Who’s talking about the First Time Home Buyers Tax Credit and the Home Affordable Refinance Program (HARP) in direct mail? Not too many lenders. Analysis of direct mail from the first half of this year shows that neither government initiative has achieved much traction in direct marketing.
Some lenders, like Wells Fargo Home Mortgage and SunTrust Mortgage, have discussed the programs in their customer newsletters. Still others have sent email marketing or postcard alerts to notify possible borrowers of the potential aid. Overall however, the government initiatives haven’t been greatly discussed.
With the $8,000 tax credit for qualified first-time home buyers expiring December 1, the window is narrowing for people to take advantage of it. However, HARP is only now getting up and running, so plenty of opportunities exist for lenders to participate and promote it to customers who may need assistance. With renewed optimism surrounding the housing industry, these programs can hopefully help stimulate sales and stave-off foreclosures.
Do you expect lenders to latch onto HARP and promote it through direct marketing? Why do you think they haven’t started to leverage government initiatives already?

Bookmark It

Hide Sites