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 2022

October total open orders were down 12% compared with September (with 21 business days in both periods) and were down 40% compared with October of last year (with 21 business days in both periods). Open orders per day in October were 2,700, down 12% sequentially, and down 40% compared with last year. October purchase open orders were 1,300 per day, down 16% compared with last month, and refinance transactions were down 12% to 400 open orders per day. Compared with October 2021, purchase open orders per day were down 34%, while refinance transactions per day were down 72%. Total closed orders per day were 2,100 in October, down 10% on a sequential basis, and down 45% compared with October 2021. In October, the refinance share of residential transactions was 24% for open orders and 25% for closed orders.

Year to date 2022, open orders per day were 3,800 down 28% compared with the same period last year. Closed orders per day were 2,900, down 31% compared with the same period last year. Year to date purchase open orders per day were down 16% compared with last year, while refinance open orders were down 64% compared with last year. The refinance share of residential transactions year to date was 27% for open orders, compared with 47% in 2021.

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.