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 – March 2021

March total open orders were up 9% compared with February (with 23 business days in March compared with 19 business days in February) and were down 13% compared with March of last year (with 23 business days in March this year compared with 22 business days last year). Open orders per day in March were 5,600, down 10% sequentially, and down 17% compared with last year. March purchase open orders were 2,400 per day, up 8% compared with last month, and refinance transactions were down 28% to 2,000 open orders per day. Compared with March 2020, purchase open orders per day were up 29%, while refinance transactions per day were down 50%. Total closed orders per day were 4,800 in March, down 1% on a sequential basis, and up 36% compared with March 2020. In March, the refinance share of residential transactions was 46% for open orders and 60% for closed orders.

For the first quarter of 2021, open orders per day were 6,000 up 6% compared with the fourth quarter of 2020, and up 4% compared with the first quarter of 2020. Closed orders per day were 4,700, up 1% compared with the fourth quarter of 2020 and up 44% compared with the first quarter of 2020. First quarter purchase open orders per day were up 15% compared with last year, while refinance open orders were down 8% compared with last year. The refinance share of residential transactions for the first quarter was 54% for open orders, compared with 59% in 2020.

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.