Percent to Tap MTAG's Expertise to Bring Collateral Verification to Private Credit Ecosystem

NEW YORK, Feb. 1, 2022 /PRNewswire/ -- Percent, the capital markets platform transforming the multi-trillion-dollar lending industry, today announces that it has entered into a multi-tiered due diligence agreement with MTAG Services, LLC ("MTAG"), a leader in the acquisition, administration, and servicing of specialty finance assets with decades of experience in providing best-in-class servicing, technology, and bespoke asset management solutions to hedge funds, asset managers, originators and other investors. This strategic initiative will enable Percent to roll out enhanced due diligence processes throughout 2022 and beyond, bringing an institutional-grade layer of oversight to its risk management framework and offering investors on its platform greater confidence and more peace of mind.

Effective immediately, Percent will start implementing MTAG's Asset Management Support Services ("AMSS") collateral verification solution across its platform. This will entail verifying loan tape data for select receivables and other transaction related information for each originator on Percent's platform.

"We believe this partnership will bring a higher level of comfort to all investors on our platform, giving them the added confidence that comes with knowing that MTAG is verifying what the originators are claiming, thereby mitigating human error and fraud risk," said Rohit Bharill, Head of Credit at Percent. "We are bringing the due diligence processes seen in the heavily regulated public markets to all transactions on our private credit platform. We also look forward to exploring how we can further leverage MTAG's services to continue to bring more security features to our platform – with a wide range of options to consider, including backup servicing."

MTAG Services has acquired and managed more than $5 billion in assets since its inception in 1997. The firm is known throughout the industry for its institutional-grade systems and procedures that have been specifically designed to manage specialty finance assets. MTAG is the servicer for over 20 rated ABS transactions, and its expertise spans across various roles including primary and backup servicer, transition manager, and AMSS provider for a broad range of esoteric asset classes such as tax liens, PACE assessments, commercial loans, structured settlements, and other specialty receivables. 

"We are excited to support Percent, an innovator in opening up private credit opportunities to retail accredited investors," said Jim Meeks, President and Chief Executive Officer, MTAG Services. "We are impressed by the capabilities offered on Percent's platform, which seamlessly connects investors to originators and offers cutting-edge tools for retail participants in private credit transactions. The timing is ideal for us to bring our expert knowledge regarding specialty assets to this growing ecosystem, helping to mitigate risk at a level that, until now, has been largely reserved for institutional investors."

Percent has built a way for investors to access a wide range of private credit opportunities with a clear view into their performance through its innovative tools and comprehensive market data. Investors are able to make better-informed decisions, source and compare opportunities, and monitor performance with ease, all in one network.

About MTAG Services

Formed in 1997, MTAG Services is a nationally recognized servicer of tax liens, private real estate loans, PACE assessments, agricultural loans, structured settlements, and many other alternative asset classes. Since inception, MTAG Services has acquired and managed more than $5 billion in assets and developed institutional-grade systems and procedures that have been specifically designed to manage specialty finance assets. MTAG's team is comprised of highly-skilled professionals with comprehensive experience and expertise in navigating through complex due diligence, managing unique assets and situations, maintaining a tightly-controlled transactional environment, and providing highly-effective asset management services. MTAG Services is SOC 1 Type 2 compliant, has been reviewed by all of the major NRSROs and has received an asset-backed tax-lien ranking from S&P.

MTAG Services is an operating subsidiary of Station 31 Partners, LLC. 

For more information, visit the Station 31 Partners website.

About Percent

Percent is a global leader in financial infrastructure solutions. Founded in 2018, the company leverages proprietary technologies, integrations, and data to bring first-of-its-kind transparency and efficiency to lenders and credit transactions. Percent's innovative ecosystem enables companies of any size to raise the most flexible debt capital at a low cost through dynamic market pricing and standardized terms. To date, its platforms have powered more than $700 million in transaction volume in a multi-trillion-dollar lending market.

For more information, visit the Percent website, and follow the company on Facebook, Instagram, LinkedIn and Twitter.

Media Contact:
Victoria Castelbuono
JConnelly for Percent
[email protected]
973-590-9314

SOURCE Percent