Here's what I like about this use of New Media:
- It's very short. Just over 2 minutes long.
- It's well written, describing the problem and solution in sufficient detail.
- It's professionally produced, the video looks good and the audio is clear.
- It's promoted on the company's home page, above the fold.
It's probably just me, but the chalkboard graphics give me the feeling that Freddie thinks I need some schoolin'. I know a lot of people don't know all that much about the mortgage process, but they still don't think they are uneducated. The refi-boom of 2001-2003 taught older homeowners a lot about the business. The younger, Web-savvy first-time borrowers are better able to learn from information around the Web. This means that lenders have to be more careful about talking down to consumers.
Secondly, creating this video in association with someone who is trusted for helping borrowers avoid fraud might have made it more powerful. Sure, Freddie is a well known and trusted brand, but when the headlines report that the company is reporting a $12 billion loss and raising the upfront fees it charges lenders for their business, asking borrowers to "call your lender" instead of trusting a local "hero" starts to sound more desperate than helpful.