Countrywide Financial (CFC) 8-K Results of Operations and Financial Condition

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
ROLLING THIRTEEN MONTH STATISTICAL DATA
(Dollars in millions)

	Sep-03			Oct-03			Nov-03			Dec-03			Jan-04			Feb-04			Mar-04
LOAN PRODUCTION
Number of Working Days in the Period		21			23			19			22			20			19			23
Average Daily Loan Applications	$	1,858		$	1,564		$	1,479		$	1,339		$	1,776		$	1,968		$	2,455
Mortgage Loan Pipeline (loans-in-process)	$	47,182		$	42,650		$	38,841		$	32,969		$	38,354		$	43,760		$	57,422
Loan Fundings:
Consumer Markets Division	$	9,392		$	8,198		$	6,954		$	7,670		$	6,211		$	7,326		$	9,522
Wholesale Lending Division		5,632			6,235			4,725			4,902			3,844			4,801			6,993
Correspondent Lending Division		13,225			10,908			8,598			9,390			8,240			8,518			12,029
Total Mortgage Banking		28,249			25,341			20,277			21,962			18,295			20,645			28,544
Capital Markets		3,066			2,314			829			1,489			1,013			1,046			1,265
Treasury Bank (1)		1,802			1,310			1,100			1,698			1,312			1,582			2,502
Total Loan Fundings	$	33,117		$	28,965		$	22,206		$	25,149		$	20,620		$	23,273		$	32,311
Loan Fundings in Units:
Consumer Markets Division		74,566			67,213			57,058			61,031			49,154			54,962			68,664
Wholesale Lending Division		34,660			38,255			28,887			29,638			22,685			27,880			39,820
Correspondent Lending Division		81,376			67,709			52,969			57,079			49,694			50,250			67,815
Total Mortgage Banking		190,602			173,177			138,914			147,748			121,533			133,092			176,299
Capital Markets		9,718			9,266			4,629			6,357			4,680			3,491			5,114
Treasury Bank (1)		18,352			14,938			13,257			16,861			14,681			16,760			23,351
Total Loan Fundings in Units		218,672			197,381			156,800			170,966			140,894			153,343			204,764
Loan Fundings:
Purchase (2)	$	12,719		$	12,366		$	9,852		$	12,115		$	9,274		$	9,226		$	13,127
Non-purchase (2)		20,398			16,599			12,354			13,034			11,346			14,047			19,184
Total Loan Fundings	$	33,117		$	28,965		$	22,206		$	25,149		$	20,620		$	23,273		$	32,311
Government Fundings	$	2,093		$	1,774		$	1,370		$	1,343		$	1,161		$	1,117		$	1,530
ARM Fundings	$	10,072		$	10,676		$	8,487		$	9,679		$	9,478		$	10,293		$	13,872
Home Equity Fundings	$	1,680		$	1,752		$	1,620		$	1,805		$	1,564		$	1,637		$	2,088
Subprime Fundings	$	2,158		$	2,424		$	2,029		$	2,257		$	2,009		$	2,124		$	2,759
LOAN SERVICING (3)
Volume	$	606,095		$	621,000		$	631,470		$	644,855		$	657,541		$	669,076		$	682,848
Units		4,834,943			4,923,935			5,001,743			5,080,621			5,162,726			5,234,634			5,313,058
Subservicing Volume (4)	$	11,446		$	11,921		$	13,671		$	14,404		$	15,871		$	15,548		$	15,307
Subservicing Units		128,326			139,983			157,785			159,357			166,923			163,190			166,514
Prepayments in Full	$	17,463		$	14,315		$	11,403		$	11,845		$	9,387		$	13,090		$	18,317
Bulk Servicing Acquisitions	$	581		$	1,845		$	144		$	1,054		$	3,706		$	3,123		$	2,349
Portfolio Delinquency — CHL (5)		3.81	%		3.54	%		3.90	%		3.91	%		3.71	%		3.71	%		3.20	%
Foreclosures Pending — CHL (5)		0.45	%		0.50	%		0.43	%		0.43	%		0.43	%		0.44	%		0.42	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	Apr-04			May-04				Jun-04			Jul-04			Aug-04			Sep-04			YTD
LOAN PRODUCTION
Number of Working Days in the Period		22			20				22			21			22			21			190
Average Daily Loan Applications	$	2,041		$	1,945			$	1,905		$	2,006		$	2,051		$	2,098		$	2,034
Mortgage Loan Pipeline (loans-in-process)	$	54,836		$	49,675			$	47,317		$	48,142		$	50,024		$	50,887
Loan Fundings:
Consumer Markets Division	$	11,115		$	9,815			$	9,804		$	8,841		$	9,288		$	9,164		$	81,086
Wholesale Lending Division		7,727			6,208				5,913			5,376			6,102			5,881			52,845
Correspondent Lending Division		14,362			11,986				11,560			10,405			11,152			10,810			99,062
Total Mortgage Banking		33,204			28,009				27,277			24,622			26,542			25,855			232,993
Capital Markets		494			1,875				2,230			2,396			1,592			2,123			14,034
Treasury Bank (1)		2,147			1,931				2,496			2,686			2,988			3,020			20,664
Total Loan Fundings	$	35,845		$	31,815			$	32,003		$	29,704		$	31,122		$	30,998		$	267,691
Loan Fundings in Units:
Consumer Markets Division		75,880			68,759				69,912			63,813			67,019			64,123			582,286
Wholesale Lending Division		42,114			34,247				33,270			30,710			34,422			32,818			297,966
Correspondent Lending Division		77,570			65,425				65,668			60,992			64,659			60,219			562,292
Total Mortgage Banking		195,564			168,431				168,850			155,515			166,100			157,160			1,442,544
Capital Markets		1,463			6,740				8,486			9,949			6,948			10,288			57,159
Treasury Bank (1)		21,909			21,779				26,627			26,236			28,829			28,736			208,908
Total Loan Fundings in Units		218,936			196,950				203,963			191,700			201,877			196,184			1,708,611
Loan Fundings:
Purchase (2)	$	13,883		$	14,575			$	17,491		$	17,541		$	17,797		$	17,001		$	129,915
Non-purchase (2)		21,962			17,240				14,512			12,163			13,325			13,997			137,776
Total Loan Fundings	$	35,845		$	31,815			$	32,003		$	29,704		$	31,122		$	30,998		$	267,691
Government Fundings	$	1,491		$	1,235			$	1,119		$	1,039		$	961		$	934		$	10,587
ARM Fundings	$	15,739		$	15,745			$	17,259		$	17,021		$	18,278		$	21,026		$	138,711
Home Equity Fundings	$	2,242		$	2,272			$	2,787		$	2,838		$	3,056		$	3,164		$	21,648
Subprime Fundings	$	2,765		$	3,044			$	3,745		$	3,785		$	4,275		$	3,894		$	28,400
LOAN SERVICING (3)
Volume	$	693,768		$	706,943			$	726,227		$	746,905		$	765,342		$	785,992
Units		5,372,526			5,443,555				5,547,050			5,668,620			5,773,837			5,889,950
Subservicing Volume (4)	$	15,028		$	15,289			$	16,027		$	16,843		$	16,312		$	17,861
Subservicing Units		163,842			163,931		��		163,396			172,602			169,665			174,079
Prepayments in Full	$	23,557		$	17,593			$	14,945		$	12,430		$	13,232		$	13,669		$	136,220
Bulk Servicing Acquisitions	$	1,122		$	1,563			$	1,634		$	4,187		$	4,626		$	3,399		$	25,709
Portfolio Delinquency — CHL (5)		3.19	%		3.49	%			3.48	%		3.51	%		3.57	%		3.73	%
Foreclosures Pending — CHL (5)		0.38	%		0.36	%			0.37	%		0.37	%		0.35	%		0.35	%

(more)

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
ROLLING THIRTEEN MONTH STATISTICAL DATA
(Dollars in millions)

	Sep-03			Oct-03			Nov-03			Dec-03			Jan-04			Feb-04			Mar-04
LOAN CLOSING SERVICES (units)
Credit Reports		499,431			518,308			420,843			405,336			533,055			547,704			738,113
Flood Determinations		222,890			217,134			173,044			172,325			188,682			195,380			277,958
Appraisals		51,507			53,783			44,475			47,004			44,146			51,425			69,074
Automated Property Valuation Services		358,983			399,559			314,886			319,220			333,803			356,077			439,015
Other		11,769			11,457			9,741			12,096			14,750			14,218			16,379
Total Units		1,144,580			1,200,241			962,989			955,981			1,114,436			1,164,804			1,540,539
CAPITAL MARKETS
Securities Trading Volume (6)	$	240,154		$	208,429		$	196,586		$	179,390		$	192,618		$	221,082		$	276,738
BANKING
Assets Held by Treasury Bank (in billions)	$	16.4		$	17.1		$	17.7		$	19.4		$	20.3		$	21.8		$	23.7
INSURANCE
Net Premiums Earned:
Carrier	$	51		$	59		$	54		$	51		$	56		$	52		$	50
Reinsurance		10			11			13			13			12			13			12
Total Net Premiums Earned	$	61		$	70		$	67		$	64		$	68		$	65		$	62
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	98		$	100		$	103		$	106		$	109		$	112		$	111
Workforce Head Count:(7)
Loan Originations		19,251			18,968			18,812			18,897			18,989			19,364			20,529
Loan Servicing		6,111			6,087			6,098			6,069			6,017			5,870			5,802
Loan Closing Services		956			955			952			931			941			952			926
Insurance		1,904			1,882			1,856			1,823			1,781			1,768			1,762
Capital Markets		452			470			476			477			484			491			494
Global Operations		1,962			1,965			1,997			1,981			1,899			1,948			1,993
Banking		804			787			810			813			803			823			849
Corporate Overhead & Other		3,309			3,282			3,282			3,307			3,347			3,366			3,389
Total Workforce Head Count		34,749			34,396			34,283			34,298			34,261			34,582			35,744
Period-end Rates
10-Year U.S. Treasury Yield		3.96	%		4.33	%		4.34	%		4.27	%		4.16	%		3.99	%		3.86	%
FNMA 30-Year Fixed Rate MBS Coupon		5.012	%		5.335	%		5.410	%		5.276	%		5.192	%		5.001	%		4.937	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	Apr-04			May-04			Jun-04			Jul-04			Aug-04			Sep-04			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		626,142			574,524			631,763			630,223			677,931			657,661			5,617,116
Flood Determinations		246,580			214,494			239,522			243,241			265,888			239,230			2,110,975
Appraisals		65,975			58,912			59,839			62,732			74,314			78,118			564,535
Automated Property Valuation Services		473,601			456,663			480,364			467,030			480,329			463,760			3,950,642
Other		16,058			13,583			15,332			13,252			13,324			13,678			130,574
Total Units		1,428,356			1,318,176			1,426,820			1,416,478			1,511,786			1,452,447			12,373,842
CAPITAL MARKETS
Securities Trading Volume (6)	$	274,862		$	292,116		$	314,599		$	266,645		$	240,678		$	287,475		$	2,366,813
BANKING
Assets Held by Treasury Bank (in billions)	$	24.9		$	25.6		$	27.2		$	28.6		$	30.9		$	33.8
INSURANCE
Net Premiums Earned:
Carrier	$	50		$	48		$	51		$	54		$	51		$	50		$	462
Reinsurance		13			13			13			13			13			14			116
Total Net Premiums Earned	$	63		$	61		$	64		$	67		$	64		$	64		$	578
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	108		$	111		$	110		$	110		$	109		$	110
Workforce Head Count:(7)
Loan Originations		21,696			22,400			23,035			23,114			23,680			24,334
Loan Servicing		5,828			5,864			5,908			5,910			5,920			5,961
Loan Closing Services		938			993			1,019			1,049			1,072			1,100
Insurance		1,809			1,822			1,826			1,854			1,845			1,881
Capital Markets		513			517			529			540			554			559
Global Operations		1,961			1,965			1,955			1,929			1,942			1,935
Banking		888			956			1,003			1,015			1,083			1,164
Corporate Overhead & Other		3,441			3,529			3,660			3,814			3,889			4,001
Total Workforce Head Count		37,074			38,046			38,935			39,225			39,985			40,935
Period-end Rates
10-Year U.S. Treasury Yield		4.53	%		4.66	%		4.62	%		4.50	%		4.13	%		4.14	%
FNMA 30-Year Fixed Rate MBS Coupon		5.592	%		5.752	%		5.589	%		5.484	%		5.162	%		5.262	%

(1)	Treasury Bank funds loans for investment purposes; these loans are processed for Treasury Bank by the production divisions.
(2)	Purchase fundings include first trust deed and home equity loans used as purchase money debt in the acquisition of a home.
(3)	Non-purchase fundings include first trust deed refinance loans, home equity refinance loans, and stand-alone home equity loans.
(4)	Subservicing volume for other clients.
(5)	Expressed as a percentage of the total number of loans serviced, excluding subserviced loans and portfolios purchased at a discount due to their non-performing status.
(6)	Includes trades with Mortgage Banking Division.
(7)	Workforce Head Count includes full-time employees, contract, and temporary help.

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