Estimated reading time: 0 minutes, 27 seconds

Lender Sued by NASCAR Team for Breach of Sponsor Deal

Friday, Dec 09 2022
Originating
Written by  The Mortgage Leader

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.

Read the full blog post. 

Read 1027 times
Rate this item
(0 votes)
More in this category: « Two Found Guilty of Scamming 800 'Desperate' Homeowners UWM’s Mat Ishbia Buys Phoenix Suns, Mercury »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline