INDEPENDENT AUDITORS' CONSENT



The Administrative Committee
Downey Savings and Loan Association, F.A.
   Employees' Retirement and Savings Plan:


We consent to  incorporation  by reference in the  Registration  Statement  (No.
333-30483)  on Form S-8 of Downey  Financial  Corp. of our report dated June 11,
2002 relating to the statements of net assets available for plan benefits of the
Downey Savings and Loan Association, F.A. Employees' Retirement and Savings Plan
as of December  31,  2001 and 2000,  the  related  statements  of changes in net
assets available for plan benefits for the years then ended and the supplemental
schedule,  which report  appears in the December 31, 2001 annual  report on Form
11-K of Downey  Savings and Loan  Association,  F.A.  Employees'  Retirement and
Savings Plan.




                                  /S/ KPMG LLP



Los Angeles, California
June 25, 2002