-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Qp19aariK33u8gSa72lJFeRHbPXkEm7UNRmO+r6C4X6mZ3bJAP2Q/Rx5uH5ndaZy mNXKNT7kqsmANg3J38WS4g== 0000950129-04-006968.txt : 20040910 0000950129-04-006968.hdr.sgml : 20040910 20040910153952 ACCESSION NUMBER: 0000950129-04-006968 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040910 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040910 DATE AS OF CHANGE: 20040910 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COUNTRYWIDE FINANCIAL CORP CENTRAL INDEX KEY: 0000025191 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] IRS NUMBER: 132641992 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12331-01 FILM NUMBER: 041025519 BUSINESS ADDRESS: STREET 1: 4500 PARK GRANADA BLVD CITY: CALABASAS STATE: CA ZIP: 91302 BUSINESS PHONE: 8182253000 MAIL ADDRESS: STREET 1: 4500 PARK GRANADA BLVD CITY: CALABASAS STATE: CA ZIP: 91302 FORMER COMPANY: FORMER CONFORMED NAME: COUNTRYWIDE CREDIT INDUSTRIES INC DATE OF NAME CHANGE: 19920703 8-K 1 v01781e8vk.htm FORM 8-K Countrywide Financial Corporation - 9/10/2004
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (date of earliest event reported): September 10, 2004

COUNTRYWIDE FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)
         
Delaware   1-8422   13-2641992
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation   File Number)   Identification No.)
         
4500 Park Granada, Calabasas, CA
   91302
(Address of principal executive offices)
   (Zip Code)

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

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

TABLE OF CONTENTS

Item 2.02. Results of Operations and Financial Condition
Item 9.01. Financial Statements and Exhibits
SIGNATURE
EXHIBIT INDEX
Exhibit 99.19
Exhibit 99.20

Table of Contents

Item 2.02. Results of Operations and Financial Condition

     On September 10, 2004, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended August 31, 2004, a copy of which is attached as Exhibit 99.19. On September 10, 2004, the Company also made available an updated version of its thirteen-month statistical data report on its website, www.countrywide.com, a copy of which is attached as Exhibit 99.20.

     The information furnished pursuant to this Current Report on Form 8-K (including the exhibits hereto) shall not be considered “filed” under the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly states in such filing that such information is to be considered “filed” or incorporated by reference therein.

Item 9.01. Financial Statements and Exhibits

  (c)   Exhibits

99.19   Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended August 31, 2004.
     
99.20   Thirteen-month statistical data report made available by the Company on its website.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  COUNTRYWIDE FINANCIAL CORPORATION
 		  
Dated: September 10, 2004  /s/ Stanford L. Kurland    
  Stanford L. Kurland   
  President and Chief Operating Officer   
 

 

Table of Contents

EXHIBIT INDEX

     
Exhibit No.
   Description
99.19
  Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended August 31, 2004.
99.20
  Thirteen-month statistical data report made available by the Company on its website.

 

EX-99.19 2 v01781exv99w19.txt EXHIBIT 99.19 Exhibit 99.19 NEWS (COUNTRYWIDE FINANCIAL LOGO) INVESTOR CONTACT: (818) 225-3550 DAVID BIGELOW OR LISA RIORDAN MEDIA CONTACT: (800) 796-8448 FOR IMMEDIATE RELEASE COUNTRYWIDE REPORTS AUGUST 2004 OPERATIONAL DATA - SERVICING PORTFOLIO REACHES $765 BILLION - - PIPELINE OF APPLICATIONS-IN-PROCESS INCREASES TO $50 BILLION - - AUGUST FUNDINGS RISE TO $31 BILLION - CALABASAS, CA (September 10, 2004) - Countrywide Financial Corporation (NYSE: CFC), a diversified financial services provider, released operational data for the month ended August 31, 2004. Highlights included the following: - Loan fundings were $31 billion for the month, an increase of 5 percent from the prior month. This represents a 24 percent decline from August 2003 as a result of a substantially lower level of industry-wide refinance activity. Year-to-date funding volume now totals $237 billion. - Monthly purchase activity rose for the sixth consecutive month to $18 billion, an increase of 1 percent over last month and 42 percent more than August 2003. Year-to-date purchase volume now stands at $113 billion, approaching 2003's full year level of $130 billion. - Demand for adjustable-rate, home equity and subprime loans remained robust. - Adjustable-rate fundings reached a record $18 billion, 83 percent greater than August 2003, and accounted for 59 percent of total monthly loan volume. Adjustable-rate volume grew by 7 percent over July 2004, driving year-to-date volume to $118 billion. - Home equity fundings reached a new monthly record of $3.1 billion, 8 percent more than the previous month and 80 percent higher than August 2003. Year-to-date home equity production surpassed $18 billion, and exceeded the volume achieved in calendar 2003. - Subprime volume grew for the month to $4.3 billion, advancing 13 percent from last month and increasing 158 percent over August 2003. Year-to-date subprime volume totaled $25 billion, exceeding total subprime volume produced in calendar 2003. (more) 2-2-2 - The 10-year U.S. Treasury yield declined during the month of August 2004, as compared to a rising trend in August 2003. As a result, average daily application activity during August 2004 rose by 2 percent over July 2004 and was 13 percent more than August 2003. And while the pipeline of applications-in-process at August 31, 2004 was down 7 percent from August 31, 2003, it was 4 percent greater than July 2004. - The servicing portfolio reached $765 billion for the month, surpassing the August 2003 level by $173 billion, or 29 percent, and has increased by $120 billion since the beginning of 2004. - August securities trading volume of $241 billion decreased by 6 percent from the level achieved in August 2003 primarily due to lower mortgage origination activity industry-wide. Year-to-date trading volume totaled $2.1 trillion, 2 percent greater than the $2.0 trillion achieved for the same 8-month period of 2003. - Total assets at Countrywide Bank rose to $31 billion, 8 percent higher than July 2004 and double the level of August 2003. - Net earned premiums at Balboa were $64 million, down 3 percent from August 2003 as a result of lower activity in Balboa Life & Casualty, and year-to-date reached $514 million. - Sub-servicing volume at Global Home Loans totaled $109 billion, a 17 percent increase from August 2003. "Countrywide's well-balanced business model continues to produce strong operational results amidst a transitional environment," said Stanford L. Kurland, President and Chief Operating Officer. "Compared to a year ago, the total mortgage origination market is smaller as a result of lower refinance volume. This impact has been mitigated by Countrywide's dramatic growth in purchase fundings and record volumes of adjustable-rate, home equity and subprime loans. On the servicing side, our portfolio grew $18 billion from July 2004 to reach a new high of $765 billion, as we set our sights on becoming the industry's #1 servicer. The Company's servicing portfolio has grown 19 percent since the beginning of the year and 29 percent over the last twelve months. Countrywide's diversification efforts were led by Countrywide Bank. The Bank's assets have doubled over the last year to $31 billion, on track with our growth plan." (more) 3-3-3 Founded in 1969, Countrywide Financial Corporation is a member of the S&P 500, Forbes 2000 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 credit-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 operations, 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; and Global Home Loans, a U.K. 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. (tables follow) COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES OPERATING STATISTICS(1) (Dollars in Millions)
Month Ended Year-to-Date ------------------------ ------------ August 31, August 31, August 31, 2004 2003 2004 ------------------------ ------------ LOAN PRODUCTION Number of Working Days in the Period 22 21 169 Average Daily Loan Applications $ 2,051 $ 1,808 $ 2,026 Mortgage Loan Pipeline (loans in process) $ 50,024 $ 53,576 Loan Fundings: Consumer Markets Division $ 9,288 $ 12,283 $ 71,922 Wholesale Lending Division 6,102 7,222 46,964 Correspondent Lending Division 11,152 17,870 88,252 ---------- ---------- ---------- Total Mortgage Banking 26,542 37,375 207,138 Capital Markets 1,592 2,059 11,911 Treasury Bank (2) 2,988 1,541 17,644 ---------- ---------- ---------- TOTAL LOAN FUNDINGS $ 31,122 $ 40,975 $ 236,693 ---------- ---------- ---------- Loan Fundings in Units: Consumer Markets Division 67,019 92,465 518,163 Wholesale Lending Division 34,422 42,036 265,148 Correspondent Lending Division 64,659 104,396 502,073 ---------- ---------- ---------- Total Mortgage Banking 166,100 238,897 1,285,384 Capital Markets 6,948 6,303 46,871 Treasury Bank (2) 28,829 18,060 180,172 ---------- ---------- ---------- TOTAL LOAN FUNDINGS IN UNITS 201,877 263,260 1,512,427 ---------- ---------- ---------- Loan Fundings: Purchase (3) $ 17,797 $ 12,571 $ 112,914 Non-purchase (3) 13,325 28,404 123,779 ---------- ---------- ---------- TOTAL LOAN FUNDINGS $ 31,122 $ 40,975 $ 236,693 ---------- ---------- ---------- Government Fundings $ 961 $ 2,505 $ 9,653 ARM Fundings $ 18,278 $ 10,011 $ 117,685 Home Equity Fundings $ 3,056 $ 1,697 $ 18,484 Subprime Fundings $ 4,275 $ 1,654 $ 24,506 LOAN SERVICING (4) Volume $ 765,342 $ 591,905 Units 5,773,837 4,760,141 Subservicing Volume (5) $ 16,312 $ 11,483 Subservicing Units 169,665 142,527 Prepayments in Full $ 13,232 $ 25,236 $ 122,551 Bulk Servicing Acquisitions $ 4,626 $ 341 $ 22,310 Portfolio Delinquency (%) - CHL (6) 3.57% 3.77% Foreclosures Pending (%) - CHL (6) 0.35% 0.46%
(more) COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES OPERATING STATISTICS(1) (Dollars in Millions)
Month Ended Year-to-Date -------------------------- ------------ August 31, August 31, August 31, 2004 2003 2004 -------------------------- ------------ LOAN CLOSING SERVICES (UNITS) Credit Reports 677,931 492,787 4,959,455 Flood Determinations 265,888 234,552 1,871,745 Appraisals 74,314 60,025 486,417 Automated Property Valuation Services 480,329 349,978 3,486,882 Other 13,324 12,566 116,896 ----------- ----------- ----------- TOTAL UNITS 1,511,786 1,149,908 10,921,395 ----------- ----------- ----------- CAPITAL MARKETS Securities Trading Volume (7) $ 240,678 $ 255,513 $ 2,079,338 BANKING Assets Held by Treasury Bank (in billions) $ 30.9 $ 15.1 INSURANCE Net Premiums Earned: Carrier $ 51 $ 55 $ 412 Reinsurance 13 11 102 ----------- ----------- ----------- TOTAL NET PREMIUMS EARNED $ 64 $ 66 $ 514 ----------- ----------- ----------- GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $ 109 $ 93 PERIOD-END RATES 10-Year U.S. Treasury Yield 4.130% 4.458% FNMA 30-Year Fixed Rate MBS Coupon 5.162% 5.670%
- ------------ (1) The above data reflect current operating statistics and do not constitute all factors impacting the quarterly and annual financial results of the Company. All figures are unaudited and monthly figures may be adjusted in the reported financial statements of the Company. Such financial statements are provided by the Company quarterly. The Company makes no commitment to update this information for changes in circumstances or events which occur subsequent to the date of this release. (2) Treasury Bank funds loans for investment purposes; these loans are processed for Treasury Bank by the production divisions. (3) Purchase fundings include first trust deed and home equity loans used as purchase money debt in the acquisition of a home. Non-purchase fundings include first trust deed refinance loans, home equity refinance loans, and stand-alone home equity loans. (4) Includes warehouse loans and loans under subservicing agreements for other clients. (5) Subservicing volume for other clients. (6) Expressed as a percentage of the total number of loans serviced, excluding subserviced loans and portfolios purchased at a discount due to their non-performing status. (7) Includes trades with Mortgage Banking Division. ### EX-99.20 3 v01781exv99w20.txt EXHIBIT 99.20 Exhibit 99.20 COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES ROLLING THIRTEEN MONTH STATISTICAL DATA (DOLLARS IN MILLIONS)
AUG-03 SEP-03 OCT-03 NOV-03 DEC-03 JAN-04 FEB-04 ---------- ---------- --------- ---------- ---------- ---------- ---------- LOAN PRODUCTION Number of Working Days in the Period 21 21 23 19 22 20 19 Average Daily Loan Applications $ 1,808 $ 1,858 $ 1,564 $ 1,479 $ 1,339 $ 1,776 $ 1,968 Mortgage Loan Pipeline (loans-in-process) $ 53,576 $ 47,182 $ 42,650 $ 38,841 $ 32,969 $ 38,354 $ 43,760 Loan Fundings: Consumer Markets Division $ 12,283 $ 9,392 $ 8,198 $ 6,954 $ 7,670 $ 6,211 $ 7,326 Wholesale Lending Division 7,222 5,632 6,235 4,725 4,902 3,844 4,801 Correspondent Lending Division 17,870 13,225 10,908 8,598 9,390 8,240 8,518 ---------------------------------------------------------------------------------------- Total Mortgage Banking 37,375 28,249 25,341 20,277 21,962 18,295 20,645 Capital Markets 2,059 3,066 2,314 829 1,489 1,013 1,046 Treasury Bank (1) 1,541 1,802 1,310 1,100 1,698 1,312 1,582 ---------------------------------------------------------------------------------------- TOTAL LOAN FUNDINGS $ 40,975 $ 33,117 $ 28,965 $ 22,206 $ 25,149 $ 20,620 $ 23,273 ======================================================================================== Loan Fundings in Units: Consumer Markets Division 92,465 74,566 67,213 57,058 61,031 49,154 54,962 Wholesale Lending Division 42,036 34,660 38,255 28,887 29,638 22,685 27,880 Correspondent Lending Division 104,396 81,376 67,709 52,969 57,079 49,694 50,250 ---------------------------------------------------------------------------------------- Total Mortgage Banking 238,897 190,602 173,177 138,914 147,748 121,533 133,092 Capital Markets 6,303 9,718 9,266 4,629 6,357 4,680 3,491 Treasury Bank (1) 18,060 18,352 14,938 13,257 16,861 14,681 16,760 ---------------------------------------------------------------------------------------- TOTAL LOAN FUNDINGS IN UNITS 263,260 218,672 197,381 156,800 170,966 140,894 153,343 ======================================================================================== Loan Fundings: Purchase (2) $ 12,571 $ 12,719 $ 12,366 $ 9,852 $ 12,115 $ 9,274 $ 9,226 Non-purchase (2) 28,404 20,398 16,599 12,354 13,034 11,346 14,047 ---------------------------------------------------------------------------------------- TOTAL LOAN FUNDINGS $ 40,975 $ 33,117 $ 28,965 $ 22,206 $ 25,149 $ 20,620 $ 23,273 ======================================================================================== Government Fundings $ 2,505 $ 2,093 $ 1,774 $ 1,370 $ 1,343 $ 1,161 $ 1,117 ARM Fundings $ 10,011 $ 10,072 $ 10,676 $ 8,487 $ 9,679 $ 9,478 $ 10,293 Home Equity Fundings $ 1,697 $ 1,680 $ 1,752 $ 1,620 $ 1,805 $ 1,564 $ 1,637 Subprime Fundings $ 1,654 $ 2,158 $ 2,424 $ 2,029 $ 2,257 $ 2,009 $ 2,124 LOAN SERVICING (3) Volume $ 591,905 $ 606,095 $ 621,000 $ 631,470 $ 644,855 $ 657,541 $ 669,076 Units 4,760,141 4,834,943 4,923,935 5,001,743 5,080,621 5,162,726 5,234,634 Subservicing Volume (4) $ 11,483 $ 11,446 $ 11,921 $ 13,671 $ 14,404 $ 15,871 $ 15,548 Subservicing Units 142,527 128,326 139,983 157,785 159,357 166,923 163,190 Prepayments in Full $ 25,236 $ 17,463 $ 14,315 $ 11,403 $ 11,845 $ 9,387 $ 13,090 Bulk Servicing Acquisitions $ 341 $ 581 $ 1,845 $ 144 $ 1,054 $ 3,706 $ 3,123 Portfolio Delinquency - CHL (5) 3.77% 3.81% 3.54% 3.90% 3.91% 3.71% 3.71% Foreclosures Pending - CHL (5) 0.46% 0.45% 0.50% 0.43% 0.43% 0.43% 0.44% MAR-04 APR-04 MAY-04 JUN-04 JUL-04 AUG-04 YTD ---------- ---------- ---------- ---------- ---------- ---------- ---------- LOAN PRODUCTION Number of Working Days in the Period 23 22 20 22 21 22 169 Average Daily Loan Applications $ 2,455 $ 2,041 $ 1,945 $ 1,905 $ 2,006 $ 2,051 $ 2,026 Mortgage Loan Pipeline (loans-in-process) $ 57,422 $ 54,836 $ 49,675 $ 47,317 $ 48,142 $ 50,024 Loan Fundings: Consumer Markets Division $ 9,522 $ 11,115 $ 9,815 $ 9,804 $ 8,841 $ 9,288 $ 71,922 Wholesale Lending Division 6,993 7,727 6,208 5,913 5,376 6,102 46,964 Correspondent Lending Division 12,029 14,362 11,986 11,560 10,405 11,152 88,252 --------------------------------------------------------------------------- ---------- Total Mortgage Banking 28,544 33,204 28,009 27,277 24,622 26,542 207,138 Capital Markets 1,265 494 1,875 2,230 2,396 1,592 11,911 Treasury Bank (1) 2,502 2,147 1,931 2,496 2,686 2,988 17,644 --------------------------------------------------------------------------- ---------- TOTAL LOAN FUNDINGS $ 32,311 $ 35,845 $ 31,815 $ 32,003 $ 29,704 $ 31,122 $ 236,693 =========================================================================== ========== Loan Fundings in Units: Consumer Markets Division 68,664 75,880 68,759 69,912 63,813 67,019 518,163 Wholesale Lending Division 39,820 42,114 34,247 33,270 30,710 34,422 265,148 Correspondent Lending Division 67,815 77,570 65,425 65,668 60,992 64,659 502,073 --------------------------------------------------------------------------- ---------- Total Mortgage Banking 176,299 195,564 168,431 168,850 155,515 166,100 1,285,384 Capital Markets 5,114 1,463 6,740 8,486 9,949 6,948 46,871 Treasury Bank (1) 23,351 21,909 21,779 26,627 26,236 28,829 180,172 --------------------------------------------------------------------------- ---------- TOTAL LOAN FUNDINGS IN UNITS 204,764 218,936 196,950 203,963 191,700 201,877 1,512,427 =========================================================================== ========== Loan Fundings: Purchase (2) $ 13,127 $ 13,883 $ 14,575 $ 17,491 $ 17,541 $ 17,797 $ 112,914 Non-purchase (2) 19,184 21,962 17,240 14,512 12,163 13,325 123,779 --------------------------------------------------------------------------- ---------- TOTAL LOAN FUNDINGS $ 32,311 $ 35,845 $ 31,815 $ 32,003 $ 29,704 $ 31,122 $ 236,693 =========================================================================== ========== Government Fundings $ 1,530 $ 1,491 $ 1,235 $ 1,119 $ 1,039 $ 961 $ 9,653 ARM Fundings $ 13,872 $ 15,739 $ 15,745 $ 17,259 $ 17,021 $ 18,278 $ 117,685 Home Equity Fundings $ 2,088 $ 2,242 $ 2,272 $ 2,787 $ 2,838 $ 3,056 $ 18,484 Subprime Fundings $ 2,759 $ 2,765 $ 3,044 $ 3,745 $ 3,785 $ 4,275 $ 24,506 LOAN SERVICING (3) Volume $ 682,848 $ 693,768 $ 706,943 $ 726,227 $ 746,905 $ 765,342 Units 5,313,058 5,372,526 5,443,555 5,547,050 5,668,620 5,773,837 Subservicing Volume (4) $ 15,307 $ 15,028 $ 15,289 $ 16,027 $ 16,843 $ 16,312 Subservicing Units 166,514 163,842 163,931 163,396 172,602 169,665 Prepayments in Full $ 18,317 $ 23,557 $ 17,593 $ 14,945 $ 12,430 $ 13,232 $ 122,551 Bulk Servicing Acquisitions $ 2,349 $ 1,122 $ 1,563 $ 1,634 $ 4,187 $ 4,626 $ 22,310 Portfolio Delinquency - CHL (5) 3.20% 3.19% 3.49% 3.48% 3.51% 3.57% Foreclosures Pending - CHL (5) 0.42% 0.38% 0.36% 0.37% 0.37% 0.35%
(more) COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES ROLLING THIRTEEN MONTH STATISTICAL DATA (DOLLARS IN MILLIONS)
AUG-03 SEP-03 OCT-03 NOV-03 DEC-03 JAN-04 FEB-04 ----------- ----------- ----------- ----------- ---------- ----------- ----------- LOAN CLOSING SERVICES (UNITS) Credit Reports 492,787 499,431 518,308 420,843 405,336 533,055 547,704 Flood Determinations 234,552 222,890 217,134 173,044 172,325 188,682 195,380 Appraisals 60,025 51,507 53,783 44,475 47,004 44,146 51,425 Automated Property Valuation Services 349,978 358,983 399,559 314,886 319,220 333,803 356,077 Other 12,566 11,769 11,457 9,741 12,096 14,750 14,218 ------------------------------------------------------------------------------------------ TOTAL UNITS 1,149,908 1,144,580 1,200,241 962,989 955,981 1,114,436 1,164,804 ========================================================================================== CAPITAL MARKETS Securities Trading Volume (6) $ 255,513 $ 240,154 $ 208,429 $ 196,586 $ 179,390 $ 192,618 $ 221,082 BANKING Assets Held by Treasury Bank (in billions) $ 15.1 $ 16.4 $ 17.1 $ 17.7 $ 19.4 $ 20.3 $ 21.8 INSURANCE Net Premiums Earned: Carrier $ 55 $ 51 $ 59 $ 54 $ 51 $ 56 $ 52 Reinsurance 11 10 11 13 13 12 13 ------------------------------------------------------------------------------------------ TOTAL NET PREMIUMS EARNED $ 66 $ 61 $ 70 $ 67 $ 64 $ 68 $ 65 ========================================================================================== GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $ 93 $ 98 $ 100 $ 103 $ 106 $ 109 $ 112 WORKFORCE HEAD COUNT: (7) Loan Originations 20,447 19,251 18,968 18,812 18,897 18,989 19,364 Loan Servicing 6,002 6,111 6,087 6,098 6,069 6,017 5,870 Loan Closing Services 1,065 956 955 952 931 941 952 Insurance 1,851 1,904 1,882 1,856 1,823 1,781 1,768 Capital Markets 440 452 470 476 477 484 491 Global Operations 1,897 1,962 1,965 1,997 1,981 1,899 1,948 Banking 808 804 787 810 813 803 823 Corporate Overhead & Other 3,238 3,309 3,282 3,282 3,307 3,347 3,366 ------------------------------------------------------------------------------------------ TOTAL WORKFORCE HEAD COUNT 35,748 34,749 34,396 34,283 34,298 34,261 34,582 ========================================================================================== PERIOD-END RATES 10-Year U.S. Treasury Yield 4.458% 3.939% 4.301% 4.322% 4.261% 4.138% 3.984% FNMA 30-Year Fixed Rate MBS Coupon 5.670% 5.012% 5.335% 5.410% 5.276% 5.192% 5.001% MAR-04 APR-04 MAY-04 JUN-04 JUL-04 AUG-04 YTD ----------- ----------- ----------- ----------- ----------- ----------- ----------- LOAN CLOSING SERVICES (UNITS) Credit Reports 738,113 626,142 574,524 631,763 630,223 677,931 4,959,455 Flood Determinations 277,958 246,580 214,494 239,522 243,241 265,888 1,871,745 Appraisals 69,074 65,975 58,912 59,839 62,732 74,314 486,417 Automated Property Valuation Services 439,015 473,601 456,663 480,364 467,030 480,329 3,486,882 Other 16,379 16,058 13,583 15,332 13,252 13,324 116,896 ---------------------------------------------------------------------------- ------------ TOTAL UNITS 1,540,539 1,428,356 1,318,176 1,426,820 1,416,478 1,511,786 10,921,395 ============================================================================ ============ CAPITAL MARKETS Securities Trading Volume (6) $ 276,738 $ 274,862 $ 292,116 $ 314,599 $ 266,645 $ 240,678 $ 2,079,338 BANKING Assets Held by Treasury Bank (in billions) $ 23.7 $ 24.9 $ 25.6 $ 27.2 $ 28.6 $ 30.9 INSURANCE Net Premiums Earned: Carrier $ 50 $ 50 $ 48 $ 51 $ 54 $ 51 $ 412 Reinsurance 12 13 13 13 13 13 102 ---------------------------------------------------------------------------- ------------ TOTAL NET PREMIUMS EARNED $ 62 $ 63 $ 61 $ 64 $ 67 $ 64 $ 514 ============================================================================ ============ GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $ 111 $ 108 $ 111 $ 110 $ 110 $ 109 WORKFORCE HEAD COUNT: (7) Loan Originations 20,529 21,696 22,400 23,035 23,114 23,680 Loan Servicing 5,802 5,828 5,864 5,908 5,910 5,920 Loan Closing Services 926 938 993 1,019 1,049 1,072 Insurance 1,762 1,809 1,822 1,826 1,854 1,845 Capital Markets 494 513 517 529 540 554 Global Operations 1,993 1,961 1,965 1,955 1,929 1,942 Banking 849 888 956 1,003 1,015 1,083 Corporate Overhead & Other 3,389 3,441 3,529 3,660 3,814 3,889 ---------------------------------------------------------------------------- TOTAL WORKFORCE HEAD COUNT 35,744 37,074 38,046 38,935 39,225 39,985 ============================================================================ PERIOD-END RATES 10-Year U.S. Treasury Yield 3.840% 4.499% 4.655% 4.610% 4.477% 4.130% FNMA 30-Year Fixed Rate MBS Coupon 4.937% 5.592% 5.752% 5.589% 5.484% 5.162%
(1) Treasury Bank funds loans for investment purposes; these loans are processed for Treasury Bank by the production divisions. (2) Purchase fundings include first trust deed and home equity loans used as purchase money debt in the acquisition of a home. Non-purchase fundings include first trust deed refinance loans, home equity refinance loans, and stand-alone home equity loans. (4) Subservicing volume for other clients. (5) Expressed as a percentage of the total number of loans serviced, excluding subserviced loans and portfolios purchased at a discount due to their non-performing status. (6) Includes trades with Mortgage Banking Division. (7) Workforce Head Count includes full-time employees, contract, and temporary help. ### -----END PRIVACY-ENHANCED MESSAGE-----