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 – Feburary 2020

February total open orders were up 17% compared with January (with 19 business days in February compared with 21 business days in January) and were up 55% compared with February of last year (with the same 19 business days in both periods). Open orders per day in February were 5,900, up 29% sequentially, and up 55% compared with last year. February purchase open orders were 2,300 per day, up 25% compared with last month, and refinance transactions were up 48% to 2,700 open orders per day. Compared with February 2019, purchase open orders per day were up 17%, however, it should be noted that February 2020 purchase open orders per day were up 13% compared to last year - excluding the impact of January orders from a recent acquisition that are included in the February purchase order counts. February refinance open orders per were up 177% compared with February 2019. Total closed orders per day were 3,400 in January, up 15% on a sequential basis, and up 38% compared with February 2019. In February, the refinance share of residential transactions was 54% for open orders and 51% for closed orders.

2019 year to date through February, open orders per day were up 45% compared with last year, and closed orders were up 39%. Year to date purchase open orders per day were up 12% compared with last year, while refinance open orders were up 136% compared with last year. The refinance share of residential transactions year to date was 52% for open orders, compared with 34% in 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.