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As more Americans seek to purchase homes in an improving market, they’ll need mortgage loans to do so. According to the latest Sector Focus commentary from Turner Investments, mortgage lending may grow by double-digit rates in 2013, to the benefit of title insurers and banks that specialize in mortgages and refinancings.
Titled How the housing recovery is helping banks and title insurers, the piece was written by the five Turner analysts who cover the financial-services sector: Pablo Echavarria, global security analyst; David Honold, portfolio manager/global security analyst; Sorin Roibu, global security analyst; Mark Turner, president and senior portfolio manager; and Rick Wetmore, portfolio manager/global security analyst. Turner Investments, based in Berwyn, Pennsylvania, publishes Sector Focus commentaries monthly as part of the continuing efforts of its five teams of security analysts to monitor market sectors for its growth-stock portfolios.
According to the analysts, “Just as you can’t talk about the original movie version of King Kong without mentioning Fay Wray, it’s hard to talk about the state of mortgage lending without referring to the health of the housing market.” Since signs of improvement in the housing market abound, like a pickup in new-household formation and home-building rates at five-year highs, a healthy increase in mortgage lending should be on its way.
The analysts identify five financial-services firms providing mortgage loans, refinancings, or title insurance that in their judgment appear to be well positioned to benefit as the housing market rights itself: EverBank Financial, First Republic Bank, Texas Capital Bancshares, Wells Fargo, and Fidelity National Financial.
To read this January 2013 Sector Focus in its entirety, click on this link to the Turner Investments Web site: www.turnerinvestments.com/financial-services. Or call 484.329.2407 for a free copy of the piece.
The views, opinions, and content presented are for informational purposes only. They are not intended to reflect a current or past recommendation; investment, legal, tax, or accounting advice of any kind; or a solicitation of an offer to buy or sell any securities or investment services. Except as otherwise specified, any companies, sectors, securities, and/or markets discussed are solely for illustrative purposes regarding economic trends and conditions or investment process and may or may not be held by Turner, the Turner Funds, or other investment vehicles or accounts managed by Turner or its affiliates. Past performance is no guarantee of future results.
Turner Investments refers to Turner Investments, L. P., its subsidiaries, and affiliates. Nothing presented should be considered to be an offer to provide any Turner product or service in any jurisdiction that would be unlawful under the securities laws of that jurisdiction.
Turner Investments, founded in 1990, is an investment firm based in Berwyn, Pennsylvania. As of December 31, 2012, we managed more than $10 billion in growth, global/international, and long/short investment portfolios in stocks to both institutions and individuals.
As of December 31, 2012, Turner held in client accounts 569,440 shares of EverBank Financial, 671,519 shares of Fidelity National Financial, 739,105 shares of First Republic Bank, 761,320 shares of Texas Capital Bancshares, and 119,950 shares of Wells Fargo.
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