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 – July 2019

July total open orders were up 4% compared with June (with 22 business days in July compared with 20 business days in June) and were up 17% compared with July of last year (with 22 business days this year compared with 21 business days last year). Open orders per day in July were 4,800, down 5% sequentially, and up 12% compared with last year. July purchase open orders were 2,300 per day, up 1% compared with last month, and refinance transactions were down 6% to 1,600 open orders per day. Compared with July 2018, purchase open orders per day were up 3%, while refinance transactions per day were up 65%. Total closed orders per day were 3,300 in July, up 2% on a sequential basis, and up 11% compared with July 2018. In July, the refinance share of residential transactions was 41% for open orders and 40% for closed orders.

July year to date 2019, open orders per day were 4,300, up 2% compared with July YTD 2018. Closed orders per day were 2,900, down 3% compared with July YTD 2018. Year to date purchase open orders per day were down 3% compared with last year, and year to date refinance open orders were up 19% compared with last year. The refinance share of residential transactions for 2019 year to date was 37% for open orders, compared with 33% for year to date 2018.

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.