Quicken Loans spent more than $5 million bringing its Rocket Mortgage app to the masses during Super Bowl 50. Now, the company is facing a bunch of backlash over what many consumers see as an irresponsible product.
The Rocket Mortgage tool launched at the end of 2015 with the goal of completely a mortgage completely online.
The ad starts: “Here’s what we were thinking: what if we did for mortgages what the internet did for buying music, and plane tickets and shoes?”
The ad then touted that people can get a mortgage on their phones, and asked: “If it could be that easy, wouldn’t more people buy homes?”
The goal of the ad was to promote the convenience of the new app, according to Quicken Loans President Jay Farner.
But the 60-second spot didn’t give the desired perception to many social media users.
Here’s a typical viewer response targeted at a repeat of the 2008 financial crisis:
Rocket Mortgage: explaining the 2008 financial crisis in one commercial
— Rahul Vedantam (@RahulVedantam) February 8, 2016
Quicken Loans for its part is standing behind the product:
@Wyatt_Rasmussen We just saw that the current mortgage process was slow and confusing. So we fixed it. 2/2
— Quicken Loans (@QuickenLoans) February 8, 2016
The ad did provide the Consumer Finance Protection Bureau with an opportunity to talk about the important of examining all of your options before signing a mortgage.
— consumerfinance.gov (@CFPB) February 8, 2016
This was the company’s first Super Bowl ad. You can watch it here: