Industry News

Consumers question mortgage advertising

Poll: Majority view marketing and ads as not credible

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Consumer trust and sentiment towards various home-loan options is waning amidst the collapse of some major subprime mortgage lenders and an overall housing downturn. A new poll of consumers shows that many have questioned the credibility of current marketing and advertising messages for mortgage products, which isn't much of a surprise given the negativity surrounding the subprime market. Sixty-six percent of respondents in a Harris Interactive poll released today said they view the advertising and marketing of mortgage products as not credible, while 34 percent took the opposite view. Twenty-two percent reported that they view the advertising and marketing of these products as "not at all credible." When probed further about their perceptions of the financial institutions that provide mortgages, only one-quarter (27 percent) of participants reported favorable perceptions, with just three percent saying their perceptions are very favorable. Sanford Brumley, vice preside...