More Mail for Personal Loans and Credit Lines

Lenders turn to unsecured products as housing market floundersWith the mortgage and home equity markets in crisis, many lending companies have shifted focus. No longer trying to generate business primarily through housing-related loans, Mintel Comperemedia finds lenders increasingly promoting unsecured loans and unsecured lines of credit. In the fourth quarter of 2007, for the first time in two years, Mintel Comperemedia saw lenders send more direct mail offers for unsecured loan and credit line products than for secured loan and line products. Companies sent approximately 522 million unsecured loan and line mailings to consumers, but they shipped out only 468 million for mortgages and home equity products.