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 – April 2022

April total open orders were down 15% compared with March (with 21 business days in April compared with 23 business days in March) and were down 21% compared with April of last year (with 21 business days this year compared with 22 business days last year). Open orders per day in April were 4,300, down 7% sequentially, and down 17% compared with last year. April purchase open orders were 2,100 per day, down 2% compared with last month, and refinance transactions were down 22% to 700 open orders per day. Compared with April 2021, purchase open orders per day were down 10%, while refinance transactions per day were down 59%. Total closed orders per day were 3,500 in April, up 2% on a sequential basis, and down 19% compared with April 2021. In April, the refinance share of residential transactions was 26% for open orders and 32% for closed orders.

Year to date 2022, open orders per day were 4,400 up down 23% compared with the same period last year. Closed orders per day were 3,400, down 27% compared with the same period last year. Year to date purchase open orders per day were down 8% compared with last year, while refinance open orders were down 60% compared with last year. The refinance share of residential transactions for the first four months of 2022 was 32% for open orders, compared with 51% 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.