Philadelphia Loans – OHCD Phila http://ohcdphila.org/ Tue, 05 Jul 2022 02:32:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ohcdphila.org/wp-content/uploads/2021/06/icon-5-150x150.png Philadelphia Loans – OHCD Phila http://ohcdphila.org/ 32 32 Rose Valley Capital secures $74 million for Philadelphia purchase https://ohcdphila.org/rose-valley-capital-secures-74-million-for-philadelphia-purchase/ Mon, 04 Jul 2022 10:19:14 +0000 https://ohcdphila.org/rose-valley-capital-secures-74-million-for-philadelphia-purchase/ Mansion in Bala Capital of the Rose Valleyaffiliate Hampshire Properties, secured $73.6 million in financing for the acquisition of Mansion at Bala, a 276-unit community in Philadelphia. According to Yardi Matrix data, the seller was Winter investments. Natixis Corporate and Investment Bank provided the five-year variable rate loan. Funding was secured by Managing Director Robert […]]]>
Mansion in Bala

Capital of the Rose Valleyaffiliate Hampshire Properties, secured $73.6 million in financing for the acquisition of Mansion at Bala, a 276-unit community in Philadelphia. According to Yardi Matrix data, the seller was Winter investments.

Natixis Corporate and Investment Bank provided the five-year variable rate loan. Funding was secured by Managing Director Robert Lipson and Trustees TJ Piper and Jeremy Lynch with Berkadia Commercial mortgage.

A multi-family asset near Saint-Joseph University

Bala Mansion, built in 2010 on 6.8 acres, features one-, two-, and three-bedroom apartments, averaging 1,059 square feet. All units have washers and dryers. Communal facilities include a swimming pool, fitness center, clubhouse, business center and 340 parking spaces.

Located at 4700 City Ave., the property is 6 miles from downtown Philadelphia and adjacent to the Lincoln Expressway. Saint Joseph University is within walking distance. Residents have access to a golf course, as well as attractions and recreation venues in the Fairmount Park area. Dining and retail options are available nearby along City Avenue. Philadelphia International Airport is 10 miles away.

According to a recent Yardi Matrix report, the Philadelphia multifamily continues to show stable fundamentals. Year-to-date through June, 36 assets traded at an average per unit of nearly $200,000, according to the same data provider. While the speed of transactions has remained constant, prices have increased: at the same time last year, the average price per unit was only $145,485.

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Former NFL star Michael Vick sued in Broward https://ohcdphila.org/former-nfl-star-michael-vick-sued-in-broward/ Fri, 01 Jul 2022 20:34:56 +0000 https://ohcdphila.org/former-nfl-star-michael-vick-sued-in-broward/ Former NFL star Michael Vick, whose record took him from fame and fortune with the Atlanta Falcons inside a jail cell for his role in a fight ring of Dogs, to see him bounce back in the NFL with the Philadelphia Eagles, is being sued in Broward County by creditors who want him to repay […]]]>

Former NFL star Michael Vick, whose record took him from fame and fortune with the Atlanta Falcons inside a jail cell for his role in a fight ring of Dogs, to see him bounce back in the NFL with the Philadelphia Eagles, is being sued in Broward County by creditors who want him to repay loans he took out at least four years ago in Maryland.

According to the lawsuit, which was filed in May, Vick was slapped with a judgment of $692,000 for unpaid debts. It came from a court in Maryland. Details about the origin of these debts were not part of the Broward lawsuit.

But Vick lives in Southwest Ranches, in a home protected by state homestead laws because it’s her primary residence. Plaintiffs’ attorneys say they want Vick in a deposition Aug. 5 to list his assets so his creditors can collect.

Vick’s South Florida attorney, Arthur Jones, said Friday he intended to represent him in the case and claimed the plaintiffs were misrepresenting the amount Vick owed.

“‘Michael Vick takes these matters seriously and is aware of the process and will ensure that all parties who are entitled to receive payment are paid,’ he said in an emailed statement. “However, usurious calculations that produce absurd results should not be tolerated by Florida courts. Therefore, all appropriate defenses will certainly be employed. Further comments on the shenanigans that lead to situations like this may be made available at a later date.

Kevin Spinozza, an attorney for the plaintiffs, did not respond to a request for comment Friday. “They actually live in the house. There was a $160,000 Bentley in the driveway,” Spinozza told the Miami Herald Thursday. “Obviously a nice house, the one you’d think a retired NFL player would live in.”

Vick played for the Atlanta Falcons from 2001 to 2006. The following year, he became embroiled in a controversy over an illegal dogfighting ring in Virginia and ended up serving nearly two years in federal prison.

He filed for bankruptcy in 2008 and ended up paying off most of what he owed, according to published reports. He returned to the NFL as a quarterback for the Philadelphia Eagles in 2009. After playing for the New York Jets and Pittsburgh Steelers, he retired in 2017 and started working as an analyst at Fox Sports.

No hearing has been set in the Broward Collections case.

Rafael Olmeda can be reached at rolmeda@sunsentinel.com954-356-4457 or on Twitter @rolmeda

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The US real estate market is showing resilience https://ohcdphila.org/the-us-real-estate-market-is-showing-resilience/ Fri, 01 Jul 2022 17:09:28 +0000 https://ohcdphila.org/the-us-real-estate-market-is-showing-resilience/ Comment A downturn in the US housing market will come, but it won’t be like 2008. After an unreasonably hot period for house prices following the COVID-19 pandemic, fueled by a new wave of suburban migration and historically low interest rates, experts are calling for a major real estate crash similar to that experienced during […]]]>

Comment

A downturn in the US housing market will come, but it won’t be like 2008.

After an unreasonably hot period for house prices following the COVID-19 pandemic, fueled by a new wave of suburban migration and historically low interest rates, experts are calling for a major real estate crash similar to that experienced during the Great Recession of 2008.

Nationally, home prices rose 10.4% in 2020 and a record 18.8% in 2021, according to the industry benchmark S&P CoreLogic Case-Shiller National Home Price Index. It’s an extremely rapid increase by any measure, and there’s reason to believe the music is about to come to a halt. Nationwide mortgage rates have doubled since a year ago to more than 6%, inflation is hitting consumers’ wallets and the US economy is poised to enter a recession.

During the Great Recession, house prices fell an average of 33% from peak to trough. Will house prices fall by that magnitude this time around?

Don’t bet on it.

The last financial crisis was caused by the real estate market, and real estate prices fell as expected. It was the product of widespread under-underwriting of mortgages. Many subprime borrowers took out adjustable-rate mortgages that they then couldn’t pay. This caused massive seizures. And with foreclosed homes flooding the market, home prices have plummeted and mortgage borrowers have become even more “underwater,” a phenomenon where the mortgage owed on the home exceeds its market value.

This time the fundamentals couldn’t be more different. Today, the quality of mortgages in general is higher. The average borrower FICO score is around 750 today, down from the high range of 600 in 2009. This means that borrowers today are more creditworthy and should be able to repay their loans, in average, at a higher rate than in the last recession.

Today, the owners also have record net worth. According to Black Knight, a real estate industry data provider, US borrowers have collectively amassed $11 trillion in equity, even leaving a minimum of 20% equity in their homes. Record high net worth, intuitively, also means that borrowers on average have low leverage on their homes. Today, homeowners owe mortgages averaging only 43% of their home’s value. In other words, the loan-to-value ratio is at an all-time high of 43%.

Consumers are less likely to default on their mortgages today. There will probably be very few forced foreclosures at knockdown prices, which was prevalent during the 2008 crisis and caused a downward spiral in house prices.

In addition to the strength of borrowers, the dynamics of supply and demand are also supporting prices. Persistent housing shortages in many markets are restricting supply. Freddie Mac, the federal mortgage agency, estimates that there are about 3 million homes short in the United States. It’s the result of a decade of home underbuilding in the wake of the 2008 crisis. Data from Black Knight indicates that only six of the 50 cities tracked have more real estate listings today than before the pandemic.

Why is this important? This suggests that housing demand continues to outstrip supply in most markets. And this imbalance keeps house prices stubbornly high.

Anecdotal evidence also supports these data. In speaking with several experienced real estate agents in northern New Jersey, they state that even though the number of offers well above the asking price has decreased, homes are still selling quickly and often above the asking price. Many potential buyers today are Millennials who have just started families and are quite determined and price inelastic, even with very high mortgage rates that make monthly payments more expensive.

Nevertheless, some markets are indeed experiencing price declines, especially in areas where prices have risen and new home construction has also boomed (eg Austin, Texas).

The co-CEO of national homebuilder Lennar, Richard Beckwitt, gave a “hot or not” summary of the U.S. housing market during the homebuilder’s quarterly earnings call in June. According to Lennar, the main markets are currently in Florida, New Jersey, Maryland, Charlotte, Indianapolis, Chicago, Dallas, Houston, San Antonio, Phoenix, San Diego, Orange and Inland Empire (in California). These areas still benefit from a restricted supply and positive migration trends. Markets seeing moderate home price declines include Charleston, Myrtle Beach, Nashville, Atlanta, Colorado, Reno, Salt Lake City, Philadelphia, Virginia and the California Bay Area.

As for the markets where Lennar has seen significant selling price drops? They include Los Angeles, Raleigh, Austin, Sacramento, Seattle, Minnesota and Central Valley (in California).

Real estate is a hyper-local asset class driven by local economies, migration patterns and recent new construction activity. Homeowners need to keep up to date with their local markets, but experts calling for a 40% drop in house prices will prove incorrect.

The opinions expressed in this article are the opinions of the author and do not necessarily reflect the opinions of The Epoch Times.

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Fan Yu is an expert in finance and economics and has contributed analysis on the Chinese economy since 2015.

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Camden County woman admits fraudulently obtaining 30 loans to help small businesses during COVID-19 pandemic | USAO-NJ https://ohcdphila.org/camden-county-woman-admits-fraudulently-obtaining-30-loans-to-help-small-businesses-during-covid-19-pandemic-usao-nj/ Tue, 28 Jun 2022 23:40:52 +0000 https://ohcdphila.org/camden-county-woman-admits-fraudulently-obtaining-30-loans-to-help-small-businesses-during-covid-19-pandemic-usao-nj/ CAMDEN, NJ – A Camden County, New Jersey resident today admitted to conspiring to fraudulently obtain 30 Paycheck Protection Program (PPP) and Economic Disaster Loan (EIDL) loans. totaling more than $3 million, and for laundering the proceeds, U.S. Attorney Philip R Seller’s Ad. Rhonda Thomas, 38, of Sicklerville, New Jersey, pleaded guilty by videoconference before […]]]>

CAMDEN, NJ – A Camden County, New Jersey resident today admitted to conspiring to fraudulently obtain 30 Paycheck Protection Program (PPP) and Economic Disaster Loan (EIDL) loans. totaling more than $3 million, and for laundering the proceeds, U.S. Attorney Philip R Seller’s Ad.

Rhonda Thomas, 38, of Sicklerville, New Jersey, pleaded guilty by videoconference before U.S. District Judge Karen M. Williams to an information charging her with one count of conspiracy to bank fraud and one count of money laundering. ‘silver.

According to documents filed in this case and statements made in court:

The CARES Act (Coronavirus Aid, Relief, and Economic Security) is a federal law enacted in March 2020 and was designed to provide emergency financial assistance to millions of Americans who are suffering from the economic effects caused by the COVID-19 pandemic. 19. One of the sources of relief provided by the CARES Act was the authorization of hundreds of billions of dollars in small business forgivable loans for job retention and certain other expenses, through the PPP. The CARES Act also authorized the Small Business Administration to provide an EIDL of up to $2 million to eligible small businesses that were experiencing significant financial disruption due to the COVID-19 pandemic.

To obtain a PPP or EIDL loan, an eligible small business had to submit an application and provide information about its operations, including the number of employees and expenses. In addition, companies generally had to provide supporting documents.

In 2020 and 2021, Thomas submitted at least 10 PPP applications and three EIDL applications for companies she controlled. She represented to lenders that her businesses had employees and payroll expenses that they did not. In fact, many of his businesses were nominal businesses with no employees or payroll charges.

Thomas also conspired with other alleged business owners to submit at least 20 fraudulent PPP and EIDL loan applications. She prepared and submitted these loan applications, which falsely stated the number of employees, payroll and business expenses.

Thomas falsified tax forms and altered bank statements she submitted to lenders as part of loan applications.

Based on Thomas’ misrepresentations, lenders approved about 30 PPP and EIDL loans and disbursed more than $3.1 million in federal COVID-19 emergency relief funds to struggling small businesses in Thomas and to his conspirators. Thomas has personally received over $330,000 from lenders based on the fraudulent loan applications for his businesses and received kickbacks of over $700,000 from other business owners for his role in preparing and submitting fraudulent loan applications.

Thomas used the fraudulently obtained PPP and EIDL loan proceeds to pay for his personal expenses. In March 2022, Thomas withdrew approximately $60,000 of cash loan proceeds from a Camden County credit union.

The bank fraud conspiracy charge carries a maximum sentence of 30 years in prison and a $1 million fine. The money laundering charge carries a maximum of 10 years in prison and a fine of $250,000, or double the gross gain or loss of the offense, whichever is greater. higher. As part of his guilty plea, Thomas agreed to return the full amounts of the PPP and EIDL loans. Sentencing is scheduled for November 1, 2022.

US Attorney Sellinger credited special agents from the Federal Deposit Insurance Corporation – Office of Inspector General, under Patricia Tarasca, Special Agent in Charge of the New York Regional Office; Social Security Administration Special Agents, Office of Inspector General, New York Field Division, under Special Agent in Charge Sharon MacDermott; special agents of the FBI’s South Jersey Resident Agency, under Special Agent in Charge Jacqueline Maguire in Philadelphia; Special Agents of the United States Department of Labor, Office of Inspector General, New York Region, under the direction of Special Agent in Charge Jonathan Mellone, the investigation leading to today’s guilty plea.

The government is represented by Assistant U.S. Attorney Daniel A. Friedman of the Criminal Division of the U.S. Attorney’s Office in Camden and Senior Litigation Counsel Jason M. Richardson of the Civil Rights Division of the U.S. Attorney’s Office in Camden.

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Urban League of Philadelphia gets $350,000 for housing program https://ohcdphila.org/urban-league-of-philadelphia-gets-350000-for-housing-program/ Sat, 25 Jun 2022 10:55:47 +0000 https://ohcdphila.org/urban-league-of-philadelphia-gets-350000-for-housing-program/ PHILADELPHIA CREAM – Whether you are looking to buy a first home or facing eviction due to job loss due to the pandemic, the Philadelphia Urban League Housing Counseling Program can help. The program, certified by the U.S. Department of Housing and Urban Development and recognized by the city and state, received a boost with […]]]>

PHILADELPHIA CREAM – Whether you are looking to buy a first home or facing eviction due to job loss due to the pandemic, the Philadelphia Urban League Housing Counseling Program can help.

The program, certified by the U.S. Department of Housing and Urban Development and recognized by the city and state, received a boost with a $350,000 federal grant announced last week by U.S. Representative Brendan F. Boyle.

The Urban League is a nonprofit group that provides education, training, entrepreneurship, housing, and wellness programs to underserved communities.

The grant comes from the Community Project Funding Program created by Congress this year that allows its members to apply for and support funds for nonprofit groups that are in their districts, Boyle said.

“Homeownership is one of the main ways we can move low-income people into the middle class,” Boyle said. “I think it also creates more stable neighborhoods. I’m glad I was able to get help from Washington, DC to provide these funds.

Andrea Custis, president and CEO of Urban League, said about 70 people attended one of their first home-buying sessions in North Philadelphia last week.

“More and more people are showing an interest in buying a home,” Custis said. “We should feel good about this because this is how members of black and brown communities can create intergenerational wealth. The more funding we receive, the more impact we can have. »

Urban League housing counselors offer intensive one-on-one sessions for first-time home buyers, she said.

“We know what banks are looking for and we know what loan officers are looking for,” Custis said. “By the time we finish with a person this checklist that the mortgage loan officer has, they reach these points. This is how our individuals can get mortgages.

Advisors typically also look for government programs, as well as financial institutions that offer first-time homebuyers settlement funds, sometimes up to $10,000. The federal grant money will also allow the Urban League to add its own money to the settlement pot for new owners, Custis said.

Urban League’s housing counseling program also helps existing landlords prevent evictions and foreclosures by teaching financial literacy.

During the COVID pandemic, more than 21,000 city residents, mostly in black and brown neighborhoods, have been able to avoid evictions thanks to a series of municipal, state and federal moratoriums, according to the National Community Reinvestment Coalition.

The last of these moratoriums expired in December

“We know a lot of people have lost their jobs during COVID and they need help,” Custis said. “A lot of people didn’t do anything wrong, but they lost their jobs and couldn’t pay their rent or their mortgage.”

Urban League housing counselors will guide them through the process if foreclosure or eviction is already a reality and even accompany them to court, if necessary.

“We will be here for you and help you through this process,” Custis said.

Other services offered by housing counselors include help with unpaid utility bills. It also provides assistance for people with tangled titles, where a person may live in the house and be entitled to it, but the deed is not in their name, or is in the name of a deceased relative, for example.

The Urban League has five initial housing sessions coming up on June 25, July 9, July 16, July 23, and July 30. For more information, please call 215-985-3220, ext. 235 or email: [email protected].

In 2018, Urban League assisted approximately 3,000 families and helped approximately 70 families become homeowners, with a total market value of $4 million. He has helped prevent more than 100 foreclosures, sparing neighborhoods from the blight and declining property values ​​that often accompany foreclosures.

Stephen Williams is a reporter for the Philadelphia Tribune, where this story first appeared.

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NJ regulators allege ‘massive nationwide fraud’ by real estate fund https://ohcdphila.org/nj-regulators-allege-massive-nationwide-fraud-by-real-estate-fund/ Thu, 23 Jun 2022 08:15:00 +0000 https://ohcdphila.org/nj-regulators-allege-massive-nationwide-fraud-by-real-estate-fund/ New Jersey securities regulators have ordered development firm Secaucus National Realty Investment Advisors to cease what they say is fraudulent activity, alleging the company deceived investors while funneling millions of dollars to executives and their families. The New Jersey Bureau of Securities said in its 63-page cease and desist order that the NRIA engaged in […]]]>

New Jersey securities regulators have ordered development firm Secaucus National Realty Investment Advisors to cease what they say is fraudulent activity, alleging the company deceived investors while funneling millions of dollars to executives and their families.

The New Jersey Bureau of Securities said in its 63-page cease and desist order that the NRIA engaged in “massive nationwide securities fraud” in its handling of some $630 million. dollars raised from at least 1,800 investors using broadcast ads and billboards promising returns. up to 21%.

The order, issued on Tuesday, comes about two weeks after recently appointed NRIA Director Brian Casey filed a Chapter 11 petition seeking bankruptcy protection.

Casey assumed leadership of the company after the departure of Rey Grabato, its longtime president and CEO, and Coley O’Brien, its former CEO.

The NRIA and several affiliates, as well as Grabato and O’Brien, are named as respondents in the order, as are Thomas Nicholas Salzano – whom regulators call the “brain” of the NRIA – and Arthur Scutaro, vice president of the NRIA.

“These respondents presented investors with a securities opportunity that seemed too good to be true, and it was,” Amy G. Kopleton, the office’s acting director, said in a statement.

Casey, Grabato and Scutaro did not respond to messages seeking comment, nor did a lawyer for Salzano. O’Brien’s contact information could not be found.

New Jersey law provides additional penalties, such as monetary penalties, against defendants named in the order, said Arthur Laby, director of the Rutgers Center for Corporate Law and Governance, which reviewed the document.

The bureau “alleged gross misconduct,” Laby said.

The NRIA told the Philadelphia Inquirer last year that it believed it had been clear in its disclosures to investors. He said he has never missed an investor’s payment or been sued by an investor.

The NRIA has promised investors big returns on its apartment, condominium and townhouse projects in Philadelphia, northern New Jersey, Brooklyn and Palm Beach County, Florida.

In post last yearthe Philadelphia Inquirer suggested that the company exaggerated the success of its projects, leading it to rely on money from new investors to pay for existing ones.

The New Jersey order alleges that the NRIA failed for years to disclose that the 6% annualized “distributions” investors received from the company came from their own capital contributions, not from the company’s trading income .

“Respondents were simply reimbursing investors with their own money,” the regulators wrote in the order.

The company and its executives also insufficiently informed investors that up to a quarter of their funds had been used to buy high-yield commercial mortgage-backed securities in hopes of generating the returns that the NRIA failed to generate. not realized. of its alleged strategy of developing residential properties for resale, according to the order.

Meanwhile, the NRIA and its leaders had diverted money to relatives and for personal use, regulators said.

Salzano’s wife, Olena Budinska, earned more than $2.1 million between 2018 and 2021 “for a no-show position in which she was not employed by the NRIA fund and provided no services of value to the NRIA fund,” according to the order.

The NRIA awarded additional millions to companies controlled by relatives of Salzano and Scutaro, without disclosing the transactions as potential conflicts of interest, regulators said. Among them were contracts with Philadelphia-based US Construction, which is co-owned by one of Salzano’s sons, according to the order.

Budinska and a lawyer for US Construction did not respond to requests for comment.

Over $440,000 in investor funds also went to two India-based companies, Ably Soft Pvt. and FATbit Technologies — for generating websites aimed at blurring Salzano and Scutaro’s past with a former Newark, NJ-based telecommunications company called NorVergence, regulators said.

NorVergence marketed a device called the “Matrix Box” that was supposed to provide cheap phone and internet service, but it didn’t work as advertised, according to a Federal Trade Commission complaint. As an executive of NorVergence, Salzano was fined $50 million in 2006 by the FTC for engaging in unfair and deceptive practices, two years after the company ceased operations and filed a petition for bankruptcy.

Scutaro had been senior vice president at NorVergence.

FATbit created websites for a bogus environmental organization, also called ‘Norvergence’, to ‘clean up Salzano and Scutaro’s sordid past’ by shifting web searches leading to information about the bankrupt telecom company , according to the order.

Cousins ​​of former CEO Grabato were also paid to create fake blogs using Salzano’s name “to further remove negative links”, regulators said.

The inspector reported on the online disinformation campaign Last year. Manish Bhalla, who identified himself in a LinkedIn profile as the chief executive of Ably Soft and FATbit, did not respond to a message seeking comment.

NRIA leaders had long sought to downplay Salzano’s apparent role in the company, which he, in fact, “managed and controlled,” according to the order.

The NRIA described Salzano as occupying an “independent contractor leadership role”.

Salzano was arrested by the Federal Bureau of Investigation in early 2021 following a January 2019 incident in which he allegedly used fake loan papers to try to get more money from an existing investor from the NRIA. Later in 2019, he attempted to secure a $20 million loan from

TD Bank

using another false document, depending on the order.

Salzano’s initial court date on criminal charges surrounding the January 2019 incident has been repeatedly postponed and is currently continuing until at least July 29. The Securities and Exchange Commission has also filed a civil complaint against Salzano regarding this incident.

No charges have been announced in the alleged fraud attempt by TD Bank, which declined to comment for this article.

Despite knowing of the fraudulent activities, other NRIA officials named in the order took no action against Salzano, as he “kept investors in the dark” about the incidents, they said. writes the regulators.

Write to Jacob Adelman at jacob.adelman@barrons.com

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Rusnak signing masterstroke by Sounders, Philadelphia misses magic and more from Week 15 https://ohcdphila.org/rusnak-signing-masterstroke-by-sounders-philadelphia-misses-magic-and-more-from-week-15/ Mon, 20 Jun 2022 00:43:15 +0000 https://ohcdphila.org/rusnak-signing-masterstroke-by-sounders-philadelphia-misses-magic-and-more-from-week-15/ A point. A point. A point. A point. Every week, more or less, it’s the same thing for the Philadelphia Union. And man, they could use an Ilsinho. The front office has been both inventive and aggressive over recent transfer windows, which includes the arrival of a trio of attacking DPs since last summer. But […]]]>

A point. A point. A point. A point. Every week, more or less, it’s the same thing for the Philadelphia Union.

And man, they could use an Ilsinho. The front office has been both inventive and aggressive over recent transfer windows, which includes the arrival of a trio of attacking DPs since last summer. But even with that shopping spree, Philly lacks the kind of magic that can turn a defense upside down and turn a one-goal lead into a two-goal win.

It shows in the numbers. According to TruMedia via StatsPerform, Philly is the league’s tightest, most direct team, and has the lowest possession and fewest passes per streak, as well as the fewest dribbles per game. In other words, they are quite monotonous: they will play as fast as possible and sell out completely to win 50/50. If they win them, they will immediately play guts again. Rinse, repeat, rinse, repeat.

This approach is married to both personnel (the Union front office provided Curtin with a bunch of grinders) and training (the 4-4-2 diamond is tight and naturally positions shuttles to cut serve from half-spaces, which leads to rollovers, which leads to…vertical play in the gut). And on top of that, the beauty of having two real strikers in the modern game is that when you win the ball, you always have two vertical options. Union this season have taken that to its logical extent by playing a record 44.2% of their forward passes.

Last year, this figure was 37.8%. In 2020, when they won the Supporters Shield, it was 35.8%.

Philly isn’t that team anymore, though – they’re more like the Chester branch of the Red Bulls. They will hit you relentlessly and force you to match both their style and their energy, and that’s fine, but if they’re not able to put the ball in the net thanks to the chances they create thanks to their smashing approach… well, one point is better than none. But it looks like this team could turn a point into a three more often than not if they had a playmaker (winger, second forward, No.10, whatever) capable of some magic.

Cincy usually has this guy in Lucho Acosta, although he was limited to a late appearance in this one after coming out of health and safety protocols. Still, they managed to consistently get into the attacking third in good order by playing straight into Brandon Vazquez, whose Brian McBride-esque hold-up game reflected his Brian McBride-esque willingness to sacrifice his face to score a goal. This mockup is just from the first half!

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Prudential Bancorp, Inc. Annou – GuruFocus.com https://ohcdphila.org/prudential-bancorp-inc-annou-gurufocus-com/ Fri, 17 Jun 2022 21:18:53 +0000 https://ohcdphila.org/prudential-bancorp-inc-annou-gurufocus-com/ PHILADELPHIA, May 18, 2022 (GLOBE NEWSWIRE) — Prudential Bancorp, Inc. (the “Company”) (PBIP) announced that its Board of Directors at a meeting held today declared a cash dividend of $0.07 per share on the common stock of the Company, payable on June 21, 2022 to shareholders of record at the close of business on June […]]]>

PHILADELPHIA, May 18, 2022 (GLOBE NEWSWIRE) — Prudential Bancorp, Inc. (the “Company”) (PBIP) announced that its Board of Directors at a meeting held today declared a cash dividend of $0.07 per share on the common stock of the Company, payable on June 21, 2022 to shareholders of record at the close of business on June 7, 2022.

Prudential Bancorp, Inc. is the holding company of Prudential Bank, a Pennsylvania-chartered, FDIC-insured savings bank originally established in 1886 and headquartered in Philadelphia, Pennsylvania. Prudential operates from its headquarters and principal office in Philadelphia, Pennsylvania, as well as nine other full-service financial centers, including seven in Philadelphia, one in Drexel Hill, Delaware County, and one in Huntingdon Valley, in Montgomery County, Pennsylvania. As of March 31, 2022, the Company had assets totaling $1.0 billion, liabilities totaling $888.8 million and equity totaling $120.1 million.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, expectations or forecasts of future financial or business performance, terms relating to the society. These forward-looking statements include statements regarding the Company’s beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, which are subject to significant risks and uncertainties and subject to change based on various factors (some of which are beyond the Company’s control). The words “may”, “could”, “should”, “would”, “should”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, ” plans” and similar expressions are intended to identify forward-looking statements.

In addition to factors previously disclosed in the Company’s filings with the Securities and Exchange Commission (“SEC”) and those identified elsewhere in this press release, the following factors, among others, could cause actual results differ significantly from forecasts. forward-looking statements or historical performance: the strength of the United States economy generally and the strength of the local economies in which the Company operates; general economic conditions; the extent and duration of the ongoing COVID-19 pandemic; the effects of the COVID-19 pandemic, including on the credit quality and operations of the Company, its customers, counterparties, employees and third-party service providers as well as its impact on general economic conditions, both locally and national, including potential increases in unemployment rates, continued supply chain disruptions and reimposed restrictions on business operations in the markets in which the Company operates; legislative and regulatory changes, including actions taken by governmental authorities in response to the COVID-19 pandemic, including, but not limited to, the enactment and implementation of the CARES Act; the federal government’s monetary and fiscal policies, including in response to the COVID-19 pandemic; changes in tax policies, rates and regulations of federal, state and local tax authorities, including the effects of tax reform law; changes in interest rates, deposit flows, cost of funds, demand for lending products and demand for financial services, in each case likely to be affected by the COVID-19 pandemic, the competition; changes in the quality or composition of the Company’s loan, investment and mortgage-backed securities portfolios; the geographical concentration of the Company’s activities; fluctuations in real estate values, particularly in light of the COVID-19 pandemic; the adequacy of loan loss reserves; the effects of ongoing litigation, the risk of impairment of goodwill and intangible assets recognized in the Company’s financial statements; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and costs.

For a complete discussion of the assumptions, risks and uncertainties relating to our business, we encourage you to review the Company’s filings with the SEC, including the “Risk Factors” section in its most recent Annual Report on Form 10. -K, as amended, for the year ended September 30, 2021.

Investors are encouraged to access the Company’s periodic reports filed with the Securities and Exchange Commission for financial and business information regarding the Company at www.psbanker.com under the Investor Relations menu. We undertake no obligation to update any forward-looking statements, written or oral, which may be made from time to time by or on behalf of the Company to reflect events or circumstances occurring after the date of this press release.

Contact:
Jack E. RothkopfSenior Vice President, Treasurer, Chief Financial Officer, Prudential Bancorp, Inc. and Prudential Bank, 215-755-1500.

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Leonard N. Snyder Obituary – Bucks County Courier Times https://ohcdphila.org/leonard-n-snyder-obituary-bucks-county-courier-times/ Thu, 16 Jun 2022 13:54:14 +0000 https://ohcdphila.org/leonard-n-snyder-obituary-bucks-county-courier-times/ Leonard N. Snyder died on June 8, 2022 at Freedom Village in Brandywine in Chester County, Pennsylvania. Born April 8, 1927 in Philadelphia, PA, he was the husband of his beloved wife and best friend, Danielle J. (Evans) Snyder. Son of the late W. Leonard Snyder and Margaret N. Snyder (Smith). Mr. Snyder retired as […]]]>

Leonard N. Snyder died on June 8, 2022 at Freedom Village in Brandywine in Chester County, Pennsylvania. Born April 8, 1927 in Philadelphia, PA, he was the husband of his beloved wife and best friend, Danielle J. (Evans) Snyder. Son of the late W. Leonard Snyder and Margaret N. Snyder (Smith).

Mr. Snyder retired as Executive Director of the Grundy Foundation, Bristol, Pennsylvania. He continued as a Trustee of the Foundation after his retirement and served the Foundation for over 40 years. During his tenure, he was actively involved in early revitalization projects for the borough of Bristol. This included but was not limited to rebuilding the Mill Street Car Park, Grundy Ice Rink, rebuilding Bristol Rail Station, Grundy Towers (Pond St.), building tennis courts with lights on Jefferson Avenue and the removal of the Spur-Track freight rail line, which is now a promenade used daily by students and others. The project that gave him the greatest sense of accomplishment was closing the X-rated theater and replacing it with the award-winning Bristol Riverside Theatre.

Leonard Snyder was also a retired director of the First Federal Savings and Loan Association of Bucks County for over thirty years (he always thought that name should have been shortened).

Mr. Snyder was an active member of several Rotary clubs, including Levittown Fairless Hills (president), Ocean City, NJ, and the Rotary Club of Bristol (president). He had over 50 years of perfect and continuous attendance. He was also active at the district level serving the Gundaker Foundation for seven years, including one year as President. Leonard was a member of St John’s Lutheran Church in Morrisville, Pennsylvania and also served on the Bristol Levittown Advisory Council of the Salvation Army and as Council Alderman.

Mr. Snyder served in the US Navy in World War II and was a deep sea diver. Yes, he wore one of those big copper and brass helmets and lead shoes. While he rarely spoke of his time in the military, he was immensely proud to serve the country he loved.

Leonard adored his wife Danielle and shared 44 years of marriage with her. He asked that we mention her again because he felt she deserved extra recognition for putting up with him all these years. They were truly a match made in heaven.

Mr. Snyder is survived by his three children, Keith N. Snyder (Michelle), Kimberly D. Snyder-Petrondi (Thomas) and Craig R. Snyder (Rebecca); Grandchildren Karla Snyder Risan, Ryan Snyder (Lacey), Mark Snyder, Alex Snyder, Brett Snyder, Sara Petrondi, Ashley Snyder, Grant Snyder and 5 great-grandchildren; mother-in-law, Irene Evans; brothers-in-law Daniel (Eileen), David and Douglas (Jane) Evans; Nieces and nephews, Stephen, Chris and Ashley Zoeller, David and Jon Evans, Katherine Dempsey and Daniel Evans, and Leonard P. Snyder, all of whom he loved dearly. He was predeceased by his brother, Jay P. Snyder, his stepfather, Daniel Evans, and his sister-in-law, Denise Evans Zoeller.

Family and friends are invited to the celebration of Leonard’s life on Wednesday, June 22, 2022, from 11:00 a.m. to 12:30 p.m. at Dunn-Givnish Funeral Home, 378 South Bellevue Avenue, Langhorne, PA 19047. His memorial service will follow immediately thereafter at 12:30 p.m. .

Interment at Washington Crossing National Cemetery, 830 Highland Road, Newtown, PA 18940. His service, with full military honors, will begin at 2:30 p.m. sharp.

In lieu of flowers, contributions may be made to the Bristol Riverside Theater Endowment Fund 120 Radcliffe Street Bristol, PA 19007 or The Salvation Army, 215 Appletree Drive, Levittown, PA 19055.

Posted on June 16, 2022

Posted in Bucks County Courier Times

service information

Visitation

Dunn-Givnish Funeral Home, 378 South Bellevue Avenue, Langhorne, PA 19047

June 22, 2022 at 11:00 – 12:30

Memorial service

Interment at Washington Crossing National Cemetery, 830 Highland Road, Newtown, PA 18940. His service, with full military honors, will begin at 2:30 p.m. sharp.

June 22, 2022 at 12:30 p.m.

burial

Washington Crossing National Cemetery, 830 Highland Road, Newtown, PA 18940

June 22, 2022 at 2:30 PM

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National Realty Investment Advisors files for bankruptcy https://ohcdphila.org/national-realty-investment-advisors-files-for-bankruptcy/ Mon, 13 Jun 2022 21:45:00 +0000 https://ohcdphila.org/national-realty-investment-advisors-files-for-bankruptcy/ Rey Grabato with multiple NRIA projects (LinkedIn/Rey Grabato, NRIA, iStock/Photo Illustration by Steven Dilakian for The Real Deal) National Realty Investment Advisors, a struggling developer with projects in Brooklyn, Florida, New Jersey and Philadelphia, has filed for bankruptcy. The New Jersey-based company filed for Chapter 11 protection in federal court last week in Newark, according […]]]>

Rey Grabato with multiple NRIA projects (LinkedIn/Rey Grabato, NRIA, iStock/Photo Illustration by Steven Dilakian for The Real Deal)

National Realty Investment Advisors, a struggling developer with projects in Brooklyn, Florida, New Jersey and Philadelphia, has filed for bankruptcy.

The New Jersey-based company filed for Chapter 11 protection in federal court last week in Newark, according to filings. It listed assets worth between $50 million and $100 million, as well as liabilities of $500 billion to $1 billion.

The move comes as National Realty Investment Advisors is reportedly under investigation by the Federal Bureau of Investigation and the Securities and Exchange Commission, as well as financial regulators in New Jersey, Alabama and Illinois.

The independent manager overseeing the deal on behalf of the company, Brian Casey of property financial advisory firm The Casey Group, could not immediately be reached for comment.

Founded in 2016, the bankrupt builder focuses on developing and investing in condos, townhouses and multi-family homes and had $1.25 billion in assets under management in the second quarter of 2020, according to its LinkedIn page.

private enterprise website lists more than a dozen projects in Brooklyn in neighborhoods such as Cobble Hill, Park Slope and Crown Heights, as well as numerous developments beyond New York in various stages of completion.

In March last year, the FBI reportedly arrested portfolio manager Nick Salzano after an hours-long confrontation outside his New Jersey home. It was accused for faking a $25 million loan guarantee while trying to defraud a California woman out of $150,000, according to the publication Regulatory Compliance Watch.

The company came under further scrutiny in September when the Philadelphia Inquirer reported that authorities investigate it.

Company CEO Rey Grabato reportedly resigned six weeks ago.

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