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 – October 2020

October total open orders were down 1% compared with September (with 22 business days in the current month compared with 21 days in the prior month of September) and were up 23% compared with October 2019 (with 22 business days in October this year compared with 23 business days last year). Open orders per day in October were 5,800, down 6% sequentially, and up 29% compared with last year. October purchase open orders were 2,100 per day, down 10% compared with last month, and refinance transactions were down 3% to 2,900 open orders per day. Compared with October 2019, purchase open orders per day were up 18%, while refinance transactions per day were up 80%. Total closed orders per day were 4,500 in October, down 2% on a sequential basis, and up 26% compared with October 2019. In October, the refinance share of residential transactions was 58% for open orders and 58% for closed orders.

Year to date through October, open orders per day were up 32% compared with last year, and closed orders were up 30%. Year to date purchase open orders per day were up 2% compared with last year, while refinance open orders were up 102% compared with last year. The refinance share of residential transactions year to date 2020 was 59% for open orders, compared with 42% 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.