VantageILM to Integrate Global Debt Network's Automotive Portfolio Platform

VantageILM Inc. a provider of integrated lender/leasing management solutions for finance firms, banks, leasing companies and credit unions, today announced a joint partnership with Global Debt Network, Inc. to offer GDNAuto, an Internet-based marketplace where dealers and financial institutions can sell and buy portfolios of seasoned auto loans.

“VantageILM’s goal is to streamline and simplify the loan management process for the entire life of a loan from origination to Wall Street, so aligning with a company that streamlines and simplifies the process of buying and selling auto loan portfolios makes complete sense,” said Kyle Murphy, executive vice president, VantageILM, Inc.

GDNAuto provides lenders and investors with instant online access to loan portfolios offered for sale by automobile dealers nationwide. Using GDNAuto’s dashboard-style online control panel, banks, credit unions and other portfolio investors can quickly, easily and cost-efficiently buy or sell their asset-backed auto loan portfolios. Automobile dealers, meanwhile, are able to use GDNAuto to list, price, market and sell the loans they originate to a wider audience of investors.

In addition to offering an innovative new service with its transaction management solution, the VantageILM/GDNAuto partnership will facilitate faster, more effective communication between lenders and consumers whose auto loans have been transferred through a sale of a loan portfolio. The companies said they will integrate systems in a way that eliminates manual entry of customer data by the new servicer of the loan. That will reduce the chance that a confused consumer will miss or stop making loan payments to the new servicer. GDNAuto also will co-market VantageILM software to its customer base of financial institutions and investors.

“The combination of VantageILM and GDNAuto introduces transparency to lenders and auto dealers at a time when these kinds of new solutions are so desperately needed,” said Mike Sheridan, president of Global Debt Network, Inc. “By partnering with GDNAuto, VantageILM can offer an entirely new way for institutions and dealers to operate more efficiently and be more profitable.”

VantageILM is an on-demand next-generation integrated loan/lease management software platform that puts origination, servicing, collections, recovery management, asset management, document management and accounting into one platform. Designed to handle all types of loans and leases, VantageILM addresses the intricacies and nuances of managing sub-, non- and prime loans and portfolios for the entire life of the loan and the entire operations of a lender.

Built by finance experts from the ground up, VantageILM is flexible and highly configurable and allows direct integration of a wide variety of key external data providers and systems, including credit bureaus, valuation services, identity verification and payment processors, among others. The company aims to empower lenders by offering a flexible and scalable platform that provides increased transparency and advanced workflow automation, all of which ease training, eliminates errors and improves communications while also providing world-class analytics, risk management and operations control.

Based in Alamo, Calif., Global Debt Network, Inc. is a privately held company that simplifies auto finance by offering GDNAuto, the first nationwide online loan portfolio auction platform where automobile dealers, banks, credit unions, hedge funds and other financial institutions can come together to securely evaluate, package, price, sell and purchase asset-backed debt.