Magnetic resonance fingerprinting (MRF) provides the opportunity for efficient quantification of ATP synthesis using 31P magnetization transfer (MT) spectroscopy. However, the multi-compartment, multi-parametric nature of 31P MT experiments renders dictionary-matching computationally infeasible. In this study, singular value decomposition was employed for parameter estimation in a 31P MRF study that quantified creatine kinase activity. Such approach allowed dictionary compression by 16 fold and accelerated parameter matching by up to 80% without compromising matching accuracy. In vivo experiments on rat hindlimb (N=21) showed a 2.7-fold increase in measurement efficiency comparing to the conventional MT method using saturation transfer.