Rule 424(b)(3)
                                            File Nos. 333-58125 and 333-58125-01

                                                                          
PRICING SUPPLEMENT NO. 27 DATED OCTOBER 26, 1998
(To Prospectus Dated July 16, 1998, as Supplemented July 21, 1998)

                     COUNTRYWIDE HOME LOANS, INC.
                      MEDIUM-TERM NOTES, SERIES G
              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:             October 26, 1998     Book Entry: |X|
Issue Price:            100%                 Certificated: |_|
Original Issue Date:    November 19, 1998    Principal Amount:    $  25,000,000
Stated Maturity Date:   November 19, 2018    Net Proceeds:        $  24,287,500
Interest Rate:          7.00%                Specified Currency:   U.S. Dollars

Exchange Rate Agent:    N/A

Agent:                  Countrywide Securities Corporation

Minimum Denomination:   $1,000
Interest Payment Dates: Monthly on the 19th of the month, commencing December 
                        19, 1998 
Record Dates:           Monthly on the 4th of the month of the corresponding
                        Interest Payment Date

Redemption:                                 Repayment:

Check box opposite applicable paragraph:    Check box opposite applicable 
                                              paragraph:
| | The Notes cannot be redeemed prior to   |X| The Notes cannot be repaid prior
  maturity.                                   to maturity.
|X| The Notes may be redeemed prior to      |_| The Notes may be repaid prior to
  maturity.                                   maturity.
Initial Redemption Date: November 19, 2001  Optional Repayment Dates:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction, 
  if any:

Additional/Other Terms: The Notes may be redeemed at any time following the
Initial Redemption Date upon 10 business days notice to the Holder.


                            --------------

     The Notes to which this Pricing Supplement relates will be
unsecured and unsubordinated indebtedness of CHL and will rank
equally with CHL's other unsecured and unsubordinated
indebtedness. As of August 31, 1998, the Guarantor did not have any
secured indebtedness outstanding and CHL had $77,323,000
aggregate principal amount of secured indebtedness outstanding.
As of that date, CHL had $7,704,397,000 aggregate principal
amount of unsecured and unsubordinated indebtedness outstanding,
which indebtedness ranked equally with CHL's other unsecured and
unsubordinated indebtedness and will rank equally with the Notes
to which this Pricing Supplement relates.

                                            Rule 424(b)(3)
                                            File Nos. 333-58125 and 333-58125-01

PRICING SUPPLEMENT NO. 28 DATED October 27, 1998
(To Prospectus Dated July 16, 1998, as Supplemented July 21, 1998)

                     COUNTRYWIDE HOME LOANS, INC.
                      MEDIUM-TERM NOTES, SERIES G
              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.
                          FLOATING RATE NOTES
                         -------------------

Trade Date:    October 27, 1998           Book Entry:    |X|
Issue Price:   100%                       Certificated:  |_|
Original Issue Date:   October 29, 1998   Principal Amount:    $ 33,000,000
Stated Maturity Date:  October 29, 1999   Net Proceeds:        $ 32,967,000
                                          Specified Currency:  U.S. Dollars

Base    |_| Commercial Paper Rate  |X| LIBOR                 |_| Certificate of
Rate(s):                               Telerate Page 3750          Deposit Rate
        |_| Treasury Rate          |_| Federal Funds Rate    |_| Prime Rate
        |_| CMT Rate               |_| Eleventh District     |_| Other
                                         Cost of Funds Rate

Exchange Rate Agent:    N/A

Minimum Denomination:  $100,000               Maximum Interest Rate:        N/A
Initial Interest Rate: 5.47203%               Minimum Interest Rate:        N/A
Interest Determination Dates: Two Business    Interest Factor Convention:   N/A
                              Days prior to   Index Maturity:      Three months
                              each Interest   Spread (plus or 
                              Payment Date      minus):  Plus 25 basis points
Interest Reset Dates:  Same as Interest       Spread Multiplier:            N/A
                       Payment Dates          Fixed Rate Commencement
Interest Payment Dates: January 29, April       Date:                       N/A
                        29, July 29 and       Fixed Interest Rate:          N/A
                        October 29, 1999 
Agent:   Salomon Smith Barney Inc.
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   |X| The Notes cannot be repaid
       maturity.                                   prior to maturity.
 |_| The Notes may be redeemed prior to      |_| The Notes may be repaid prior 
       maturity.                                   to maturity.
 Initial Redemption Date:                    Optional Repayment Dates:
 Initial Redemption Percentage:
 Annual Redemption Percentage Reduction, if any:

Additional/Other Terms:       N/A

                         -------------------

     The  Notes to  which  this  Pricing  Supplement  relates  will be
unsecured and unsubordinated indebtedness of CHL and will rank equally
with CHL's other  unsecured  and  unsubordinated  indebtedness.  As of
August 31, 1998,  the Guarantor did not have any secured  indebtedness
outstanding  and CHL had  $77,323,000  aggregate  principal  amount of
secured   indebtedness   outstanding.   As  of  that  date,   CHL  had
$7,704,397,000   aggregate   principal   amount   of   unsecured   and
unsubordinated  indebtedness  outstanding,  which indebtedness  ranked
equally with CHL's other unsecured and unsubordinated indebtedness and
will rank  equally  with the Notes to which  this  Pricing  Supplement
relates.