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 2020

September total open orders were down 6% compared with August (with 21 business days in both periods) and were up 32% compared with September of last year (with 21 business days in September this year compared with 20 business days in 2019).  Open orders per day in September were 6,100, down 6% sequentially, and up 26% compared with last year. September purchase open orders were 2,300 per day, down 5% compared with last month, and refinance transactions were down 7% to 3,000 open orders per day. Compared with September 2019, purchase open orders per day were up 17%, while refinance transactions per day were up 55%. Total closed orders per day were 4,600 in September, up 2% on a sequential basis, and up 23% compared with September 2019. In September, the refinance share of residential transactions was 56% for open orders and 56% for closed orders.

For the third quarter of 2020, open orders per day were 6,400 up 17% compared with the second quarter of 2020, and up 29% compared with the third quarter of 2019. Closed orders per day were 4,600, up 15% compared with the second quarter of 2020 and up 30% compared with the third quarter of 2019. Third quarter purchase open orders per day were up 14% compared with last year, while refinance open orders were up 64% compared with last year. The refinance share of residential transactions for the third quarter 2020 was 57% for open orders, compared with 48% in 2019.

Year to date through September, open orders per day were up 32% compared with last year, and closed orders were up 30%. Year to date purchase open orders per day were flat compared with last year, while refinance open orders were up 105% compared with last year. The refinance share of residential transactions year to date 2020 was 59% for open orders, compared with 41% in 2019.

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.