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                                                                  Rule 424(b)(3)
                                            File Nos. 333-74042 and 333-74042-03

PRICING SUPPLEMENT NO. 4 DATED January 23, 2002
(To Prospectus Dated December 4, 2001, as Supplemented December 21, 2001)

                          COUNTRYWIDE HOME LOANS, INC.
                           Medium-Term Notes, Series K
                   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:                January 23, 2002                   Book Entry:    |x|
Issue Price:               100%                               Certificated:  |_|
     Original Issue Date: February 22, 2002 Principal Amount: $5,000,000
     Stated Maturity Date: February 22, 2010 Net Proceeds: $5,000,000
     Interest Rate: 6.00% Specified Currency: U.S. Dollars


Exchange Rate Agent:       N/A

Agent:                     Countrywide Securities Corporation

Minimum Denomination:      $1,000
     Interest  Payment Dates:  Monthly on the 22th of each month,  commencing on
March 22, 2002
Record Dates: 10 days prior to the Interest Payment Date

Redemption:                                               Repayment:

     Check box opposite  applicable  paragraph:  Check box  opposite  applicable
paragraph:
     |_| The Notes cannot be redeemed prior to maturity. |_| The Notes cannot be
repaid prior to maturity.
     |X| The  Notes  may be  redeemed  prior to  maturity.  |_| The Notes may be
repaid prior to maturity.
     Initial Redemption Date: February 22, 2005 Optional Repayment Dates:
     Initial Redemption Percentage:  100%
     Annual Redemption Percentage Reduction, if any:

Estate Option:  Check box if the Estate Option is applicable  |X|

Additional/Other           Terms: The notes may be redeemed at any time, in
                           whole or in part, on or after the Initial Redemption
                           Date upon 10 business days' notice to Holder.



         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 November 30, 2001, Countrywide Credit Industries did not
have any secured indebtedness outstanding, and Countrywide Home Loans had
$36,000,000 aggregate principal amount of secured indebtedness outstanding, all
of which was short-term indebtedness. As of that date, Countrywide Home Loans
had $14,810,206,370 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.