Title Order Counts
First American Title's Order Transactions By Month For Direct Title Operations
The chart below lists approximations of opened and closed title insurance order counts for First American's direct title insurance operations for the month and year indicated. The chart does not include orders opened or closed with First American agents. Updated postings will be made approximately 12 days after month-end and will include opened, as well as closed title order transactions.
Monthly Overview
May total open orders of 152,000 were essentially flat on a sequential basis, and up 9% compared with May of the prior year. Open orders per day were 6,900 with the same comparisons to prior periods (given 22 business days in all periods). Resale and commercial transactions were higher in May relative to April and the prior year partly offset by declining refinance orders. Total closed orders in May were up 5% sequentially to 5,100 per day. Compared with May 2012, total and per day closed orders were up 15%. In May, the refinance share of residential transactions was 62% for both open and closed orders.
Compared to the first quarter 2013 run rate, open orders per day are up 12% and closed orders per day are up 4%, in the second quarter through May. There are 64 business days in the second quarter of 2013 compared to 61 business days in the first quarter.
Year-to-date through May, open orders per day are up 6% compared to the prior year, driven primarily by resale orders that are up 16%. Refinance open orders per day are down 1% year-to-date.
Title Order Count Trends
Average Orders Per Business Day
The chart above shows historical title order data for the most recent 13 months.
Open Orders: Year-Over-Year Comparison
Average Orders Per Business Day
Closed Orders: Year-Over-Year Comparison
Average Orders Per Business Day
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.
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