“Push Button, Get Mortgage.” That tagline, made famous in Quicken Loans’ Rocket Mortgage commercial during Super Bowl 50, ushered in the digital mortgage era, much in the same way Apple’s “1984” Super Bowl commercial heralded the dawn of personal computing.
The products featured in each ad weren’t brand new, nor were they the first in their class. But their respective messages resonated in a way that made people pay attention and sent competitors scrambling.
The one-minute Rocket Mortgage ad, which cost somewhere in the neighborhood of $10 million just to air, extolled the virtues of homeownership and the trickle-down economics that come with it.
To be sure, the ad had its share of critics who wondered if the Detroit lender had forgotten everything that had transpired in the industry since the Great Recession. Speed and ease were associated with long-defunct bad actors and purveyors of predatory loans. How could a mortgage process that was this easy truly underwrite a safe loan, they wondered.
But here we are, nearly three years later. Digital mortgage adoption is soaring and defaults remain manageable and near historic lows. And as this month’s cover story explains, many opportunities for innovation remain.
A mere 10 months after the Rocket Mortgage Super Bowl commercial debuted, National Mortgage News launched its inaugural Digital Mortgage Conference. That first edition of the event exceeded our wildest expectations and it’s been gangbusters ever since.
This month, we’re pleased to present the third annual Digital Mortgage Conference. We’ve relocated to a much larger venue in Las Vegas this year, and we anticipate another sellout crowd. If you’re attending the event, I do hope you’ll take a moment to say hi.
This month’s issue also kicks off NMN’s 43rd year as a publication. Our very first issue was published Sept. 30, 1976, back when we were a biweekly newspaper known as National Thrift News. The website and magazine you know now as National Mortgage News has been reimagined a few times over the years. It was renamed National Thrift and Mortgage News in June 1989, and then simply National Mortgage News in April 1990.
The format changed to a weekly newspaper, which was followed by the launch of our website in the late 1990s. The current magazine format of our print edition debuted in late 2015. Likewise, a number of sister publications have come and gone as industry needs have evolved. (Anyone remember Resolution Trust Reporter from the heady days of the S&L crisis?)
While the times have certainly changed, our dedication and commitment to serving the mortgage industry have never wavered. We look forward to continuing that mission in the years to come.
Send your comments, questions and story ideas to Editor in Chief Austin Kilgore: email@example.com