Apps for apps, Quicken's new loan application application.

Quicken Loans caused quite the stir during the Super Bowl, with an ad for a new "Rocket Mortgage" app. Many thought that the product was a call to conspicuous and reckless consumption. Wall Street Journal staffer Nick Timiraos explains the ad's true meaning.

Timiroas speaks with Quicken Loans Chief Executive Bill Emerson who explains that Quicken Loans can't go back to the days of easy lending, since those programs are now nonexistent. Instead the company is simply making a difficult mortgage process a little simpler with their "Rocket Mortgage" app:

Rather, Quicken’s research suggests there are many qualified homeowners that are sitting on the sidelines and “don’t want to get engaged because they’re afraid of the process,” Mr. Emerson says. “If we could give them an opportunity to interact with technology, understand the operation, maybe we could get some of these folks who qualify off the sidelines.”

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