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

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

	Nov-03			Dec-03			Jan-04			Feb-04			Mar-04			Apr-04			May-04
LOAN PRODUCTION
Number of Working Days in the Period		19			22			20			19			23			22			20
Average Daily Loan Applications	$	1,479		$	1,339		$	1,776		$	1,968		$	2,455		$	2,041		$	1,945
Mortgage Loan Pipeline (loans-in-process)	$	38,841		$	32,969		$	38,354		$	43,760		$	57,422		$	54,836		$	49,675
Loan Fundings:
Consumer Markets Division	$	6,954		$	7,670		$	6,211		$	7,326		$	9,522		$	11,115		$	9,815
Wholesale Lending Division		4,725			4,902			3,844			4,801			6,993			7,727			6,208
Correspondent Lending Division		8,598			9,390			8,240			8,518			12,029			14,362			11,986
Total Mortgage Banking		20,277			21,962			18,295			20,645			28,544			33,204			28,009
Capital Markets		829			1,489			1,013			1,046			1,265			494			1,875
Treasury Bank (1)		1,100			1,698			1,312			1,582			2,502			2,147			1,931
Total Loan Fundings	$	22,206		$	25,149		$	20,620		$	23,273		$	32,311		$	35,845		$	31,815
Loan Fundings in Units:
Consumer Markets Division		57,058			61,031			49,154			54,962			68,664			75,880			68,759
Wholesale Lending Division		28,887			29,638			22,685			27,880			39,820			42,114			34,247
Correspondent Lending Division		52,969			57,079			49,694			50,250			67,815			77,570			65,425
Total Mortgage Banking		138,914			147,748			121,533			133,092			176,299			195,564			168,431
Capital Markets		4,629			6,357			4,680			3,491			5,114			1,463			6,740
Treasury Bank (1)		13,257			16,861			14,681			16,760			23,351			21,909			21,779
Total Loan Fundings in Units		156,800			170,966			140,894			153,343			204,764			218,936			196,950
Loan Fundings:
Purchase (2)	$	9,852		$	12,115		$	9,274		$	9,226		$	13,127		$	13,883		$	14,575
Non-purchase (2)		12,354			13,034			11,346			14,047			19,184			21,962			17,240
Total Loan Fundings	$	22,206		$	25,149		$	20,620		$	23,273		$	32,311		$	35,845		$	31,815
Government Fundings	$	1,370		$	1,343		$	1,161		$	1,117		$	1,530		$	1,491		$	1,235
ARM Fundings	$	8,487		$	9,679		$	9,478		$	10,293		$	13,872		$	15,739		$	15,745
Home Equity Fundings	$	1,620		$	1,805		$	1,564		$	1,637		$	2,088		$	2,242		$	2,272
Subprime Fundings	$	2,029		$	2,257		$	2,009		$	2,124		$	2,759		$	2,765		$	3,044
LOAN SERVICING(3)
Volume	$	631,470		$	644,855		$	657,541		$	669,076		$	682,848		$	693,768		$	706,943
Units		5,001,743			5,080,621			5,162,726			5,234,634			5,313,058			5,372,526			5,443,555
Subservicing Volume (4)	$	13,671		$	14,404		$	15,871		$	15,548		$	15,307		$	15,028		$	15,289
Subservicing Units		157,785			159,357			166,923			163,190			166,514			163,842			163,931
Prepayments in Full	$	11,403		$	11,845		$	9,387		$	13,090		$	18,317		$	23,557		$	17,593
Bulk Servicing Acquisitions	$	144		$	1,054		$	3,706		$	3,123		$	2,349		$	1,122		$	1,563
Portfolio Delinquency - CHL (5)		3.90	%		3.91	%		3.71	%		3.71	%		3.20	%		3.19	%		3.49	%
Foreclosures Pending - CHL (5)		0.43	%		0.43	%		0.43	%		0.44	%		0.42	%		0.38	%		0.36	%

[Additional columns below]

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

	Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			YTD
LOAN PRODUCTION
Number of Working Days in the Period		22			21			22			21			21			21			232
Average Daily Loan Applications	$	1,905		$	2,006		$	2,051		$	2,098		$	1,991		$	2,010		$	2,028
Mortgage Loan Pipeline (loans-in-process)	$	47,317		$	48,142		$	50,024		$	50,887		$	51,990		$	50,638
Loan Fundings:
Consumer Markets Division	$	9,804		$	8,841		$	9,288		$	9,164		$	9,666		$	10,183		$	100,935
Wholesale Lending Division		5,913			5,376			6,102			5,881			6,236			6,775			65,856
Correspondent Lending Division		11,560			10,405			11,152			10,810			9,846			11,594			120,502
Total Mortgage Banking		27,277			24,622			26,542			25,855			25,748			28,552			287,293
Capital Markets		2,230			2,396			1,592			2,123			729			1,082			15,845
Treasury Bank (1)		2,496			2,686			2,988			3,020			2,740			1,734			25,138
Total Loan Fundings	$	32,003		$	29,704		$	31,122		$	30,998		$	29,217		$	31,368		$	328,276
Loan Fundings in Units:
Consumer Markets Division		69,912			63,813			67,019			64,123			67,098			75,600			724,984
Wholesale Lending Division		33,270			30,710			34,422			32,818			33,390			37,491			368,847
Correspondent Lending Division		65,668			60,992			64,659			60,219			55,413			68,947			686,652
Total Mortgage Banking		168,850			155,515			166,100			157,160			155,901			182,038			1,780,483
Capital Markets		8,486			9,949			6,948			10,288			2,868			4,523			64,550
Treasury Bank (1)		26,627			26,236			28,829			28,736			28,081			8,862			245,851
Total Loan Fundings in Units		203,963			191,700			201,877			196,184			186,850			195,423			2,090,884
Loan Fundings:
Purchase (2)	$	17,491		$	17,541		$	17,797		$	17,001		$	14,884		$	15,154		$	159,953
Non-purchase (2)		14,512			12,163			13,325			13,997			14,333			16,214			168,323
Total Loan Fundings	$	32,003		$	29,704		$	31,122		$	30,998		$	29,217		$	31,368		$	328,276
Government Fundings	$	1,119		$	1,039		$	961		$	934		$	832		$	953		$	12,372
ARM Fundings	$	17,259		$	17,021		$	18,278		$	21,026		$	16,341		$	16,422		$	171,474
Home Equity Fundings	$	2,787		$	2,838		$	3,056		$	3,164		$	3,036		$	3,061		$	27,745
Subprime Fundings	$	3,745		$	3,785		$	4,275		$	3,894		$	3,276		$	3,459		$	35,135
LOAN SERVICING(3)
Volume	$	726,227		$	746,905		$	765,342		$	785,992		$	805,922		$	821,287
Units		5,547,050			5,668,620			5,773,837			5,889,950			6,018,496			6,113,193
Subservicing Volume (4)	$	16,027		$	16,843		$	16,312		$	17,861		$	16,869		$	17,421
Subservicing Units		163,396			172,602			169,665			174,079			171,273			174,875
Prepayments in Full	$	14,945		$	12,430		$	13,232		$	13,669		$	14,336		$	16,013		$	166,569
Bulk Servicing Acquisitions	$	1,634		$	4,187		$	4,626		$	3,399		$	8,241		$	1,870		$	35,820
Portfolio Delinquency - CHL (5)		3.48	%		3.51	%		3.57	%		3.73	%		3.92	%		3.85	%
Foreclosures Pending - CHL (5)		0.37	%		0.37	%		0.35	%		0.35	%		0.37	%		0.41	%

(more)

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

	Nov-03			Dec-03			Jan-04			Feb-04			Mar-04			Apr-04			May-04
LOAN CLOSING SERVICES (units)
Credit Reports		420,843			405,336			533,055			547,704			738,113			626,142			574,524
Flood Determinations		173,044			172,325			188,682			195,380			277,958			246,580			214,494
Appraisals		44,475			47,004			44,146			51,425			69,074			65,975			58,912
Automated Property Valuation Services		314,886			319,220			333,803			356,077			439,015			473,601			456,663
Other		9,741			12,096			14,750			14,218			16,379			16,058			13,583
Total Units		962,989			955,981			1,114,436			1,164,804			1,540,539			1,428,356			1,318,176
CAPITAL MARKETS
Securities Trading Volume (6)	$	196,586		$	179,390		$	192,618		$	221,082		$	276,738		$	274,862		$	292,116
BANKING
Assets Held by Treasury Bank (in billions)	$	17.7		$	19.4		$	20.3		$	21.8		$	23.7		$	24.9		$	25.6
INSURANCE
Net Premiums Earned:
Carrier	$	54		$	51		$	56		$	52		$	50		$	50		$	48
Reinsurance		13			13			12			13			12			13			13
Total Net Premiums Earned	$	67		$	64		$	68		$	65		$	62		$	63		$	61
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	103		$	106		$	109		$	112		$	111		$	108		$	111
Workforce Head Count:(7)
Loan Originations		18,933			19,018			19,020			19,395			20,560			21,696			22,400
Loan Servicing		6,098			6,069	��		6,017			5,870			5,802			5,828			5,864
Loan Closing Services		841			820			914			925			899			938			993
Insurance		1,856			1,823			1,781			1,768			1,762			1,809			1,822
Capital Markets		476			477			484			491			494			513			517
Global Operations		1,997			1,981			1,899			1,948			1,993			1,961			1,965
Banking		800			803			799			819			845			888			956
Corporate Overhead & Other		3,282			3,307			3,347			3,366			3,389			3,441			3,529
Total Workforce Head Count		34,283			34,298			34,261			34,582			35,744			37,074			38,046
Period-end Rates
10-Year U.S. Treasury Yield		4.34	%		4.27	%		4.16	%		3.99	%		3.86	%		4.53	%		4.66	%
FNMA 30-Year Fixed Rate MBS Coupon		5.41	%		5.28	%		5.19	%		5.00	%		4.94	%		5.59	%		5.75	%

[Additional columns below]

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

	Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		631,763			630,223			677,931			657,661			660,351			634,685			6,912,152
Flood Determinations		239,522			243,241			265,888			239,230			237,386			235,665			2,584,026
Appraisals		59,839			62,732			74,314			78,118			77,388			80,253			722,176
Automated Property Valuation Services		480,364			467,030			480,329			463,760			477,592			508,451			4,936,685
Other		15,332			13,252			13,324			13,678			14,430			15,895			160,899
Total Units		1,426,820			1,416,478			1,511,786			1,452,447			1,467,147			1,474,949			15,315,938
CAPITAL MARKETS
Securities Trading Volume (6)	$	314,599		$	266,645		$	240,678		$	287,475		$	239,128		$	260,065		$	2,866,006
BANKING
Assets Held by Treasury Bank (in billions)	$	27.2		$	28.6		$	30.9		$	33.9		$	36.4		$	38.8
INSURANCE
Net Premiums Earned:
Carrier	$	51		$	54		$	51		$	50		$	54		$	54		$	570
Reinsurance		13			13			13			14			14			13			143
	��
Total Net Premiums Earned	$	64		$	67		$	64		$	64		$	68		$	67		$	713
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	110		$	110		$	109		$	110		$	112		$	117
Workforce Head Count:(7)
Loan Originations		23,035			23,114			23,680			24,334			24,899			25,203
Loan Servicing		5,908			5,910			5,920			5,961			6,079			6,202
Loan Closing Services		1,019			1,049			1,072			1,100			1,113			1,123
Insurance		1,826			1,854			1,845			1,881			1,880			1,880
Capital Markets		529			540			554			559			566			564
Global Operations		1,955			1,929			1,942			1,935			1,949			1,877
Banking		1,003			1,015			1,083			1,164			1,184			1,213
Corporate Overhead & Other		3,660			3,814			3,889			4,001			4,033			4,102
Total Workforce Head Count		38,935			39,225			39,985			40,935			41,703			42,164
Period-end Rates
10-Year U.S. Treasury Yield		4.62	%		4.50	%		4.13	%		4.14	%		4.05	%		4.36	%
FNMA 30-Year Fixed Rate MBS Coupon		5.59	%		5.48	%		5.16	%		5.23	%		5.11	%		5.27	%

(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. Non-purchase fundings include first trust deed refinance loans, home equity refinance loans, and stand-alone home equity loans.

(3) Includes loans held for sale, loans held for investment, and loans serviced under subservicing agreements for others.

(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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