Percentage to leverage MTAG’s expertise to bring collateral verification to the private credit ecosystem
NEW YORK, February 1, 2022 /PRNewswire/ — Percent, the financial 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 management of specialist financial assets with decades of experience in providing bespoke asset management services, technologies and solutions to hedge funds, asset managers , originators and other investors. This strategic initiative will allow Percent to deploy enhanced due diligence processes throughout 2022 and beyond, bringing an institutional-grade layer of oversight to its risk management framework and providing investors with greater confidence in its platform. and greater peace of mind.
Effective today, Percent will begin implementing MTAG’s Asset Management Support Services (“AMSS”) collateral verification solution across its platform. This will involve verifying loan band data for certain receivables and other transaction information for each issuer 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 verifies what originators claim, thereby mitigating the risk of human error and fraud,” said Rohit Bharill, head of credit at Percent. “We bring the due diligence processes seen in 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 of security features to our platform – with a wide range of options to consider, including backup service.”
MTAG Services has acquired and managed over $5 billion of 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 specialist financial assets. MTAG is the manager of over 20 rated ABS transactions, and its expertise extends to various roles including lead and backup manager, transition manager and AMSS provider for a wide range of esoteric asset classes such as tax liens, PACE valuations, commercial loans, structured loans. settlements and other specialized claims.
“We are delighted to support Percent, an innovator in opening private credit opportunities to accredited retail investors,” said Jim MeeksPresident and CEO, MTAG Services. “We are impressed with the capabilities offered on Percent’s platform, which seamlessly connects investors to originators and offers industry-leading tools for retail participants in private credit transactions. Now is the perfect time for us to bring our specialist asset expertise to this growing ecosystem, helping to mitigate risk to a level that until now has been largely reserved for institutional investors.”
Percent has created a way for investors to access a wide range of private credit opportunities with a clear view of their performance through its innovative tools and comprehensive market data. Investors are able to make more informed decisions, research and compare opportunities, and easily monitor performance, all in one network.
About MTAG Services
Formed in 1997, MTAG Services is a nationally recognized manager of tax liens, private real estate loans, PACE appraisals, agricultural loans, structured settlements and many other alternative asset classes. Since its inception, MTAG Services has acquired and managed over $5 billion assets and has developed institutional-grade systems and procedures specifically designed to manage specialized financial assets. The MTAG 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 efficient asset management services. MTAG Services is SOC 1 Type 2 compliant, has been reviewed by all 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.
Percent is a global leader in financial infrastructure solutions. Founded in 2018, the company leverages proprietary technology, integrations and data to bring unprecedented transparency and efficiency to lenders and credit transactions. Percent’s innovative ecosystem enables companies of all sizes to raise the most flexible debt capital at low cost through dynamic market pricing and standardized terms. To date, its platforms have powered over $700 million in transaction volume in a multi-trillion dollar lending market.
For more information, visit Percent’s website and follow the company on Facebook, Instagram, LinkedIn and Twitter.
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