August Mortgage Mail Volume Hits Highest Level Since 2008

Mortgage direct mail may be down, but it's not dead and buried, marketing firm ""Mintel Comperemedia"":http://www.comperemedia.com/?__cc=1 reported.

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A release from the company showed 62 million acquisition offers for mortgages were mailed to customers across the country in August, the highest monthly mail volume since May 2008. While the figure is still far below its peak├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øan average 238 million in 2005├â┬ó├óÔÇÜ┬¼├óÔé¼┬ØMintel Comperemedia says the increase may provide a look at an optimistic future.

With the ""Federal Reserve"":http://www.federalreserve.gov/ committing to keep mortgage rates low until mid-2015 and demand for home loans improving, the environment is right for lenders to go full force with their direct marketing efforts, the company said.

Another driving force behind the increase in mortgage mail volumes is ""Discover's"":https://www.discover.com/home-loans/ arrival on the origination scene following its purchase of Tree.com's Home Loan Center. Mintel Comperemedia SVP Andrew Davidson said the move is ""in line with the company's strategy to reduce its reliance on credit cards and to cross-sell other financial products.""

With demand ramping up and more competitors entering the marketplace, we may start seeing direct mail volume increase further, Davidson added.

""As lenders such as ""Mortgage Investors Corporation"":http://www.mortgageinvestors.com/, ""Quicken Loans"":http://www.quickenloans.com/, and Discover ramp up their refinancing activity, other lenders may be forced to respond to counter the threat, fueling an increase in competitive activity in the mortgage market,"" he said.