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D.C.-based Milestone has launched anew , LLC which will help clients resolvw distressed land and construction loan problems. The grouo will assist financial institutions that areconductinbg self-examinations of their constructio n portfolio exposures, as well as federalp and state regulators working with troubled institution s and institutional investors considering investments in financial institutionzs or asset purchases. Milestone Assey Resolution will be led byCEO R. Pattersonb Jackson. Jackson is the former CEO of , a wholly-ownedf subsidiary of Indymac Bank which was seized by regulatorsx last July after aggressive realestatwe lending, especially in racked up steep losses.
At Indymac Commercialp Lending Corp. Jackson was responsible for developing and launching a smallk balance commercial and multifamilylending platform. Jim Fraser will serve as president at MilestoneAsset Resolution. Fraser was CEO and EVP of Home Constructio n Lending at for12 years, and was retained by the FDIC in its role as conservatofr of IndyMac Federal Bank after IndyMac Bank was seized. Milestone Merchantr Partners is the parent company of Milestone Advisoras LLC an investment bank headquarteredin D.C. that provides mergee and acquisition advisory and corporate finance services to financialservicese companies.
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