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 – June 2021

June total open orders were up 6% compared with May (with 22 business days in June compared with 20 business days in May) and were down 15% compared with June of last year (with 22 business days in both periods). Open orders per day in June were 5,100, down 3% sequentially, and down 15% compared with last year. June purchase open orders were 2,400 per day, unchanged compared with last month, and refinance transactions were down 8% to 1,700 open orders per day. Compared with June 2020, purchase open orders per day were up 2%, while refinance transactions per day were down 43%. Total closed orders per day were 4,200 in June, unchanged on a sequential basis, and down 3% compared with June 2020. In June, the refinance share of residential transactions was 41% for open orders and 43% for closed orders.

For the second quarter of 2021, open orders per day were 5,100 down 14% compared with the first quarter of 2021, and down 6% compared with the second quarter of 2020. Closed orders per day were 4,200, down 10% compared with the first quarter of 2021 and up 7% compared with the second quarter of 2020. Second quarter purchase open orders per day were up 24% compared with last year, while refinance open orders were down 40% compared with last year. The refinance share of residential transactions for the second quarter 2021 was 42% for open orders, compared with 60% in 2020.

Year to date through June, open orders per day were down 1% compared with last year, and closed orders were up 23%. Year to date purchase open orders per day were up 20% compared with last year, while refinance open orders were down 24% compared with last year. The refinance share of residential transactions year to date 2021 was 48% for open orders, compared with 60% 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.