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 – April 2020

April total open orders were down 26% compared with March (with 22 business days in both periods) and were up 12% compared with April of last year (with 22 business days in both periods). Open orders per day in April were 5,000, down 26% sequentially, and up 12% compared with last year. April purchase open orders were 1,400 per day, down 26% compared with last month, and refinance transactions were down 27% to 3,000 open orders per day. Compared with April 2019, purchase open orders per day were down 38%, while refinance transactions per day were up 128%. Total closed orders per day were 3,700 in April, up 3% on a sequential basis, and up 28% compared with April 2019. In April, the refinance share of residential transactions was 68% for open orders and 64% for closed orders.

April year to date 2020, open orders per day were 5,500, up 41% compared with April YTD 2019. Closed orders per day were 3,400, up 31% compared with April YTD 2019. Year to date purchase open orders per day were down 9% compared with last year, and year to date refinance open orders were up 169% compared with last year. The refinance share of residential transactions for 2020 year to date was 61% for open orders, compared with 35% for year to date 2019.

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.