Memphis Invest filed a multi-count federal defamation lawsuit against Andrew Waite, publisher of Personal Real Estate Investor Magazine and Nexxus Publishing, on Friday July 19th.For more than two years, Waite has engaged in a campaign to attempt to destroy Memphis Invest's reputation in the real estate investment community. During this time, company management has been satisfied to let the facts speak for themselves - the company is one of Inc Magazines 500/5000 Fastest Growing Companies 2-years running, one of the 50 largest home buyers in the country and it successfully sells those homes to investors, many of whom are repeat customers. Wild accusations about civil lawsuits or law enforcement investigations against Memphis Invest have never materialized. Management has remained focused on servicing customers and growing the business. And, it has been a great success.
However, Waite's attacks have focused more and more on accusations that Memphis Invest is violating lending rules and selling properties that are ineligible for government loan programs. He has falsely told numerous people that countless loans on Memphis Invest properties have been the subject of forced buybacks by Fannie Mae and FHA and the lending on the company's investments has "dried up." This attack at the heart of Memphis Invest's business is clearly designed to interfere with the company's relationships with investors and business partners, alike.
These allegations are categorically false. Memphis Invest clients have obtained over 580 loans on properties purchased from the company over the last 2 years.
Company management has determined that the company cannot allow these allegations to be made without serious response. The company has retained nationally recognized defamation attorneys Mitchell Langberg and Barry Langberg at Brownstein Hyatt Farber Schreck, LLP, to represent it in its defamation lawsuit.
However, Waite's attacks have focused more and more on accusations that Memphis Invest is violating lending rules and selling properties that are ineligible for government loan programs. He has falsely told numerous people that countless loans on Memphis Invest properties have been the subject of forced buybacks by Fannie Mae and FHA and the lending on the company's investments has "dried up." This attack at the heart of Memphis Invest's business is clearly designed to interfere with the company's relationships with investors and business partners, alike.
Company management has determined that the company cannot allow these allegations to be made without serious response. The company has retained nationally recognized defamation attorneys Mitchell Langberg and Barry Langberg at Brownstein Hyatt Farber Schreck, LLP, to represent it in its defamation lawsuit.
