Where's the Fine Print? Advertising and the Mortgage Market Crisis
分析了美国抵押贷款广告中优质与次级贷款产品的营销差异，发现优质贷款强调购房梦和低利率，而次级贷款利用恐惧诉求，可能加剧信息不对称并导致危机。
Current conditions in the U.S. mortgage industry provide a rich context for exploring the positioning and information used in advertisements for mortgage products. This article examines television, radio, and print advertising messages employed to promote prime and subprime mortgage products. An analysis of these advertising messages reveals marked differences in the marketing for prime and subprime mortgage offers. Prime mortgage market advertisements tended to emphasize ‘the American dream of homeownership’ and low rates, and often provide detailed loan terms. On the other hand, subprime loan advertisements were based on fear appeals, emphasizing debt problems and encouraging consumers to rely on the lender/broker for help. These important differences in the information available to consumers for various mortgage products may have exacerbated industry information asymmetries and contributed to the current mortgage crisis.