ule 424(b)(3)
                                            File Nos. 333-82583 and 333-82583-01
PRICING SUPPLEMENT NO. 16 DATED: September 27, 2000
(To Prospectus Dated June 8, 2000, as Supplemented June 15, 2000)

                          COUNTRYWIDE HOME LOANS, INC.
                           Medium-Term Notes, Series I
                   due Nine Months or More from Date of Issue
                     Payment of Principal, Premium, if any,
              and Interest Fully and Unconditionally Guaranteed by
                       COUNTRYWIDE CREDIT INDUSTRIES, INC.
                                Fixed Rate Notes


Trade Date:                September 27, 2000                 Book Entry:    |X|
Issue Price:               Variable                           Certificated:  |_|
Original Issue Date:       October 2, 2000   Principal Amount:   $100,000,000.00
Stated Maturity Date:      October 2, 2001   Net Proceeds:      $  99,970,000.00
Interest Rate:             6.90%       Specified Currency:          U.S. Dollars


Exchange Rate Agent:       N/A

Agent:                     Banc of America Securities LLC.

Minimum Denomination:      $1,000
Interest Payment Dates:    October 2, 2001
     Record Dates:  Interest payable on the Maturity Date will be payable to the
person to whom principal is payable.

Redemption:                                               Repayment:

     Check box opposite  applicable  paragraph:  Check box  opposite  applicable
paragraph:
     |X| The Notes cannot be redeemed prior to maturity. |X| The Notes cannot be
repaid prior to maturity.
     |_| The  Notes  may be  redeemed  prior to  maturity.  |_| The Notes may be
repaid prior to maturity.
     Initial Redemption Date:                          Optional Repayment Dates:
     Initial Redemption Percentage:
     Annual Redemption Percentage Reduction, if any:

Additional/Other Terms:

Interest will be computed on the basis of the actual number of days in a 360-day
year.





         The Notes to which this  Pricing  Supplement  relates  will  constitute
unsecured and  unsubordinated  indebtedness  of Countrywide  Home Loans and will
rank equally with  Countrywide  Home Loan's other  unsecured and  unsubordinated
indebtedness. As of May 31, 2000, Countrywide Credit Industries did not have any
secured  indebtedness  outstanding,  and Countrywide  Home Loans had $20,273,469
aggregate principal amount of secured indebtedness outstanding, all of which was
short-term   indebtedness.   As  of  that  date,   Countrywide  Home  Loans  had
$9,363,148,000  aggregate  principal  amount  of  unsecured  and  unsubordinated
indebtedness  outstanding,  which  indebtedness  ranked  equally  with the other
unsecured and  unsubordinated  indebtedness  of Countrywide  Home Loans and will
rank equally with the Notes to which this Pricing Supplement relates.