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 – July 2022

July total open orders were down 13% compared with June (with 20 business days in July compared with 22 days in June) and were down 36% compared with July of last year (with 20 business days this year compared with 21 business days last year). Open orders per day in July were 3,400, down 4% sequentially, and down 33% compared with last year. July purchase open orders were 1,800 per day, down 8% compared with last month, and refinance transactions were down 6% to 500 open orders per day. Compared with July 2021, purchase open orders per day were down 20%, while refinance transactions per day were down 69%. Total closed orders per day were 2,700 in July, down 8% on a sequential basis, and down 33% compared with July 2021. In July, the refinance share of residential transactions was 23% for open orders and 26% for closed orders. 

Year to date 2022, open orders per day were 4,100 down 24% compared with the same period last year. Closed orders per day were 3,200, down 28% compared with the same period last year. Year to date purchase open orders per day were down 11% compared with last year, while refinance open orders were down 62% compared with last year. The refinance share of residential transactions year to date was 28% for open orders, compared with 48% 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.