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 – December 2019

December total open orders were down 9% compared with November (with 21 business days in December compared with 19 business days in November) and were up 28% compared with December of last year (with 21 business days this year vs. 20 business days in December of last year). Open orders per day in December were 3,400, down 18% sequentially, and up 22% compared with last year. December purchase open orders were 1,400 per day, down 18% compared with last month, and refinance transactions were down 21% to 1,300 open orders per day. Compared with December 2018, purchase open orders per day were up 2%, while refinance transactions per day were up 76%. Total closed orders per day were 3,600 in November, up 6% on a sequential basis, and up 25% compared with December 2018. In December, the refinance share of residential transactions was 48% for open orders and 48% for closed orders.

For the fourth quarter of 2019, open orders per day were 4,000, down 19% compared with the third quarter of 2019, and closed orders per day were 3,600, up 2%. Fourth quarter purchase open orders per day were down 23% compared with the third quarter of 2019, and up 1% compared with the fourth quarter of 2018. Refinance open orders for the fourth quarter were down 23% compared with the third quarter of 2019, and up 95% compared to the fourth quarter of last year.

For the full year 2019, open orders per day were 4,300, up 11% compared with full year 2018. Closed orders per day were 3,200, up 9% compared with full year 2018. Full year 2019 purchase open orders per day were down 2% compared with last year, and full year 2019 refinance open orders were up 51% compared with last year. The refinance share of residential transactions for 2019 was 43% for open orders, compared with 33% for 2018.

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.