-----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, VNdgn/uAXFXlaj2UZ0Bmv9IEsZjoq+zwEYy6KpRFW7578gUVIprCj5xJl0YdDto6 AKdJepn1LHFODwiB68XdUA== 0000950129-04-008765.txt : 20041109 0000950129-04-008765.hdr.sgml : 20041109 20041109154805 ACCESSION NUMBER: 0000950129-04-008765 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20041109 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041109 DATE AS OF CHANGE: 20041109 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: 041129496 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 v03176e8vk.htm FORM 8-K Countrywide Financial Corporation - 11/9/2004
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): November 9, 2004

COUNTRYWIDE FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

         
Delaware
(State or other jurisdiction
of incorporation 		  1-8422
(Commission
File Number) 		  13-2641992
(IRS Employer
Identification No.)
     
4500 Park Granada, Calabasas, CA
(Address of principal executive offices) 		  91302
(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 99.24
Exhibit 99.25

Table of Contents

Item 2.02. Results of Operations and Financial Condition

     On November 9, 2004, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended October 31, 2004, a copy of which is attached as Exhibit 99.24. On November 9, 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 99.25.

     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

     
99.24
  Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended October 31, 2004.
99.25
  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: November 8, 2004  /s/ Laura Milleman    
  Laura Milleman   
  Managing Director and Chief Accounting Officer   
 

 

EX-99.24 2 v03176exv99w24.txt EXHIBIT 99.24 EXHIBIT 99.24 NEWS [COUNTRYWIDE FINANCIAL LOGO] INVESTOR CONTACT: (818) 225-3550 DAVID BIGELOW OR LISA RIORDAN MEDIA CONTACT: (800) 796-8448 FOR IMMEDIATE RELEASE COUNTRYWIDE REPORTS OCTOBER 2004 OPERATIONAL DATA -- SERVICING PORTFOLIO SURPASSES $800 BILLION LEVEL -- -- PIPELINE OF LOANS-IN-PROCESS RISES TO $52 BILLION -- -- OCTOBER FUNDINGS REMAIN STRONG AT $29 BILLION -- CALABASAS, CA (November 9, 2004) -- Countrywide Financial Corporation (NYSE: CFC), a diversified financial services provider, released operational data for the month ended October 31, 2004. Highlights included the following: - Loan fundings were $29 billion for the month, a decline of 6 percent from the prior month, but an increase of 1 percent over October 2003. Year-to-date funding volume now totals $297 billion. - Reflecting a seasonal slow-down, monthly purchase volume fell 12 percent from last month to $15 billion, but was 20 percent higher than October 2003's level. Year-to-date purchase activity now stands at $145 billion, exceeding 2003's full year level of $130 billion. - Adjustable-rate fundings declined by 22 percent from the prior month to $16 billion, but were 53 percent greater than October 2003. Year-to-date volume reached $155 billion, an increase of 69 percent over calendar 2003 volume. - Home equity funding activity of $3.0 billion was 73 percent more than October 2003, but down 4 percent from last month. Year-to-date home equity production reached $25 billion. - Subprime volume totaled $3.3 billion, rising 35 percent from last October, but fell 16 percent from last month. Year-to-date subprime volume totaled $32 billion. - Average daily application activity was $2.0 billion during October, a decline of 5 percent from the prior month, but 27 percent greater than October 2003. - Led by a higher level of refinance activity, the pipeline of loans-in-process at October 31, 2004 increased by 2 percent over last month to $52 billion, and was 22 percent greater than October 2003. - The servicing portfolio set a new record, reaching $806 billion in October, surpassing the October 2003 level by $185 billion, or 30 percent. (more) 2-2-2 - October securities trading volume of $239 billion increased by 15 percent over October 2003, but decreased by 17 percent from last month. Year-to-date trading volume totaled $2.6 trillion. - Total assets at Countrywide Bank rose to $36 billion, 7 percent higher than September 2004 and more than double the level of October 2003. - Monthly net earned premiums at Balboa were $68 million, down 3 percent from October 2003 as a result of lower activity in Balboa Life & Casualty, and year-to-date reached $646 million. - Subservicing volume at Global Home Loans totaled $112 billion, a 12 percent increase from October 2003. "Countrywide's business model continues to produce solid operational results against the backdrop of a dynamic environment," said Stanford L. Kurland, President and Chief Operating Officer. "Industry mortgage origination activity continues to decline, reflecting a seasonal slow-down in purchase activity, although a recent pick-up in refinance activity could partly offset this effect. While Countrywide experienced a decline in purchase production in October, the pipeline of loans-in-process increased to $52 billion. This suggests continued strength in funding levels for the near-term. On the servicing side, our portfolio grew $20 billion from September 2004 to reach a new high of $806 billion, and we became the #1 servicer at the end of the third quarter, according to Inside Mortgage Finance. Diversification efforts were led by Countrywide Bank, as total assets have more than doubled over the last year to $36 billion." 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. Mortgage banking businesses include loan production and loan servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services primarily prime-quality loans. Also included in Countrywide's mortgage banking segment is the LandSafe group of companies which provide loan closing services. Diversified financial services encompass banking, capital markets, insurance, and global operations, largely through the activities of Countrywide Bank, a division of Treasury Bank, N.A., a bank offering depository and home loan products; Countrywide Capital Markets, a mortgage-related investment banker; Balboa Life and Casualty Group, whose companies are national providers of property, life and casualty 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, among other things, the Company's future operations, business plans and strategies, as well as industry and market conditions, all of which 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; interest rate paths; 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 ----------------------------- ------------ October 31, October 31, October 31, 2004 2003 2004 ---------- ---------- ------------ LOAN PRODUCTION Number of Working Days in the Period 21 23 211 Average Daily Loan Applications $ 1,991 $ 1,564 $ 2,029 Mortgage Loan Pipeline (loans in process) $ 51,990 $ 42,650 Loan Fundings: Consumer Markets Division $ 9,666 $ 8,198 $ 90,752 Wholesale Lending Division 6,236 6,235 59,081 Correspondent Lending Division 9,846 10,908 108,908 ---------- ---------- ---------- Total Mortgage Banking 25,748 25,341 258,741 Capital Markets 729 2,314 14,763 Treasury Bank (2) 2,740 1,310 23,404 ---------- ---------- ---------- TOTAL LOAN FUNDINGS $ 29,217 $ 28,965 $ 296,908 ---------- ---------- ---------- Loan Fundings in Units: Consumer Markets Division 67,098 67,213 649,384 Wholesale Lending Division 33,390 38,255 331,356 Correspondent Lending Division 55,413 67,709 617,705 ---------- ---------- ---------- Total Mortgage Banking 155,901 173,177 1,598,445 Capital Markets 2,868 9,266 60,027 Treasury Bank (2) 28,081 14,938 236,989 ---------- ---------- ---------- TOTAL LOAN FUNDINGS IN UNITS 186,850 197,381 1,895,461 ---------- ---------- ---------- Loan Fundings: Purchase (3) $ 14,884 $ 12,366 $ 144,799 Non-purchase (3) 14,333 16,599 152,109 ---------- ---------- ---------- TOTAL LOAN FUNDINGS $ 29,217 $ 28,965 $ 296,908 ---------- ---------- ---------- Government Fundings $ 832 $ 1,774 $ 11,419 ARM Fundings $ 16,341 $ 10,676 $ 155,052 Home Equity Fundings $ 3,036 $ 1,752 $ 24,684 Subprime Fundings $ 3,276 $ 2,424 $ 31,676 LOAN SERVICING (4) Volume $ 805,922 $ 621,000 Units 6,018,496 4,923,935 Subservicing Volume (5) $ 16,869 $ 11,921 Subservicing Units 171,273 139,983 Prepayments in Full $ 14,336 $ 14,315 $ 150,556 Bulk Servicing Acquisitions $ 8,241 $ 1,845 $ 33,950 Portfolio Delinquency (%) - CHL (6) 3.92% 3.54% Foreclosures Pending (%) - CHL (6) 0.37% 0.50%
(more) COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES OPERATING STATISTICS (1) (Dollars in Millions)
Month Ended Year-to-Date ------------------------------- ------------ October 31, October 31, October 31, 2004 2003 2004 ----------- ----------- ------------ LOAN CLOSING SERVICES (UNITS) Credit Reports 660,351 518,308 6,277,467 Flood Determinations 237,386 217,134 2,348,361 Appraisals 77,388 53,783 641,923 Automated Property Valuation Services 477,592 399,559 4,428,234 Other 14,430 11,457 145,004 ----------- ----------- ----------- TOTAL UNITS 1,467,147 1,200,241 13,840,989 ----------- ----------- ----------- CAPITAL MARKETS Securities Trading Volume (7) $ 239,128 $ 208,429 $ 2,605,941 BANKING Assets Held by Treasury Bank (in billions) $ 36.4 $ 17.1 INSURANCE Net Premiums Earned: Carrier $ 54 $ 59 $ 516 Reinsurance 14 11 130 ----------- ----------- ----------- TOTAL NET PREMIUMS EARNED $ 68 $ 70 $ 646 ----------- ----------- ----------- GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $ 112 $ 100 PERIOD-END RATES 10-Year U.S. Treasury Yield 4.05% 4.33% FNMA 30-Year Fixed Rate MBS Coupon 5.11% 5.34%
- ---------- (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-99.25 3 v03176exv99w25.txt EXHIBIT 99.25 EXHIBIT 99.25 COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES ROLLING THIRTEEN MONTH STATISTICAL DATA (DOLLARS IN MILLIONS)
OCT-03 NOV-03 DEC-03 JAN-04 FEB-04 ------ ------ ------ ------ ------ LOAN PRODUCTION Number of Working Days in the Period 23 19 22 20 19 Average Daily Loan Applications $1,564 $1,479 $1,339 $1,776 $1,968 Mortgage Loan Pipeline (loans-in-process) $42,650 $38,841 $32,969 $38,354 $43,760 Loan Fundings: Consumer Markets Division $8,198 $6,954 $7,670 $6,211 $7,326 Wholesale Lending Division 6,235 4,725 4,902 3,844 4,801 Correspondent Lending Division 10,908 8,598 9,390 8,240 8,518 ----------------------------------------------------------------------------- Total Mortgage Banking 25,341 20,277 21,962 18,295 20,645 Capital Markets 2,314 829 1,489 1,013 1,046 Treasury Bank (1) 1,310 1,100 1,698 1,312 1,582 ----------------------------------------------------------------------------- TOTAL LOAN FUNDINGS $28,965 $22,206 $25,149 $20,620 $23,273 ============================================================================= Loan Fundings in Units: Consumer Markets Division 67,213 57,058 61,031 49,154 54,962 Wholesale Lending Division 38,255 28,887 29,638 22,685 27,880 Correspondent Lending Division 67,709 52,969 57,079 49,694 50,250 ----------------------------------------------------------------------------- Total Mortgage Banking 173,177 138,914 147,748 121,533 133,092 Capital Markets 9,266 4,629 6,357 4,680 3,491 Treasury Bank (1) 14,938 13,257 16,861 14,681 16,760 ----------------------------------------------------------------------------- TOTAL LOAN FUNDINGS IN UNITS 197,381 156,800 170,966 140,894 153,343 ============================================================================= Loan Fundings: Purchase (2) $12,366 $9,852 $12,115 $9,274 $9,226 Non-purchase (2) 16,599 12,354 13,034 11,346 14,047 ----------------------------------------------------------------------------- TOTAL LOAN FUNDINGS $28,965 $22,206 $25,149 $20,620 $23,273 ============================================================================= Government Fundings $1,774 $1,370 $1,343 $1,161 $1,117 ARM Fundings $10,676 $8,487 $9,679 $9,478 $10,293 Home Equity Fundings $1,752 $1,620 $1,805 $1,564 $1,637 Subprime Fundings $2,424 $2,029 $2,257 $2,009 $2,124 LOAN SERVICING (3) Volume $621,000 $631,470 $644,855 $657,541 $669,076 Units 4,923,935 5,001,743 5,080,621 5,162,726 5,234,634 Subservicing Volume (4) $11,921 $13,671 $14,404 $15,871 $15,548 Subservicing Units 139,983 157,785 159,357 166,923 163,190 Prepayments in Full $14,315 $11,403 $11,845 $9,387 $13,090 Bulk Servicing Acquisitions $1,845 $144 $1,054 $3,706 $3,123 Portfolio Delinquency - CHL (5) 3.54% 3.90% 3.91% 3.71% 3.71% Foreclosures Pending - CHL (5) 0.50% 0.43% 0.43% 0.43% 0.44%
MAR-04 APR-04 MAY-04 JUN-04 JUL-04 ------ ------ ------ ------ ------ LOAN PRODUCTION Number of Working Days in the Period 23 22 20 22 21 Average Daily Loan Applications $2,455 $2,041 $1,945 $1,905 $2,006 Mortgage Loan Pipeline (loans-in-process) $57,422 $54,836 $49,675 $47,317 $48,142 Loan Fundings: Consumer Markets Division $9,522 $11,115 $9,815 $9,804 $8,841 Wholesale Lending Division 6,993 7,727 6,208 5,913 5,376 Correspondent Lending Division 12,029 14,362 11,986 11,560 10,405 ----------------------------------------------------------------------------- Total Mortgage Banking 28,544 33,204 28,009 27,277 24,622 Capital Markets 1,265 494 1,875 2,230 2,396 Treasury Bank (1) 2,502 2,147 1,931 2,496 2,686 ----------------------------------------------------------------------------- TOTAL LOAN FUNDINGS $32,311 $35,845 $31,815 $32,003 $29,704 ============================================================================= Loan Fundings in Units: Consumer Markets Division 68,664 75,880 68,759 69,912 63,813 Wholesale Lending Division 39,820 42,114 34,247 33,270 30,710 Correspondent Lending Division 67,815 77,570 65,425 65,668 60,992 ----------------------------------------------------------------------------- Total Mortgage Banking 176,299 195,564 168,431 168,850 155,515 Capital Markets 5,114 1,463 6,740 8,486 9,949 Treasury Bank (1) 23,351 21,909 21,779 26,627 26,236 ----------------------------------------------------------------------------- TOTAL LOAN FUNDINGS IN UNITS 204,764 218,936 196,950 203,963 191,700 ============================================================================= Loan Fundings: Purchase (2) $13,127 $13,883 $14,575 $17,491 $17,541 Non-purchase (2) 19,184 21,962 17,240 14,512 12,163 ----------------------------------------------------------------------------- TOTAL LOAN FUNDINGS $32,311 $35,845 $31,815 $32,003 $29,704 ============================================================================= Government Fundings $1,530 $1,491 $1,235 $1,119 $1,039 ARM Fundings $13,872 $15,739 $15,745 $17,259 $17,021 Home Equity Fundings $2,088 $2,242 $2,272 $2,787 $2,838 Subprime Fundings $2,759 $2,765 $3,044 $3,745 $3,785 LOAN SERVICING (3) Volume $682,848 $693,768 $706,943 $726,227 $746,905 Units 5,313,058 5,372,526 5,443,555 5,547,050 5,668,620 Subservicing Volume (4) $15,307 $15,028 $15,289 $16,027 $16,843 Subservicing Units 166,514 163,842 163,931 163,396 172,602 Prepayments in Full $18,317 $23,557 $17,593 $14,945 $12,430 Bulk Servicing Acquisitions $2,349 $1,122 $1,563 $1,634 $4,187 Portfolio Delinquency - CHL (5) 3.20% 3.19% 3.49% 3.48% 3.51% Foreclosures Pending - CHL (5) 0.42% 0.38% 0.36% 0.37% 0.37%
AUG-04 SEP-04 OCT-04 YTD ------ ------ ------ --- LOAN PRODUCTION Number of Working Days in the Period 22 21 21 211 Average Daily Loan Applications $2,051 $2,098 $1,991 $2,029 Mortgage Loan Pipeline (loans-in-process) $50,024 $50,887 $51,990 Loan Fundings: Consumer Markets Division $9,288 $9,164 $9,666 $90,752 Wholesale Lending Division 6,102 5,881 6,236 59,081 Correspondent Lending Division 11,152 10,810 9,846 108,908 ---------------------------------------------- ---------------- Total Mortgage Banking 26,542 25,855 25,748 258,741 Capital Markets 1,592 2,123 729 14,763 Treasury Bank (1) 2,988 3,020 2,740 23,404 ---------------------------------------------- ---------------- TOTAL LOAN FUNDINGS $31,122 $30,998 $29,217 $296,908 ============================================== ================ Loan Fundings in Units: Consumer Markets Division 67,019 64,123 67,098 649,384 Wholesale Lending Division 34,422 32,818 33,390 331,356 Correspondent Lending Division 64,659 60,219 55,413 617,705 ---------------------------------------------- ---------------- Total Mortgage Banking 166,100 157,160 155,901 1,598,445 Capital Markets 6,948 10,288 2,868 60,027 Treasury Bank (1) 28,829 28,736 28,081 236,989 ---------------------------------------------- ---------------- TOTAL LOAN FUNDINGS IN UNITS 201,877 196,184 186,850 1,895,461 ============================================== ================ Loan Fundings: Purchase (2) $17,797 $17,001 $14,884 $144,799 Non-purchase (2) 13,325 13,997 14,333 152,109 ---------------------------------------------- ---------------- TOTAL LOAN FUNDINGS $31,122 $30,998 $29,217 $296,908 ============================================== ================ Government Fundings $961 $934 $832 $11,419 ARM Fundings $18,278 $21,026 $16,341 $155,052 Home Equity Fundings $3,056 $3,164 $3,036 $24,684 Subprime Fundings $4,275 $3,894 $3,276 $31,676 LOAN SERVICING (3) Volume $765,342 $785,992 $805,922 Units 5,773,837 5,889,950 6,018,496 Subservicing Volume (4) $16,312 $17,861 $16,869 Subservicing Units 169,665 174,079 171,273 Prepayments in Full $13,232 $13,669 $14,336 $150,556 Bulk Servicing Acquisitions $4,626 $3,399 $8,241 $33,950 Portfolio Delinquency - CHL (5) 3.57% 3.73% 3.92% Foreclosures Pending - CHL (5) 0.35% 0.35% 0.37%
(more) COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES ROLLING THIRTEEN MONTH STATISTICAL DATA (DOLLARS IN MILLIONS)
OCT-03 NOV-03 DEC-03 JAN-04 FEB-04 ------ ------ ------ ------ ------ LOAN CLOSING SERVICES (UNITS) Credit Reports 518,308 420,843 405,336 533,055 547,704 Flood Determinations 217,134 173,044 172,325 188,682 195,380 Appraisals 53,783 44,475 47,004 44,146 51,425 Automated Property Valuation Services 399,559 314,886 319,220 333,803 356,077 Other 11,457 9,741 12,096 14,750 14,218 ----------------------------------------------------------------------------- TOTAL UNITS 1,200,241 962,989 955,981 1,114,436 1,164,804 ============================================================================= CAPITAL MARKETS Securities Trading Volume (6) $208,429 $196,586 $179,390 $192,618 $221,082 BANKING Assets Held by Treasury Bank (in billions) $17.1 $17.7 $19.4 $20.3 $21.8 INSURANCE Net Premiums Earned: Carrier $59 $54 $51 $56 $52 Reinsurance 11 13 13 12 13 ----------------------------------------------------------------------------- TOTAL NET PREMIUMS EARNED $70 $67 $64 $68 $65 ============================================================================= GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $100 $103 $106 $109 $112 WORKFORCE HEAD COUNT: (7) Loan Originations 19,089 18,933 19,018 19,020 19,395 Loan Servicing 6,087 6,098 6,069 6,017 5,870 Loan Closing Services 844 841 820 914 925 Insurance 1,882 1,856 1,823 1,781 1,768 Capital Markets 470 476 477 484 491 Global Operations 1,965 1,997 1,981 1,899 1,948 Banking 777 800 803 799 819 Corporate Overhead & Other 3,282 3,282 3,307 3,347 3,366 ----------------------------------------------------------------------------- TOTAL WORKFORCE HEAD COUNT 34,396 34,283 34,298 34,261 34,582 ============================================================================= PERIOD-END RATES 10-Year U.S. Treasury Yield 4.33% 4.34% 4.27% 4.16% 3.99% FNMA 30-Year Fixed Rate MBS Coupon 5.34% 5.41% 5.28% 5.19% 5.00%
MAR-04 APR-04 MAY-04 JUN-04 JUL-04 ------ ------ ------ ------ ------ LOAN CLOSING SERVICES (UNITS) Credit Reports 738,113 626,142 574,524 631,763 630,223 Flood Determinations 277,958 246,580 214,494 239,522 243,241 Appraisals 69,074 65,975 58,912 59,839 62,732 Automated Property Valuation Services 439,015 473,601 456,663 480,364 467,030 Other 16,379 16,058 13,583 15,332 13,252 ----------------------------------------------------------------------------- TOTAL UNITS 1,540,539 1,428,356 1,318,176 1,426,820 1,416,478 ============================================================================= CAPITAL MARKETS Securities Trading Volume (6) $276,738 $274,862 $292,116 $314,599 $266,645 BANKING Assets Held by Treasury Bank (in billions) $23.7 $24.9 $25.6 $27.2 $28.6 INSURANCE Net Premiums Earned: Carrier $50 $50 $48 $51 $54 Reinsurance 12 13 13 13 13 ----------------------------------------------------------------------------- TOTAL NET PREMIUMS EARNED $62 $63 $61 $64 $67 ============================================================================= GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $111 $108 $111 $110 $110 WORKFORCE HEAD COUNT: (7) Loan Originations 20,560 21,696 22,400 23,035 23,114 Loan Servicing 5,802 5,828 5,864 5,908 5,910 Loan Closing Services 899 938 993 1,019 1,049 Insurance 1,762 1,809 1,822 1,826 1,854 Capital Markets 494 513 517 529 540 Global Operations 1,993 1,961 1,965 1,955 1,929 Banking 845 888 956 1,003 1,015 Corporate Overhead & Other 3,389 3,441 3,529 3,660 3,814 ----------------------------------------------------------------------------- TOTAL WORKFORCE HEAD COUNT 35,744 37,074 38,046 38,935 39,225 ============================================================================= PERIOD-END RATES 10-Year U.S. Treasury Yield 3.86% 4.53% 4.66% 4.62% 4.50% FNMA 30-Year Fixed Rate MBS Coupon 4.94% 5.59% 5.75% 5.59% 5.48%
AUG-04 SEP-04 OCT-04 YTD ------ ------ ------ --- LOAN CLOSING SERVICES (UNITS) Credit Reports 677,931 657,661 660,351 6,277,467 Flood Determinations 265,888 239,230 237,386 2,348,361 Appraisals 74,314 78,118 77,388 641,923 Automated Property Valuation Services 480,329 463,760 477,592 4,428,234 Other 13,324 13,678 14,430 145,004 ---------------------------------------------- ---------------- TOTAL UNITS 1,511,786 1,452,447 1,467,147 13,840,989 ============================================== ================ CAPITAL MARKETS Securities Trading Volume (6) $240,678 $287,475 $239,128 $2,605,941 BANKING Assets Held by Treasury Bank (in billions) $30.9 $33.9 $36.4 INSURANCE Net Premiums Earned: Carrier $51 $50 $54 $516 Reinsurance 13 14 14 130 ---------------------------------------------- ---------------- TOTAL NET PREMIUMS EARNED $64 $64 $68 $646 ============================================== ================ GLOBAL OPERATIONS Global Home Loans Subservicing Volume (in billions) $109 $110 $112 WORKFORCE HEAD COUNT: (7) Loan Originations 23,680 24,334 24,899 Loan Servicing 5,920 5,961 6,079 Loan Closing Services 1,072 1,100 1,113 Insurance 1,845 1,881 1,880 Capital Markets 554 559 566 Global Operations 1,942 1,935 1,949 Banking 1,083 1,164 1,184 Corporate Overhead & Other 3,889 4,001 4,033 ---------------------------------------------- TOTAL WORKFORCE HEAD COUNT 39,985 40,935 41,703 ============================================== PERIOD-END RATES 10-Year U.S. Treasury Yield 4.13% 4.14% 4.05% FNMA 30-Year Fixed Rate MBS Coupon 5.16% 5.23% 5.11%
(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. (3) Includes warehouse loans and loans under subservicing agreements for other clients. (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-----