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 – March 2019

March total open orders were up 18% compared with February (with 21 business days in March compared with 19 business days in February) and were down 10% compared with March of last year (with 21 business days in March this year compared with 22 business days last year). Open orders per day in March were 4,000, up 7% sequentially, while declining 5% compared with last year. March purchase open orders were 2,100 per day, up 7% compared with last month, and refinance transactions were up 13% to 1,100 open orders per day. Compared with March 2018, purchase open orders per day were down 5%, while refinance transactions per day were down 2%. Total closed orders per day were 2,900 in March, up 19% on a sequential basis, and down 2% compared with March 2018. In March, the refinance share of residential transactions was 35% for open orders and 32% for closed orders.

For the first quarter of 2019, open orders per day were 3,700 up 16% compared with the fourth quarter of 2018, and down 9% compared with the first quarter of 2018. Closed orders per day were 2,500, down 12% compared with the fourth quarter of 2018 and down 12% compared with the first quarter of 2018. First quarter purchase open orders per day were down 6% compared with last year, while refinance open orders were down 15% compared with last year. The refinance share of residential transactions for the first quarter was 34% for open orders, compared with 37% in 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.