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 – October 2021

October total open orders were down 7% compared with September (with 21 business days in both periods) and were down 26% compared with October of last year (with 21 business days October this year compared with 22 business days last year). Open orders per day in October were 4,500, down 7% on a sequential basis, and down 22% compared with last year. October purchase open orders were 2,000 per day, down 6% compared with last month, and refinance transactions were down 15% to 1,500 open orders per day. Compared with October 2020, purchase open orders per day were down 5%, while refinance transactions per day were down 50%. Total closed orders per day were 3,900 in October, down 2% on a sequential basis, and down 15% compared with October 2020. In October, the refinance share of residential transactions was 42% for open orders and 45% for closed orders.

Year to date through October, open orders per day were down 10% and closed orders were up 6% compared with last year. Year to date purchase open orders per day were up 7% compared with last year, while refinance open orders were down 33% compared with last year. The refinance share of residential transactions year to date 2021 was 47% 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.