A Tiger Group Online auction on September 7 features thousands of lithium-ion battery cells from Romeo Power’s 215,000-square-foot EV battery assembly plant in Cypress, along with industrial assets such as robots, CNC machines, assembly and testing equipment, and the company’s intellectual property.
Tiger Group expanded its field examination offerings for asset-based lenders by hiring Katherine Houser-Rodriguez and Stephen Savage as senior managing directors. Both Houser-Rodriguez and Savage have decades of experience in field examinations and related services.
Houser-Rodriguez has experience in structured finance, commercial finance, commercial banking, due diligence, regulatory/compliance matters and cash-flow lending. Most recently, she was partner of Infinity ABL Services, co-leading a team of quality third-party field examiners. Prior to that, Houser-Rodriguez was the national field exam manager for the commercial bank within Wells Fargo, where she managed a team of 50 collateral examiners, management and administrative staff. She has completed multiple professional training courses through the CFA-Field Examiner School and CFA-Inventory Finance Workshop.
Savage has held various field exam-related management positions throughout his career in the asset-based and middle-market banking sector, with collateral experience from performing field examinations and managing teams. Prior to co-founding Infinity ABL Services, Savage served as the national field exam manager for Wells Fargo Capital Finance. His experience includes overseeing hundreds of internal field examiners and managers as well as the outsource function of approximately 50 contract firms.
“For more than a decade, members of Tiger’s valuation division have worked on a number of projects with Kat and Steve with a number of common customers and have always been impressed by their knowledge, drive, professionalism and attention to detail,” Bill Mayer, executive managing director of Tiger Group, said. “Kat has experience in virtually every industry and segment of asset-based lending and is a deep subject matter expert with respect to field examinations and collateral. Steve brings broad experience and an unrelenting focus to everything he does, from field examinations to logistics and technology.”
By adding Houser-Rodriguez and Savage, Tiger’s Valuation Services now provides field exams, monitoring, new loan surveys, specialized procedures, inventory test counts and more.
“By combining appraisal and field-exam services, Tiger is giving borrowers and lenders alike a more seamless and holistic experience,” Ryan Davis, executive managing director of Tiger Valuation Services, said. “Lenders interact with a single company for simplified communications and efficiency. For borrowers, it means avoiding time-consuming duplication of data requests, interviews, tours, test counts and the like, as can happen when the appraisal and field-exam teams are separate.”
Joint access to Tiger’s data analytics platform and internal team of “quants” also provides accretive benefits at a time when market shifts are spurring reassessments of borrower health and collateral value, Davis said.
“Both field examinations and appraisals have been trending toward the analytics-based approaches that have been a major focus for Tiger over the past several years,” Davis said.