Quicken defends Super Bowl ad


Carmen: ONE LEADING LOCAL COMPANY MADE HISTORY WITH ITS FIRST SUPER BOWL AD. LAST NIGHT, IT CREATED CONTROVERSY. QUICKEN LOANS AD FOR ITS ROCKET MORTGAGE APP WAS SELLING AN EASY SIMPLIFIED LOAN PROCESS, BUT CRITICS THOUGHT IT SEEMED IRRESPONSIBLE. AND THEY WERE IN DAMAGE CONTROL. Guy: AND IN REAL TIME. IT’S THE ROCKET LAUNCH PAD. YOU CREATE AN ACCOUNT, SCAN IN YOUR DRIVER’S LICENSE, PUT IN A W-2, AND WITHIN 8 MINUTES, YOU GET AN ANSWER WHETHER YOU QUALIFY FOR A LOAN. IT’S EASY. BUT WHEN YOU HEAR THE WORD “EASY” AND “MORTGAGE” TOGETHER, SOME PEOPLE GET CONCERNED. LAST NIGHT’S AD LEFT SOME VIEWERS ASKING, WHAT WERE YOU THINKING? THEY FELT THE IMAGE OF A CHILD REACHING FOR A MORTGAGE APP WAS UNSETTLING. AND OTHERS THOUGHT IT LOOKED TOO EASY, ESPECIALLY FOR FIRST-TIMERS. IT COULD HAVE BEEN MISINTERPRETED AS USING AN APP ON YOUR PHONE AND MOVE THROUGH THE MORTGAGE PROCESS QUICK AND EASY. Guy: ONE VIEWER TWEETED: Guy: EVEN UNCLE SAM’S CONSUMER PROTECTION BUREAU RESPONDED. WHEN IT COMES TO MORTGAGES, TAKE YOUR TIME, ASK QUESTIONS AND KNOW BEFORE YOU OWE. QUICKEN WAS RESPONDING IN REAL TIME ON TWITTER SAYING IT AGREED BUT DEFENDING THE AD CLARIFYING THAT EASY MEANT CONVENIENT, NOT RECKLESS QUALIFYING STANDARDS. AN EASY WAY TO COMMUTE WHILE PROVIDING THE HIGHEST QUALITY LOANS THAT ARE FHA LOANS THAT CONFORM TO THE STANDARDS. Guy: GREEN PATH SAYS QUICKEN AND THE NEW PRODUCT ARE SOUND. WE’RE VERY CONFIDENT THAT THAT MORTGAGE PRODUCT IS ANYTHING THEY’RE OFFERING CONSUMERS ARE SAFE AND HELP THE CONSUMER MEET THEIR GOALS. Guy: QUICKEN IS SAYING IT’S A MUCH MORE TRANSPARENT PROCESS, YOU’LL SEE THE COSTS, THE FEES, WHY YOU QUALIFY, WHY YOU DON’T. AND IN THAT RESPECT, IT’S MORE FAIR TO CONSUMERS AND THAT’S WHY THEY’RE SAYING THAT THIS IS WHY 60% OF PEOPLE WANT TO APPLY THIS WAY. AND JUST BECAUSE IT’S AN EASY APPLICATION DOES NOT MEAN IT’S NECESSARILY AN EASY CLOSE. I’M GUY GORDON. BACK TO YOU. Carmen: IF THERE WAS CONFUSION AS WE CAN SEE THERE WAS SOME, DOES QUICKEN THINK THE $10 MILLION AD WAS WORTH IT? Guy: THAT’S A PRETTY BIG PRICE TAG. BUT CONSIDER THIS: 14,000 PEOPLE HIT THEIR WEBSITE WITHIN 60 SECONDS OF THAT AD AIRING, SO IT DID WHAT IT WAS DESIGNED TO DO. FOR PEOPLE CONSIDERING BUYING A HOME, IT PIQUED THEIR INTEREST AND THEY DID ACT.

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