Spam is for doughnuts

I understand the economics of spam - that you need a very low conversion rate for it to be worthwhile and therefore the scam doesn't have to be too sophisticated, but honestly, some of it is just so half-hearted. Take this example I received yesterday.

Dear Homeowner,
[MY ADDRESS]

[URL]

You have been approved for a $ 976,596 house loan (2.9 fixed)
This offer is being presented to you right now!. Your credit history is in no way a factor. To take advantage of this Limited Time Opportunity, please take a minute and confirm your curiosity or intention to accept this loan, at the following web-site:

[URL]

Best Regards
Don Nut

Leaving aside the factual issues that I'm not a homeowner, and I wouldn't want to be borrowing dollars - who in their right mind would entrust a major financial transaction to a cold-calling salesman who isn't embarrassed that his name spells 'donut'?