Super Bowl ‘rocket’ mortgage ad brings jeers — and loan may not be so quick

And I certainly was not paying attention to the Super Bowl commericals last night. I didn’t know that Quicken Loans had a mortgage ad. And the ad certainly sounds like a subprime loan pitch.

“You could get a mortgage on your phone,” according to the Super Bowl ad.

It was a promotion for Quicken Loans’ Rocket Mortgage, so named because it tries to connect applicants with mortgages in just eight minutes. That’s all the time that’s needed to get a mortgage – not just a pre-approval, Quicken claims.

And when consumers get mortgages, it’s a shot in the arm for the entire economy, the commercial tells us.
For many viewers, that hit a little too close to home to the business model that cratered the financial system in 2008.

Read on.

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