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 – March 2018

March total open orders were up 19% compared with February (with 22 business days in March vs. 19 business days in February), and were down 6% compared with March of last year (with 22 business day this year vs. 23 business days in March 2017). Open orders per day in March were 4,300, up 3% sequentially, but down 1% compared with last year. March purchase open orders were 2,200 per day, up 3% compared with last month, with refinance transactions down 4% to 1,100 per day. Compared with March 2017, purchase open orders per day were up 2%, while refinance transactions per day were down 13%. Total closed orders per day were 3,000 in March, up 7% sequentially, and down 2% compared with March 2017. In March, the refinance share of residential transactions was 34% for open orders and 35% for closed orders.

For the first quarter of 2018, open orders per day were 4,100, up 10% compared with the fourth quarter of 2017, and closed orders per day were 2,800, down 15%. First quarter purchase open orders per day were up 20% compared with the fourth quarter of 2017, and up 3% compared with the first quarter of 2017. Refinance open orders for the first quarter were down 5% compared with the fourth quarter of 2017, and down 5% compared to the first quarter of last year.

Year to date through March, open orders per day were down 2% compared with last year, and closed orders were down 9%. Year to date purchase open orders were up 3% compared with last year, while refinance open orders were down 5% compared with last year. The refinance share of residential transactions year to date was 37% for open orders, compared with 38% in 2017.

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.