The Fannie Mae Foundation has named MDB Communications Inc., Washington, to handle direct mail responsibilities on an account valued at an estimated $1 million.
Three agencies competed for the account that previously was handled by the now-defunct Pamet River Partners, Boston. Names of the other agencies were not disclosed.
“It's all about the education of folks who are considering purchasing homes,” said Cary Hatch, president of MDB.
The agency will use direct mail mainly to raise awareness among first-time and prospective buyers about the home-purchasing experience and the role of credit and mortgages in that process. MDB's marketing push will run through March 2002.
The private nonprofit foundation based in Washington is designed to help create homeownership and housing opportunities through partnerships with financial institutions and community initiatives. As of January 2000, the foundation said, it has provided more than 9 million people with free, step-by-step home-buying information. The foundation was started in 1979 by its loan provider parent, Fannie Mae.
MDB clients include Johns Hopkins University, Kiplinger, National Geographic Society, Global One and the National School Boards Association. The full-service advertising and direct marketing agency also does pro bono work for the Partnership for a Drug-Free America and Samaritan Inns for the homeless. Billings last year were $10.5 million.