JPMorgan Chase & Co. is calling on a pair of reality television stars to help regain a share of the mortgage market.
According to a Reuters report
, the lender will debut new television advertisements later this month featuring Drew and Jonathan Scott of the HGTV series “Property Brothers.” Chase is also planning to add cardboard cutouts of the Scotts to its branches to call attention to its residential home loan business.
The new focus on consumer lending follows a skein of 13 mortgage-related legal settlements totaling $31 billion and a retreat from residential mortgages in favor of other banking businesses, including credit cards and deposit accounts.
However, a recent in-house study found less than one in 10 Chase customers with home loans got them directly from the bank.
As for the Scotts, they recently filmed their first Chase commercial
at a home and a bank branch in White Plains, N.Y., which will air next month. According to a Lohud.com report, the brothers were in the New York City suburb to shoot new episodes of their series.
“We were looking for a partner who had a powerful, authentic brand reputation and one that would resonate with our customers,” said Amy Bonitatibus, chief marketing officer for Chase Mortgage.