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 2017

July total open orders were down 10% compared with June (with 20 business days in July compared with 22 business days in June), and were down 24% compared with July of last year (with 20 business days in both periods). Open orders per day in July were 4,600, down 1% sequentially, and down 24% compared with last year. July purchase open orders were 2,300 per day, flat compared with last month, with refinance transactions down 7% to 1,300 per day. Compared with July 2016, purchase open orders per day were up 4%, while refinance transactions per day were down 53%. Total closed orders per day were 3,400 in July, down 1% sequentially, and down 19% compared with July 2016. In July, the refinance share of residential transactions was 36% for both open and closed orders.

Third quarter to date (July) open orders per day were 4,600, down 3% compared with the second quarter of 2017, and closed orders per day were 3,400, up 3%. Third quarter to date, purchase open orders per day were down 1% compared with the second quarter of 2017, and flat compared with the second quarter of 2016. Refinance open orders for third quarter to date (July)were down 3% compared with the second quarter of 2017, but down 40% compared to last year.

Year to date through July, open orders per day were down 16% compared with last year, and closed orders were down 9%. Year to date purchase open orders were up 2% compared with last year, while refinance open orders were down 40%. The refinance share of residential transactions year to date was 37% for open orders, compared with 50% 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.