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 – July 2018

July total open orders were unchanged compared with June (with 21 business days both periods) and were down 1% compared with July of last year (with 21 business days this July vs. 20 business days in July of last year). Open orders per day in July were 4,300, unchanged sequentially, while declining 6% compared with last year. July purchase open orders were 2,200 per day, down 2% compared with last month, while refinance transactions were down 1% at 1,000 per day. Compared with July 2017, purchase open orders per day were down 3%, driven primarily by a decline in new home orders, while refinance transactions per day were down 25%. Total closed orders per day were 3,000 in July down 7% sequentially, and down 13% compared with July 2017. In July, the refinance share of residential transactions was 30% for open orders and 28% for closed orders.

For the third quarter to date (July), open orders per day were 4,300, down 1% compared with the second quarter of 2018, and closed orders per day were 3,000, down 3%. In the third quarter to date (July) purchase open orders per day were down 5% compared with the second quarter of 2018, and up 2% compared with the third quarter of 2017. Refinance open orders for third quarter (July) were down 3% compared with the second quarter of 2018, and down 30% compared to the third quarter of last year.

Year to date through July, open orders per day were down 5% compared with last year, and closed orders were down 9%. Year to date purchase open orders per day were up 1% compared with last year, while refinance open orders were down 17% compared with last year. The refinance share of residential transactions year to date was 33% for open orders, compared with 37% 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.