UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: October 10, 2003
Date of Earliest Event Reported: Not Applicable

COUNTRYWIDE FINANCIAL CORPORATION
(Exact name of registrant as specified in its chapter)

Delaware
(State or other jurisdiction
of incorporation) 1-8422
(Commission
file number) 13-2641992
(IRS Employer
Identification No.)

4500 PARK GRANADA, CALABASAS CA
(Address of principal executive offices) 91302
(Zip Code)

Registrant's telephone number, including area code: (818) 225-3000

ITEM 9.         Regulation FD Disclosure

         On October 10, 2003, Countrywide Financial Corporation issued a press release announcing revised earnings guidance for 2003.

         A copy of the press release is attached as an Exhibit. (Exhibit 99.11)

SIGNATURE

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

Dated:   October 10, 2003

COUNTRYWIDE FINANCIAL CORPORATION

By:        /S/ Thomas Keith McLaughlin                    
          Thomas Keith McLaughlin
          Senior Managing Director
          and Chief Financial Officer

EXHIBIT INDEX

Exhibit No. Description

99.11 Press Release issued by Countrywide Financial Corporation announcing revised earnings guidance for 2003.

Exhibit 99.11

NEWS COUNTRYWIDE FINANCIAL

For Immediate Release CONTACT:      David Bigelow
     Lisa Riordan
     (818) 225-3550

COUNTRYWIDE ANNOUNCES REVISED EARNINGS GUIDANCE FOR 2003

-- COMPANY EXPECTS EARNINGS PER DILUTED SHARE TO EXCEED $15 FOR THE YEAR --

CALABASAS, CA (October 10, 2003) – Countrywide Financial Corporation (NYSE: CFC), a diversified financial services provider, today revised its earnings guidance for calendar year 2003. The Company indicated that it now expects earnings for the year to exceed $15 per diluted share. This is an increase from prior guidance of $13 to $15 per diluted share, which Countrywide had provided earlier this year.

On October 23, 2003, Countrywide is scheduled to release its earnings for its third quarter, which closed on September 30. In this release, and the teleconference that follows, management will discuss third quarter results and provide more detail on its 2003 guidance. In addition, the Company expects to provide earnings guidance for 2004 at that time.

Founded in 1969, Countrywide Financial Corporation is a member of the S&P 500, Forbes 500 and Fortune 500. Through its family of companies, Countrywide provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services primarily prime-quality loans. Also included in Countrywide’s mortgage banking segment is the LandSafe group of companies that provide loan closing services. Diversified financial services encompass capital markets, banking, insurance, and global, largely through the activities of Countrywide Capital Markets, a mortgage-related investment banker; Countrywide Bank, a division of Treasury Bank, NA, a banking entity offering customers CDs, money market accounts, and home loan products; Balboa Life and Casualty Group, whose companies are national providers of property, liability, and life insurance; Balboa Reinsurance, a captive mortgage reinsurance company; Countrywide Insurance Services, Inc., a national insurance agency offering home-related insurance products; and Global Home Loans, a European mortgage banking joint venture in which Countrywide holds a majority interest. For more information about the Company, visit Countrywide’s website at www.countrywide.com.

This Press Release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, and assumptions with respect to future operations, as well as business plans and strategies that are subject to change. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: competitive and general economic conditions in each of our business segments; general economic conditions in the United States and abroad; loss of investment grade rating that may result in an increase in the cost of debt or loss of access to corporate debt markets; reduction in government support of homeownership; the level and volatility of interest rates; the legal, regulatory and legislative environments in the markets in which the Company operates; and other risks detailed in documents filed by the Company with the Securities and Exchange Commission from time to time. Words like “believe,” “expect,” “anticipate,” “promise,” “plan,” and other expressions or words of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” are generally intended to identify forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements.