Rule 424(b)(3)
File No. 33-50661
PRICING SUPPLEMENT NO. 3 DATED FEBRUARY 15, 1994
(To Prospectus Dated October 29, 1993 as Supplemented October 29, 
1993)
COUNTRYWIDE FUNDING CORPORATION
Medium-Term Notes, Series C
Due from 9 months to 30 years from Date of Issue
Payment of the Principal, Premium, if any,
and Interest on the Notes is Unconditionally
Guaranteed by
COUNTRYWIDE CREDIT INDUSTRIES, INC.
Fixed-Rate Notes
	

Trade Date:  February 15, 1994
Issue Price: 100%
Original Issue Date: February 23, 1994
Stated Maturity Date: March 1, 2004
Interest Payment Dates: Every 1/15, 7/15


Book-Entry:	
                                       	 Interest
	                                          Rate
Range of Maturities	                    Per Annum
From 9 months to less than 1 year		         %
From 1 year to less than 18 months		        %
From 18 months to less than 2 years		       %
From 2 years to less than 3 years		         %
From 3 years to less than 4 years		         %
From 4 years to less than 5 years		         %
From 5 years to less than 6 years		         %
From 6 years to less than 7 years		         %
From 7 years to less than 10 years		        %
From 10 years to less than 15 years	    6.48%
From 15 years to less than 20 years		       %
From 20 years up to and including 30 years		%
Book-Entry:	[x]
Certificated:	[ ]
Total Amount of OID:  N/A
Initial Accrual Period OID:  N/A
Yield to Maturity:  N/A
Minimum Denomination:  $100,000.00
Specified Currency:  U.S. Dollars
Exchange Rate Agent:  N/A
Redemption:
Check Box opposite applicable paragraph.
[x]	The Notes cannot be redeemed prior to maturity.
[ ]	The Notes may be redeemed prior to maturity.
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction:
Special Redemption Provisions:
Additional Terms:	None