It may not only be the faults but the defaults that get attention when UCLA hosts its annual Association of Tennis Professionals tournament, Countrywide Classic, in August.

That’s because the name sponsor is Countrywide Financial Corp., and fair or not, the Countrywide name has become directly linked to the excesses of the home lending industry and its widespread mortgage defaults.

“There are circumstances beyond the control of the tournament, and it will be awkward,” said David Carter, executive director of USC Sports Business Institute.

Tournament directors may take solace in the fact that this is the last year of Countrywide’s sponsorship. The Calabasas-based housing lender took over as the primary sponsor for three years in 2006, after the exit of title sponsor Mercedes-Benz North America.

The situation is not nearly as dire as, but is somewhat reminiscent of, Enron Corp.’s decision to spend $100 million to buy 30-year naming rights to Houston’s new baseball stadium in 1999 only to go bankrupt in 2001 when the company’s fraudulent financial practices came to light. The park was renamed Minute Maid Field in 2002.

Indeed, the challenge facing the tennis tournament is finding a new sponsor.

Bank of America Corp. is to acquire Countrywide for $4.1 billion in a deal expected to close later this year. The Charlotte, N.C.-based bank company already declined a request from the tournament to pick up the naming rights, said tournament Director Bob Kramer.

“We had a good long-term relationship with Countrywide,” said Kramer. “They are just as sad about it as we are, but right now they are trying to get through the acquisition.”

Countrywide was able to entertain clients and generate new business through its visible presence during the weeklong event, held at the Los Angeles Tennis Center. It also sponsored several golf events locally over the past few years, boosting its brand in its Southern California home.

Now in its 82nd year, the tournament is one of the oldest in the country. Other past sponsors include Volvo and Unocal, now owned by Chevron Corp.

Previous winners include Andre Agassi, Pete Sampras, John McEnroe, Jimmy Connors, Arthur Ashe, Rod Laver and Bobby Riggs. However, this year’s event may be a bit lower wattage than normal; many athletes will not be participating because they will be at the Beijing Olympic Games.