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Lender Sued by NASCAR Team for Breach of Sponsor Deal

Atlanta-based mortgage lender Equity Prime Mortgage has been hit with a lawsuit by NASCAR team Jesse Iwuji Motorsport. So reports stock-car racing news blogger Toby Christie.

Equity Prime MortgageJesse Iwuji Motorsports wants Equity Prime Mortgage to pay $4.1 million for allegedly breaching their sponsorship contract, court records show.

The mortgage lender agreed to a $2.3 million sponsorship deal in 2021 and $3.8 million in 2022 but told the racing team in September 2022 that it would be unable to make its remaining monthly payments due to rising mortgage rates, according to court documents.

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