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 – May 2018

May total open orders were essentially flat compared with April (with 22 business days in May vs. 21 business days in April), and were down 13% compared with May of last year (with 22 business days in both periods). Open orders per day in May were 4,200, down 4% sequentially, and declined 13% compared with last year. May purchase open orders were 2,400 per day, up 1% compared with last month, with refinance transactions down 6% to 1,000 per day. Compared with May 2017, purchase open orders per day were down 1%, while refinance transactions per day were down 25%. Total closed orders per day were 3,000 in May up 3% sequentially, and down 9% compared with May 2017. In May, the refinance share of residential transactions was 29% for open orders and 29% for closed orders.

Second quarter to date (through May) open orders per day were 4,300, up 6% compared with the first quarter of 2018, and closed orders per day were 3,000, up 7%. Second quarter to date purchase open orders per day were up 16% compared with the first quarter of 2018, and up 1% compared with the second quarter of 2017. Refinance open orders for second quarter to date were down 14% compared with the first quarter of 2018, and down 24% compared to the second quarter of last year.

Year to date through May, open orders per day were down 5% compared with last year, and closed orders were down 9%. Year to date purchase open orders were up 2% compared with last year, while refinance open orders were down 12% compared with last year. The refinance share of residential transactions year to date was 34% for open orders, compared with 37% 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.