Title Order Counts

First American Title's Order Transactions By Month For U.S. 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 10-12 days after month-end and will include opened, as well as closed title order transactions.

Monthly Overview – February 2017

February total open orders were up 8% compared with January (with 19 business days in February compared with 20 days in January), and were down 25% compared with February of last year (with 19 business days this year compared with 20 days in February 2016).  Open orders per day in February were 4,200, up 14% sequentially, and were down 21% compared with last year. February purchase open orders were 2,000 per day, up 16% compared with last month, while refinance transactions were up 1% but still averaging 1,200 per day (rounded basis). Compared with February 2016, purchase open orders per day were flat, while refinance transactions per day were down 48%. Total closed orders per day were 3,100 in February, down 2% sequentially, but up 1% compared with February 2016. In February, the refinance share of residential transactions was 37% for open orders and 45% for closed orders.

First quarter to date, open orders per day were 3,900, down 8% compared with the fourth quarter of 2016, and closed orders per day were 3,100, down 24%. First quarter to date, purchase open orders per day were up 15% compared with the fourth quarter of 2016, while refinance open orders were down 32%.

Year to date through February, open orders per day were down 19% compared with last year, and closed orders were up 5%. Year to date purchase open orders were flat compared with last year, while refinance open orders were down 40%. The refinance share of residential transactions year to date was 39% for open orders, compared with 52% in 2016.

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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