8-K

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): February 9, 2005

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):

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

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

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

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

Item 2.02. Results of Operations and Financial Condition

     On February 9, 2005, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended January 31, 2005, a copy of which is attached as Exhibit 99.1. On February 9, 2005, 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 99.2.

     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

99.1	Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended January 31, 2005.
99.2	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: February 8, 2005	/s/ Laura Milleman
	Laura Milleman Managing Director and Chief Accounting Officer

EX-99.1

EXHIBIT 99.1

NEWS

INVESTOR CONTACT: (818) 225-3550
David Bigelow or Lisa Riordan

MEDIA CONTACT: (800) 796-8448

For Immediate Release

COUNTRYWIDE REPORTS JANUARY 2005 OPERATIONAL DATA

– SERVICING PORTFOLIO REACHES $867 BILLION –

– MORTGAGE LOAN PIPELINE HOLDS STEADY AT $48 BILLION –

CALABASAS, CA (February 9, 2005) – Countrywide Financial Corporation (NYSE: CFC), a diversified financial services provider, released operational data for the month ended January 31, 2005. Highlights included the following:

•   Mortgage loan fundings totaled $28.2 billion for January 2005, a 37 percent increase over the prior year, however, a decrease of 19 percent from December 2004 due in part to 3 fewer business days. On an average daily basis, fundings fell by 6 percent from last month.

–   Monthly purchase volume was $13 billion, an increase of 37 percent over January 2004, but a decline of 23 percent from December 2004.

–   Adjustable-rate loan fundings totaled $15 billion for the month, an increase of 59 percent over January 2004, but a decline of 18 percent from December 2004.

–   Monthly home equity loan fundings increased over January 2004 by 75 percent to reach $2.7 billion, but was a decline of 13 percent from the prior month.

–   Subprime loan volume for January was $3.9 billion, an increase of 92 percent over January 2004, but fell by 11 percent from December 2004.

•   Average daily mortgage application activity for the month of January rose by 6 percent over the previous month to reach $2.1 billion, and was 19 percent higher than the level at January 2004.

•   The mortgage loan pipeline was $48 billion, up 25 percent from January 2004, and was essentially unchanged from December 2004’s level.

•   The mortgage servicing portfolio rose to $867 billion, up $209 billion, or 32 percent, over January 2004.

•   Monthly securities trading volume of $248 billion was 29 percent greater than January 2004’s level, but was down 5 percent from December 2004 due to fewer working days. On an average daily basis, securities trading volume actually rose by 10 percent over last month.

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2-2-2

•   Total assets at Countrywide Bank continued to climb, reaching $43 billion, an increase of 6 percent over last month and 113 percent more than January 2004.

•   Monthly net earned premiums at Balboa of $69 million were flat compared to last month, and were 1 percent greater than January 2004.

•   Subservicing volume at Global Home Loans was $116 billion, up 6 percent over January 2004.

“Countrywide began 2005 with solid operational performance across all business segments,” said Stanford L. Kurland, President and Chief Operating Officer. “Activity on an average daily basis compares well to the prior month’s performance, and in several areas exceeded those levels. The Fannie Mae 30-year fixed rate MBS coupon has fallen since the end of 2004, which resulted in increased mortgage application activity for the month of January. The mortgage servicing portfolio, which reached a new record level at $867 billion, has also been the beneficiary of continued high production levels, as well as increased bulk servicing acquisition opportunities. This included the addition of $8.5 billion this month as industry consolidation takes hold. Inside Mortgage Finance re-affirmed Countrywide as the #1 mortgage originator and servicer for 2004. Operational results for the month were rounded out by the diversified businesses, led by strong growth in assets at Countrywide Bank. Also of note, securities trading volume in Capital Markets increased on an average daily basis despite mortgage fundings being down. In addition, the Commercial Real Estate Group funded $247 million in loans.”

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.

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COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
OPERATING STATISTICS⁽¹⁾
(Dollars in Millions)

	Month Ended						Year-to-Date
	January 31,			January 31,			January 31,
	2005			2004			2005
LOAN PRODUCTION
Number of Working Days in the Period		19			20			19
Average Daily Mortgage Loan Applications	$	2,107		$	1,776		$	2,107
Mortgage Loan Pipeline (loans-in-process)	$	47,842		$	38,354
Commercial Real Estate Loan Pipeline (loans-in-process)	$	233		$	—
Loan Fundings:
Consumer Markets Division	$	8,147		$	6,211		$	8,147
Wholesale Lending Division		5,177			3,844			5,177
Correspondent Lending Division		10,254			8,240			10,254
Total Mortgage Banking		23,578			18,295			23,578
Capital Markets		2,190			1,013			2,190
Treasury Bank (2)		2,477			1,312			2,477
Total Mortgage Loan Fundings		28,245			20,620			28,245
Commercial Real Estate Fundings		247			—			247
Total Loan Fundings	$	28,492		$	20,620		$	28,492
Loan Fundings in Units:
Consumer Markets Division		53,993			49,154			53,993
Wholesale Lending Division		26,805			22,685			26,805
Correspondent Lending Division		57,064			49,694			57,064
Total Mortgage Banking		137,862			121,533			137,862
Capital Markets		10,673			4,680			10,673
Treasury Bank (2)		19,904			14,681			19,904
Total Mortgage Loan Fundings in Units		168,439			140,894			168,439
Commercial Real Estate Units		6			—			6
Total Loan Fundings in Units		168,445			140,894			168,445
Mortgage Loan Fundings:
Purchase (3)	$	12,666		$	9,274		$	12,666
Non-purchase (3)		15,579			11,346			15,579
Total Mortgage Loan Fundings	$	28,245		$	20,620		$	28,245
Mortgage Loan Fundings by Product:
Government Fundings	$	646		$	1,161		$	646
ARM Fundings	$	15,080		$	9,478		$	15,080
Home Equity Fundings	$	2,732		$	1,564		$	2,732
Subprime Fundings	$	3,851		$	2,009		$	3,851
MORTGAGE LOAN SERVICING (4)
Volume	$	866,665		$	657,541
Units		6,388,677			5,162,726
Subservicing Volume (5)	$	22,712		$	15,871
Subservicing Units		211,025			166,923
Prepayments in Full	$	12,408		$	9,387		$	12,408
Bulk Servicing Acquisitions	$	8,475		$	3,706		$	8,475
Portfolio Delinquency (%) — CHL (6)		3.89	%		3.71	%
Foreclosures Pending (%) — CHL (6)		0.45	%		0.43	%

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COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
OPERATING STATISTICS⁽¹⁾
(Dollars in Millions)

	Month Ended						Year-to-Date
	January 31,			January 31,			January 31,
	2005			2004			2005
LOAN CLOSING SERVICES (units)
Credit Reports		695,173			533,055			695,173
Flood Determinations		233,500			181,697			233,500
Appraisals		68,309			44,146			68,309
Automated Property Valuation Services		496,469			333,803			496,469
Other		16,027			14,750			16,027
Total Units		1,509,478			1,107,451			1,509,478
CAPITAL MARKETS
Securities Trading Volume (7)	$	248,216		$	192,618		$	248,216
BANKING
Assets Held by Treasury Bank (in billions)	$	43.3		$	20.3
INSURANCE
Net Premiums Earned:
Carrier	$	55		$	56		$	55
Reinsurance		14			12			14
Total Net Premiums Earned	$	69		$	68		$	69
GLOBAL OPERATIONS
Global Home Loans Subservicing
Volume (in billions)	$	116		$	109
Period-end Rates
10-Year U.S. Treasury Yield		4.14	%		4.16	%
FNMA 30-Year Fixed Rate MBS Coupon		5.12	%		5.19	%

(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 loans held for sale, loans held for investment, and loans serviced under subservicing agreements for others.
(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-99.2

EXHIBIT 99.2

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
ROLLING THIRTEEN MONTH STATISTICAL DATA
(Dollars in millions)

	Jan-04			Feb-04			Mar-04			Apr-04			May-04			Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			YTD
LOAN PRODUCTION
Number of Working Days in the Period		20			19			23			22			20			22			21			22			21			21			21			22			19			19
Average Daily Mortgage Loan Applications	$	1,776		$	1,968		$	2,455		$	2,041		$	1,945		$	1,905		$	2,006		$	2,051		$	2,098		$	1,991		$	2,010		$	1,983		$	2,107		$	2,107
Mortgage Loan Pipeline (loans-in-process)	$	38,354		$	43,760		$	57,422		$	54,836		$	49,675		$	47,317		$	48,142		$	50,024		$	50,887		$	51,990		$	50,638		$	47,768		$	47,842
Commercial Real Estate Loan Pipeline (loans-in-process)		—			—			—			—			—			—		$	7		$	72		$	109		$	229		$	327		$	308		$	233
Loan Fundings:
Consumer Markets Division	$	6,211		$	7,326		$	9,522		$	11,115		$	9,815		$	9,804		$	8,841		$	9,288		$	9,164		$	9,666		$	10,183		$	10,440		$	8,147		$	8,147
Wholesale Lending Division		3,844			4,801			6,993			7,727			6,208			5,913			5,376			6,102			5,881			6,236			6,775			6,992			5,177			5,177
Correspondent Lending Division		8,240			8,518			12,029			14,362			11,986			11,560			10,405			11,152			10,810			9,846			11,594			13,086			10,254			10,254
Total Mortgage Banking		18,295			20,645			28,544			33,204			28,009			27,277			24,622			26,542			25,855			25,748			28,552			30,518			23,578			23,578
Capital Markets		1,013			1,046			1,265			494			1,875			2,230			2,396			1,592			2,123			729			1,082			2,234			2,190			2,190
Treasury Bank (1)		1,312			1,582			2,502			2,147			1,931			2,496			2,686			2,988			3,020			2,740			1,734			1,978			2,477			2,477
Total Mortgage Loan Fundings		20,620			23,273			32,311			35,845			31,815			32,003			29,704			31,122			30,998			29,217			31,368			34,730			28,245			28,245
Commercial Real Estate Fundings		—			—			—			—			—			—			—			—			3			48			126			181			247			247
Total Loan Fundings	$	20,620		$	23,273		$	32,311		$	35,845		$	31,815		$	32,003		$	29,704		$	31,122		$	31,001		$	29,265		$	31,494		$	34,911		$	28,492		$	28,492
Loan Fundings in Units:
Consumer Markets Division		49,154			54,962			68,664			75,880			68,759			69,912			63,813			67,019			64,123			67,098			75,600			72,025			53,993			53,993
Wholesale Lending Division		22,685			27,880			39,820			42,114			34,247			33,270			30,710			34,422			32,818			33,390			37,491			38,476			26,805			26,805
Correspondent Lending Division		49,694			50,250			67,815			77,570			65,425			65,668			60,992			64,659			60,219			55,413			68,947			74,305			57,064			57,064
Total Mortgage Banking		121,533			133,092			176,299			195,564			168,431			168,850			155,515			166,100			157,160			155,901			182,038			184,806			137,862			137,862
Capital Markets		4,680			3,491			5,114			1,463			6,740			8,486			9,949			6,948			10,288			2,868			4,523			9,665			10,673			10,673
Treasury Bank (1)		14,681			16,760			23,351			21,909			21,779			26,627			26,236			28,829			28,736			28,081			8,862			13,389			19,904			19,904
Total Mortgage Loan Fundings in Units		140,894			153,343			204,764			218,936			196,950			203,963			191,700			201,877			196,184			186,850			195,423			207,860			168,439			168,439
Commercial Real Estate Units		—			—			—			—			—			—			—			—			1			6			10			13			6			6
Total Loan Fundings in Units		140,894			153,343			204,764			218,936			196,950			203,963			191,700			201,877			196,185			186,856			195,433			207,873			168,445			168,445
Mortgage Loan Fundings:
Purchase (2)	$	9,274		$	9,226		$	13,127		$	13,883		$	14,575		$	17,491		$	17,541		$	17,797		$	17,001		$	14,884		$	15,154		$	16,533		$	12,666		$	12,666
Non-purchase (2)		11,346			14,047			19,184			21,962			17,240			14,512			12,163			13,325			13,997			14,333			16,214			18,197			15,579			15,579
Total Mortgage Loan Fundings	$	20,620		$	23,273		$	32,311		$	35,845		$	31,815		$	32,003		$	29,704		$	31,122		$	30,998		$	29,217		$	31,368		$	34,730		$	28,245		$	28,245
Mortgage Loan Fundings by Product:
Government Fundings	$	1,161		$	1,117		$	1,530		$	1,491		$	1,235		$	1,119		$	1,039		$	961		$	934		$	832		$	953		$	875		$	646		$	646
ARM Fundings	$	9,478		$	10,293		$	13,872		$	15,739		$	15,745		$	17,259		$	17,021		$	18,278		$	21,026		$	16,341		$	16,422		$	18,457		$	15,080		$	15,080
Home Equity Fundings	$	1,564		$	1,637		$	2,088		$	2,242		$	2,272		$	2,787		$	2,838		$	3,056		$	3,164		$	3,036		$	3,061		$	3,148		$	2,732		$	2,732
Subprime Fundings	$	2,009		$	2,124		$	2,759		$	2,765		$	3,044		$	3,745		$	3,785		$	4,275		$	3,894		$	3,276		$	3,459		$	4,306		$	3,851		$	3,851
MORTGAGE LOAN SERVICING (3)
Volume	$	657,541		$	669,076		$	682,848		$	693,768		$	706,943		$	726,227		$	746,905		$	765,342		$	785,992		$	805,922		$	821,287		$	838,322		$	866,665
Units		5,162,726			5,234,634			5,313,058			5,372,526			5,443,555			5,547,050			5,668,620			5,773,837			5,889,950			6,018,496			6,113,193			6,196,487			6,388,677
Subservicing Volume (4)	$	15,871		$	15,548		$	15,307		$	15,028		$	15,289		$	16,027		$	16,843		$	16,312		$	17,861		$	16,869		$	17,421		$	16,847		$	22,712
Subservicing Units		166,923			163,190			166,514			163,842			163,931			163,396			172,602			169,665			174,079			171,273			174,875			171,633			211,025
Prepayments in Full	$	9,387		$	13,090		$	18,317		$	23,557		$	17,593		$	14,945		$	12,430		$	13,232		$	13,669		$	14,336		$	16,013		$	17,755		$	12,408		$	12,408
Bulk Servicing Acquisitions	$	3,706		$	3,123		$	2,349		$	1,122		$	1,563		$	1,634		$	4,187		$	4,626		$	3,399		$	8,241		$	1,870		$	4,903		$	8,475		$	8,475
Portfolio Delinquency — CHL (5)		3.71	%		3.71	%		3.20	%		3.19	%		3.49	%		3.48	%		3.51	%		3.57	%		3.73	%		3.92	%		3.85	%		3.83	%		3.89	%
Foreclosures Pending — CHL (5)		0.43	%		0.44	%		0.42	%		0.38	%		0.36	%		0.37	%		0.37	%		0.35	%		0.35	%		0.37	%		0.41	%		0.42	%		0.45	%

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COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
ROLLING THIRTEEN MONTH STATISTICAL DATA
(Dollars in millions)

	Jan-04			Feb-04			Mar-04			Apr-04			May-04			Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		533,055			547,704			738,113			626,142			574,524			631,763			630,223			677,931			657,661			660,351			634,685			580,363			695,173			695,173
Flood Determinations		181,697			188,150			267,378			236,776			214,494			239,522			243,241			265,888			239,230			237,386			235,665			247,978			233,500			233,500
Appraisals		44,146			51,425			69,074			65,975			58,912			59,839			62,732			74,314			78,118			77,388			80,253			82,114			68,309			68,309
Automated Property Valuation Services		333,803			356,077			439,015			473,601			456,663			480,364			467,030			480,329			463,760			477,592			508,451			496,643			496,469			496,469
Other		14,750			14,218			16,379			16,058			13,583			15,332			13,252			13,324			13,678			14,430			15,895			17,119			16,027			16,027
Total Units		1,107,451			1,157,574			1,529,959			1,418,552			1,318,176			1,426,820			1,416,478			1,511,786			1,452,447			1,467,147			1,474,949			1,424,217			1,509,478			1,509,478
CAPITAL MARKETS
Securities Trading Volume (6)	$	192,618		$	221,082		$	276,738		$	274,862		$	292,116		$	314,599		$	266,645		$	240,678		$	287,475		$	239,128		$	260,065		$	260,666		$	248,216		$	248,216
BANKING
Assets Held by Treasury Bank (in billions)	$	20.3		$	21.8		$	23.7		$	24.9		$	25.6		$	27.2		$	28.6		$	30.9		$	33.9		$	36.4		$	38.8		$	41.0		$	43.3
INSURANCE
Net Premiums Earned:
Carrier	$	56		$	52		$	50		$	50		$	48		$	51		$	54		$	51		$	50		$	54		$	54		$	55		$	55		$	55
Reinsurance		12			13			12			13			13			13			13			13			14			14			13			14			14			14
Total Net Premiums Earned	$	68		$	65		$	62		$	63		$	61		$	64		$	67		$	64		$	64		$	68		$	67		$	69		$	69		$	69
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	109		$	112		$	111		$	108		$	111		$	110		$	110		$	109		$	110		$	112		$	117		$	118		$	116
Workforce Head Count: (7)
Loan Originations		19,020			19,395			20,560			21,696			22,400			23,035			23,114			23,680			24,334			24,899			25,203			25,071			25,162
Loan Servicing		6,017			5,870			5,802			5,828			5,864			5,908			5,910			5,920			5,961			6,079			6,202			6,331			6,225
Loan Closing Services		914			925			899			938			993			1,019			1,049			1,072			1,100			1,113			1,123			1,146			1,171
Insurance		1,781			1,768			1,762			1,809			1,822			1,826			1,854			1,845			1,881			1,880			1,880			1,899			1,890
Capital Markets		484			491			494			513			517			529			540			554			559			566			564			569			569
Global Operations		1,899			1,948			1,993			1,961			1,965			1,955			1,929			1,942			1,935			1,949			1,877			1,846			1,806
Banking		799			819			845			888			956			1,003			1,015			1,083			1,164			1,184			1,213			1,213			1,508
Corporate Overhead & Other		3,347			3,366			3,389			3,441			3,529			3,660			3,814			3,889			4,001			4,033			4,102			4,066			4,075
Total Workforce Head Count		34,261			34,582			35,744			37,074			38,046			38,935			39,225			39,985			40,935			41,703			42,164			42,141			42,406
Period-end Rates
10-Year U.S. Treasury Yield		4.16	%		3.99	%		3.86	%		4.53	%		4.66	%		4.62	%		4.50	%		4.13	%		4.14	%		4.05	%		4.36	%		4.24	%		4.14	%
FNMA 30-Year Fixed Rate MBS Coupon		5.19	%		5.00	%		4.94	%		5.59	%		5.75	%		5.59	%		5.48	%		5.16	%		5.23	%		5.11	%		5.27	%		5.21	%		5.12	%

(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 loans held for sale, loans held for investment, and loans serviced under subservicing agreements for others.
(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.

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