South Main Property

Financed for $4.6 Million

99-105 South Main LP has financed property near South Main Street and Gayoso Avenue with a $4.6 million construction loan through Renasant Bank. The loan was signed by Jason Wexler, a managing member of 99-105 South Main LP. The three-story, 13,824-square-foot brick building currently houses Gregs Mens Clothing Store.

Source: The Daily News Online & Chandler Reports

Morgan Keegan Names

Equity Research Director Morgan Keegan and Co. Inc. has named R. Patrick Kruczek director of the firm's equity research department. Former director David M. Guthrie remains with the firm to develop an investment management partnership. Kruczek continues to serve as chief operating officer of the Equity Capital Markets Group, a position he has held since 2001.

HUD Raises Fines

for Certain FHA Lenders

The U.S. Department of Housing and Urban Development has published a rule increasing damages HUD can seek against FHA lenders who fail to engage in loss mitigation techniques, which enable many homeowners in default on FHA mortgages to avoid foreclosure. The current maximum penalty is $6,500 per violation and $1.25 million per year. The change allows additional damages of three times the amount of any FHA mortgage insurance benefit claimed by a lender and is not subject to current limitations, HUD said.

Hardin's-Sysco Names

New President and CEO

Sysco Corp. has announced that Peter J. Scatamacchia has been named president and chief executive officer of Hardin's-Sysco Food Services LLC, a broadline distribution subsidiary located in Memphis. Scatamacchia previously was president and CEO of Sysco/Louisville Food Services Co. He succeeds William R. Bowden, who is retiring after 27 years with the foodservice marketer and distributor.