Over the past couple of weeks AmeriCredit Corp., a leading independent automobile finance company specializing in purchasing subprime paper, has been able to share some good news with it’s dealer base—something some finance companies haven’t been able to do for quite some time.

Since April 17, 2008, AmeriCredit has surpassed expectations, seen its shares increase and entered into a $2 Billion Forward Purchase Agreement.

The company reported its fiscal third-quarter earnings of $38 million, or 31 cents per share, on April 24, 2008, which surpassed analysts’ expectations of an increase of only 21 cents per share.

Consequently, on April 25th, AmeriCredit Corp. shares closed at $13.37 per share, an increase of $1.57 (or 13.3 percent).

An April 17th, 2008, AmeriCredit announced in a press release “that it has entered into a one-year, $2 billion forwards purchase commitment agreement with Deutsche Bank AG, Cayman Islands Branch.” Deutsche will purchase AAA rated asset-backed securities on AmeriCredit’s subprime AmeriCredit Automobile Receivables Trust.

“This agreement is a positive step in out pursuit of securitization opportunities in this challenging capital markets environment,” said Dan Berce, president and CEO of AmeriCredit, in the release.

“Over the last several months, we have experienced modest seasonal improvement in credit performance, although credit performance remains worse year-over-year. Given the weaker credit performance and challenging capital markets, we have reduced our originations target for the calendar year to conserve liquidity and protect our franchise until economic conditions improve,” said Berce in the press release announcing the third quarter earnings. AmeriCredit now expects to originate approximately $3 billion in loans in 2008.