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 – September 2019

September total open orders were down 15% compared with August (with 20 business days in September compared with 22 business days in August) and were up 37% compared with September of last year (with 20 business days this year compared with 19 business days last year). Open orders per day in September were 4,900, down 7% sequentially, and up 30% compared with last year. September purchase open orders were 2,000 per day, down 1% compared with last month, and refinance transactions were down 13% to 1,900 open orders per day. Compared with September 2018, purchase open orders per day were up 2%, while refinance transactions per day were up 117%. Total closed orders per day were 3,800 in September, up 10% on a sequential basis, and up 31% compared with September 2018. In September, the refinance share of residential transactions was 49% for open orders and 49% for closed orders. 

In the third quarter of 2019, open orders per day were 5,000, up 25% compared with the third quarter of 2018, and closed orders per day were 3,500, up 20% compared with last year. Third quarter purchase open orders per day were up 2% compared with the third quarter of 2018. Refinance open orders for third quarter were up 105% compared with the third quarter last year. 

September year to date 2019, open orders per day were 4,500, up 8% compared with September YTD 2018. Closed orders per day were 3,000, up 3% compared with September YTD 2018. Year to date purchase open orders per day were down 2% compared with last year, and year to date refinance open orders were up 40% compared with last year. The refinance share of residential transactions for 2019 year to date was 41% for open orders, compared with 33% for year to date 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.