Rule 424(b)(3)
File No. 33-50661

PRICING SUPPLEMENT NO. 23 DATED JANUARY 19, 1995
(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.
Floating-Rate Notes
- - - - - - - - - -

Principal Amount:              $20,000,000
Proceeds to Issuer:            $19,930,000
Trade Date:                    January 19, 1995
Issue Price:                   Initially at par, variable price re-offer
Original Issue Date:           January 26, 1995
Total Amount of OID:           N/A
Initial Accrual Period OID:    N/A
Yield to Maturity:             N/A
Stated Maturity Date:          January 26, 1998
Book-Entry:   /X/
Certificated: /  /

Specified Currency:            U.S. Dollars

Base Rate: /  / Commercial paper Rate	/x/ LIBOR
           /  / Certificate of Deposit Rate
           /  / Treasury Rate         /  / Federal Funds Rate	
           /  / Prime Rate            /  / Other

Exchange Rate Agent:           N/A
Minimum Denomination:          $100,000
Initial Interest Rate:         To be determined 2 Business 
                               Days prior to Initial Issuance
Interest Determination Dates:  Two Business Days prior to the 
                               Interest Reset Date.
Interest Reset Dates:          Same as Interest Payment Dates
Interest Payment Dates:        Every 1/26, 4/26, 7/26 and 
                               10/26 until maturity.
Index Maturity:                3 months
Maximum Interest Rate:         N/A
Minimum Interest Rate:         N/A
Spread (plus or minus):        Plus 35 bps (bps = basis points)
Spread Multiplier:             N/A
Calculation Agent:             The Bank of New York
Calculation Date:              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:       N/A
 Initial Redemption Percentage: N/A
 Annual Redemption Percentage   N/A
     Reduction:
 Special Redemption Provisions: N/A


	The Notes covered by this Pricing Supplement No. 23 
are being sold to Chase Securities, Inc. for resale to one or more 
investors or other purchasers.  The discount to Chase Securities, 
Inc. is .350% or $70,000 in the aggregate.