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 – May 2019

May total open orders were flat compared with April (with 22 business days in both periods) and were up 4% compared with May of last year (with 22 business days in both periods). Open orders per day in May were 4,400, flat sequentially, and up 4% compared with last year. May purchase open orders were 2,300 per day, flat compared with last month, and refinance transactions were down 2% to 1,300 open orders per day. Compared with May 2018, purchase open orders per day were down 4%, while refinance transactions per day were up 30%. Total closed orders per day were 3,100 in May, up 10% on a sequential basis, and up 3% compared with May 2018. In May, the refinance share of residential transactions was 36% for open orders and 34% for closed orders.

May year to date 2019, open orders per day were 4,000, down 4% compared with May YTD 2018. Closed orders per day were 2,700, down 7% compared with May YTD 2018. Year to date purchase open orders per day were down 5% compared with last year, and year to date refinance open orders were up 1% compared with last year. The refinance share of residential transactions for 2019 year to date was 35% for open orders, compared with 34% 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.