Rule 424(b)(3)
                                          File Nos. 333-103623 and 333-103623-03



PRICING SUPPLEMENT NO. 21 DATED April 6, 2004

     (To Prospectus Dated March 20, 2003 and Prospectus  Supplements Dated April
8, 2003 and March 17, 2004)

                                                    COUNTRYWIDE HOME LOANS, INC.
                                                     Medium-Term Notes, Series L
                                      Due Nine Months or More From Date of Issue
                                          Payment of Principal, Premium, if any,
                            and Interest Fully and Unconditionally Guaranteed by
                                               COUNTRYWIDE FINANCIAL CORPORATION
                                                          Floating Rate Notes



Trade Date:                April 6, 2004                      Book Entry:    |X|
Issue Price:               100%                               Certificated:  |_|
Original Issue Date:       April 12, 2004     Principal Amount:     $551,000,000
Stated Maturity Date:      April 12, 2005     Net Proceeds:         $550,724,500
                                              Specified Currency:   U. S. Dollar


     Base Rate(s): |_| CD Rate |_| Eleventh District |_| Prime Rate
                                   Cost of Funds Rate

     |_| Commercial Paper Rate |_| Federal Funds Rate |_| Treasury Rate
     |_| CMT Rate |X| LIBOR |_| Other
                          [Telerate Page 7051]             [Telerate Page[   ]]
                          [Telerate Page 7052]             [Reuters Page [  ]]
                            |_|  Weekly Average            [Currency:   [   ]]

                               |_| Monthly Average

Exchange Rate Agent:       [N/A]


     Minimum Denomination: $1,000 Maximum Interest Rate: N/A
     Initial Interest Rate: 1.22% Minimum Interest Rate: N/A
Interest Factor Convention:            N/A
Interest Determination Dates:  Two London Business Days
                             prior to each Interest
                               Payment Date
Index Maturity:            3 months
Spread (plus or minus):    plus 8 basis points
Spread Multiplier:                     N/A
Interest Reset Dates:      Same as Interest Payment Dates
Interest Payment Dates:    Quarterly on the 12th of
                            January, April, July, and
                          October, commencing July 12,
                           2004

                                      Fixed Rate Commencement Date:          N/A
                                      Fixed Interest Rate:                   N/A


     Agents: Countrywide Securities Corporation, Barclays Capital Inc., Wachovia
Securities Inc., Deutsche Bank Securities
Calculation Agent:        The Bank of New York


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:

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


Additional/Other Terms:             N/A








     The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of Countrywide Home Loans and will
rank equally with other unsecured and unsubordinated indebtedness of Countrywide
Home Loans. As of December 31, 2003, Countrywide Financial Corporation did not
have any secured indebtedness outstanding, and Countrywide Home Loans had
$1,779,374,485 of secured indebtedness outstanding, including $1,153,262,500 of
intercompany borrowings. As of that date, Countrywide Home Loans had
$22,317,600,565 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.

     You should rely only on the information contained or incorporated by
reference in this Pricing Supplement and the accompanying Prospectus Supplements
and Prospectus. Countrywide Home Loans, Inc. and Countrywide Financial
Corporation have not, and the Agent(s) have not, authorized any other person to
provide you with different information. If anyone provides you with different or
inconsistent information, you should not rely on it. Countrywide Home Loans,
Inc. and Countrywide Financial Corporation are not, and the Agent(s) are not,
making an offer to sell these securities in any jurisdiction where the offer or
sale is not permitted.

         You should assume that the information appearing in this Pricing
Supplement and the accompanying Prospectus Supplements and Prospectus is
accurate as of the date on the front cover of this Pricing Supplement only. The
business, financial condition, results of operations and prospects of
Countrywide Home Loans, Inc. and Countrywide Financial Corporation may have
changed since that date.