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 – August 2021

August total open orders were up 5% compared with July (with 22 business days in August compared with 21 business days in July) and were down 19% compared with August of last year (with 22 business days this year compared with 21 business days last year). Open orders per day in August were 5,100, unchanged on a sequential basis, and down 23% compared with last year. August purchase open orders were 2,200 per day, down 2% compared with last month, and refinance transactions were up 4% to 1,800 open orders per day. Compared with August 2020, purchase open orders per day were down 11%, while refinance transactions per day were down 44%. Total closed orders per day were 3,900 in August, down 2% on a sequential basis, and down 14% compared with August 2020. In August, the refinance share of residential transactions was 45% for open orders and 45% for closed orders.

Year to date through August, open orders per day were down 7% compared with last year, and closed orders were up 13%. Year to date purchase open orders per day were up 11% compared with last year, while refinance open orders were down 30% compared with last year. The refinance share of residential transactions year to date 2021 was 48% for open orders, compared with 59% in 2020.

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.