LOS ANGELES and ALAMO, Calif. — Global Debt Network Automotive told SubPrime Auto Finance News recently that it has added two new loan portfolios for purchase on GDNAuto.com.

Among these are a $24 million from a finance company in Michigan and a $21,000 subprime portfolio from a dealership in North Carolina.

The 2,048 loans offered by the Michigan lender have been seasoned an average of 14 months with a weighted average APR of 22 percent. Meanwhile, the nine loans in the North Carolina dealer's portfolio have seasoned an average of nine months and carry an APR of 25 percent.

As some may know, GDNAuto allows dealers, banks, credit unions, hedge funds and other financial institutions to securely evaluate, price, sell and purchase asset-backed debt.

"At a time when auto finance is undergoing a period of intense and rapid change, GDNAuto brings transparency, efficiency and cost savings to transactions involving asset-backed auto debt," stated Michael Sheridan, founder and president of GDNAuto. "Both portfolio buyers and sellers are finding that GDNAuto provides valuable pricing data and opens the door to new opportunities to improve liquidity."

Other portfolios currently available to purchase on GDNAuto.com include:

—A $4.8 million portfolio of 408 subprime loans seasoned for an average of four months from Pennsylvania-based finance company. The loans have a weighted average APR of 21 percent.

—A portfolio of 164 seasoned loans valued at $3.6 million from a Texas dealer. The subprime loans have been seasoned an average of six months and have a weighted average APR of 23 percent.

According to officials, since the site started June, more than 100 buyer and seller members have registered and more than $90 million in loans have been listed.