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 – June 2017

June total open orders were down 5% compared with May (with 22 business days both periods), and were down 17% compared with June of last year (with 22 business days in both periods). Open orders per day in June were 4,600, down 5% sequentially, and were down 17% compared with last year. June purchase open orders were 2,300 per day, down 4% compared with last month, with refinance transactions up 6% to 1,400 per day. Compared with June 2016, purchase open orders per day were up 1%, while refinance transactions per day were down 40%. Total closed orders per day were 3,500 in June, up 4% sequentially, but down 13% compared with June 2016. In June, the refinance share of residential transactions was 38% for open orders and 33% for closed orders.

Second quarter open orders per day were 4,700, up 12% compared with the first quarter of 2017, and closed orders per day were 3,300, up 8%. Second quarter purchase open orders per day were up 17% compared with the first quarter of 2017, and up 2% compared with the second quarter of 2016. Refinance open orders in the second quarter were up 7% sequentially, but down 38% compared to last year.

Year to date through June, open orders per day were down 14% compared with last year, and closed orders were down 7%. Year to date purchase open orders were up 1% compared with last year, while refinance open orders were down 38%. The refinance share of residential transactions year to date was 37% for open orders, compared with 49% 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.