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 – October 2017

October total open orders were up 4% compared with September (with 22 business days in October compared with 20 business days in September), and were down 14% compared with October of last year (with 22 business days this October compared with 21 days last year). Open orders per day in October were 4,100, down 5% sequentially, and down 18% compared with last year. October purchase open orders were 1,900 per day, down 7% compared with last month, with refinance transactions down 11% to 1,300 per day. Compared with October 2016, purchase open orders per day were up 5%, while refinance transactions per day were down 41%. Total closed orders per day were 3,200 in October, down 6% sequentially, and down 20% compared with October 2016. In October, the refinance share of residential transactions was 41% for open orders and 41% for closed orders.

For the fourth quarter through October, open orders per day were 4,100, down 8% compared with the third quarter of 2017, and closed orders per day were 3,200, down 5%. Fourth quarter through October, purchase open orders per day were down 13% compared with the third quarter of 2017, but up 16% compared with the fourth quarter of 2016. Refinance open orders for fourth quarter through October were down 4% compared with the third quarter of 2017, but down 26% compared to the fourth quarter of last year.

Year to date through October, open orders per day were down 17% compared with last year, and closed orders were down 13%. Year to date purchase open orders were up 2% compared with last year, while refinance open orders were down 41%. The refinance share of residential transactions year to date was 38% for open orders, compared with 52% 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.