Title Order Counts

First American's Title 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 only, which disproportionately reflect title order activity in the western U.S. The commentary and excel table do not include transaction activity from First American’s agents.

Title order updates will be posted approximately 10-12 days after the end of each calendar month.

Monthly Overview – November 2018

November total open orders were down 16% compared with October (with 20 business days in November vs. 23 business days in October) and were down 13% compared with November of last year (with the same 20 business days in both periods). Open orders per day in November were 3,400, down 3% sequentially, while declining 13% compared with last year. November purchase open orders were 1,700 per day, down 5% compared with last month, and refinance transactions were also down 5% to 800 open orders per day. Compared with November 2017, purchase open orders per day were down 3% driven by a decline in existing home (resale) orders, while refinance transactions per day were down 41%. Total closed orders per day were 2,800 in November, up 2% on a sequential basis, and down 16% compared with November 2017. In November, the refinance share of residential transactions was 31% for open orders and 29% for closed orders.

Year to date through November, open orders per day were down 8% compared with last year, and closed orders were down 11%. Year to date purchase open orders per day were down 1% compared with last year, while refinance open orders were down 25% compared with last year. The refinance share of residential transactions year to date was 32% for open orders, compared with 39% in 2017.

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.