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 – December 2021

December total open orders were down 9% compared with November (21 business days in December compared with 20 business days in November) and were down 31% compared with December of last year (21 business days this year compared with 22 business days in December last year). Open orders per day in December were 3,800, down 14% on a sequential basis, and down 27% compared with last year. December purchase open orders were 1,600 per day, down 21% compared with last month, and refinance transactions were down 14% to 1,200 open orders per day. Compared with December 2020, purchase open orders per day down 7%, while refinance transactions per day were down 58%. Total closed orders per day were 4,000 in December, up 5% on a sequential basis, and down 17% compared with December 2020. In December, the refinance share of residential transactions was 43% for open orders and 41% for closed orders.

For the fourth quarter of 2021, open orders per day were 4,300, down 15% compared with the third quarter of 2021, and closed orders per day were 3,900, down 2%. Fourth quarter purchase open orders per day were down 16% compared with the third quarter of 2021, and down 4% compared with the fourth quarter of 2020. Refinance open orders for the fourth quarter were down 24% compared with the third quarter of 2021, and down 54% compared to the fourth quarter of last year.

For the full year of 2021, open orders per day were down 13% compared with last year, and closed orders were up 1%. Full year 2021 purchase open orders per day were up 6% compared with last year, while refinance open orders were down 37% compared with last year. The refinance share of residential transactions in 2021 was 46% 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.