Title Order Counts

First American Title's Order Transactions By Month For U.S. Direct Title Operations

The monthly overview and historical title order data below are prepared based on the company's production reporting system that tracks opened and closed title insurance order counts for First American's U.S. direct title insurance operations. The chart does not include orders opened or closed with First American agents. Updated postings will be made approximately 10-12 days after month-end and will include opened, as well as closed title order transactions.

Monthly Overview – September 2017

September total open orders were down 15% compared with August (with 20 business days in September compared with 23 business days in August), and were down 24% compared with September of last year (with 20 business days this September compared with 21 days last year). Open orders per day in September were 4,300, down 2% sequentially, and down 20% compared with last year. September purchase open orders were 2,000 per day, down 6% compared with last month, with refinance transactions up 7% to 1,500 per day. Compared with September 2016, purchase open orders per day were up 4%, while refinance transactions per day were down 41%. Total closed orders per day were 3,400 in September, up 3% sequentially, and down 19% compared with September 2016. In September, the refinance share of residential transactions was 42% for open orders and 37% for closed orders.

For the third quarter, open orders per day were 4,400, down 6% compared with the second quarter of 2017, and closed orders per day were 3,400, up 2%. Third quarter purchase open orders per day were down 7% compared with the second quarter of 2017, but up 2% compared with the third quarter of 2016. Refinance open orders for third quarter were up 5% compared with the second quarter of 2017, but down 46% compared to the third quarter of last year.

Year to date through September, open orders per day were down 17% compared with last year, and closed orders were down 12%. Year to date purchase open orders were up 2% compared with last year, while refinance open orders were down 41%. The refinance share of residential transactions year to date was 38% for open orders, compared with 51% in 2016.

Historical Title Order Data

PLEASE NOTE ALL NUMBERS ARE APPROXIMATE. THOUGH PREVIOUSLY REPORTED DATA MAY BE ADJUSTED PERIODICALLY, FIRST AMERICAN DOES NOT UNDERTAKE TO UPDATE DATA AFTER THE DATE ON WHICH THEY ARE GIVEN. INVESTORS ARE ENCOURAGED TO USE THIS INFORMATION WITH CAUTION.