Fannie Mae Sues Embattled Philly Landlord’s Affiliates

Alleged voter fraud and double voting. Crumbling buildings. Slumlord accusations. And now, Philadelphia landlord Philip Pulley is facing down a $60 million lawsuit filed by Fannie Mae.

The government-controlled mortgage financier sued several real estate companies tied to Pulley in federal court, the Philadelphia Inquirer reported. Fannie Mae alleges the Pulley affiliates defaulted on seven mortgages between Philadelphia and Delaware County.

The affiliates owe $59 million on the defaulted loans, ranging from $6 million to $14 million each, according to the lawsuit. The companies also allegedly owe $1.2 million in interest, a total growing each day.

Pulley is the guarantor of the loans. The business entities he used to obtain the mortgages are eye-popping, including fiendish names such as DeVil Management Corp., Satan Management Corp., and Lucifer Management Corp.

Pulley did not comment on the lawsuit, but it’s par for the course for the embattled landlord, who is facing pressure from numerous directions.

The Pennsylvania Attorney’s General Office filed a consumer-protection complaint against Pulley and his entities, alleging “deplorable conduct” at his properties and tenant retaliation. Tenants held a rally outside of City Hall in the spring to bring attention to his alleged misconduct, calling him a “slumlord bully.”

One of his properties, Lindley Towers in North Philadelphia, partially collapsed in 2022. City officials are aiming to demolish the property.

Federal prosecutors recently charged Pulley with election fraud, double voting and falsely registering to vote, allegedly voting more than once in multiple elections by using a fake Social Security number. A hearing in the case was recently postponed to the end of the month. He’s facing similar charges at the state level.

The least of Pulley’s problems may be a lawsuit he’s facing in Florida for an alleged unpaid balance for work on a boat dock. Pulley owns a waterfront home in Lighthouse Point in the Shine State, as well as a gated estate in Montgomery County.

— Holden Walter-Warner