e8vk

Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended February 28, 2005.

Thirteen-month statistical data report made available by the Company on its website.

0000950129-05-002096.txt : 20050308 0000950129-05-002096.hdr.sgml : 20050308 20050308155605 ACCESSION NUMBER: 0000950129-05-002096 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20050308 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050308 DATE AS OF CHANGE: 20050308 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: 05666875 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 v06549e8vk.htm COUNTRYWIDE FINANCIAL CORPORATION - MARCH 8, 2005 e8vk

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): March 8, 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 March 8, 2005, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended February 28, 2005, a copy of which is attached as Exhibit 99.1. On March 8, 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

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: March 7, 2005 /s/ Laura Milleman
Laura Milleman
Senior Managing Director and Chief Accounting Officer

EX-99.1 2 v06549exv99w1.htm EXHIBIT 99.1 exv99w1

EXHIBIT 99.1


NEWS

INVESTOR CONTACT: (818) 225-3550

David Bigelow or Lisa Riordan

MEDIA CONTACT: (800)796-8448

For Immediate Release

COUNTRYWIDE REPORTS FEBRUARY 2005 OPERATIONAL DATA
– MORTGAGE LOAN PIPELINE INCREASES TO $55 BILLION –
– SERVICING PORTFOLIO REACHES $878 BILLION –
– TOTAL ASSETS AT COUNTRYWIDE BANK CLIMB TO $46 BILLION –

CALABASAS, CA (March 8, 2005) – Countrywide Financial Corporation (NYSE: CFC), a diversified financial services provider, released operational data for the month ended February 28, 2005. Highlights included the following:

• Mortgage loan fundings declined by 5 percent from January to $27 billion, but were 16 percent higher than February 2004.

— Monthly purchase volume of $12 billion was 5 percent less than the prior month but 31 percent greater than February 2004.

— Adjustable-rate loan fundings were $14 billion, a decline of 7 percent from last month, but rose 37 percent over February 2004.

— Monthly home equity loan fundings fell by 4 percent from last month to $2.6 billion but remained 60 percent greater than February 2004.

— Subprime loan volume fell by 32 percent from last month, primarily due to a lower level of subprime originations sourced by the Capital Markets segment, but remained 23 percent greater than February 2004. Excluding Capital Markets activity, subprime loan volume fell by 4 percent from January 2005.

•   Average daily mortgage application activity for the month of February rose by 11 percent over last month to reach $2.3 billion, and was 18 percent more than February 2004. Accordingly, the mortgage loan pipeline increased to $55 billion at February month-end, an increase of 14 percent over January 2005 and 25 percent greater than February 2004.

•   The mortgage servicing portfolio reached $878 billion, an increase of $209 billion, or 31 percent, over February 2004.

•   Monthly securities trading volume was $256 billion, rising 3 percent over last month and up 16 percent over February 2004.

(more)


		Investor Relations
		4500 Park Granada · Calabasas, CA 91302 · 818-225-3550
		http://www.countrywide.com
		Countrywide Home Loans, Inc. and Countrywide Bank, a division of Treasury Bank, NA, are Equal Housing Lenders. ©2002 Countrywide Financial Corporation.
		Trade/service marks are the property of Countrywide Financial Corporation and/or its subsidiaries. All rights reserved.

2-2-2

•   Total assets at Countrywide Bank reached $46 billion, advancing 6 percent over last month and more than double the level at February 2004.

•   Monthly net earned premiums at Balboa were $64 million, a decline of 7 percent from last month and 2 percent less than February 2004. Lower earned premiums resulted from volatility in the lender-placed business, as both voluntary earned premiums at Balboa L&C and earned premiums at Balboa Re increased over the prior month.

•   Subservicing volume at Global Home Loans was $118 billion, an increase of 5 percent over February 2004.

“Production volume for the month of February was representative of seasonal trends and a modest rise in interest rates from the preceding months,” said Stanford L. Kurland, President and Chief Operating Officer. “However, a temporary drop in the 10-year U.S. Treasury yield to 4.0 percent during the month spurred a higher level of refinance application activity, evidenced by an increase in the MBA refinance application index, which surpassed the 2500 mark by mid-February, its highest level since April 2004. Accordingly, Countrywide’s average daily application volume for the month increased, and the mortgage loan pipeline grew by 14 percent compared to January to reach $55 billion at month-end. It’s noteworthy that January and February had 19 business days whereas March will have 23 business days. The servicing portfolio continued to expand, reaching $878 billion, and is poised to exceed the $1 trillion level before year-end 2005. Diversified businesses rounded out our operational activities, led by growth in assets at Countrywide Bank to $46 billion and $256 billion in securities trading volume by the Capital Markets segment.”

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)


		Investor Relations
		4500 Park Granada · Calabasas, CA 91302 · 818-225-3550
		http://www.countrywide.com
		Countrywide Home Loans, Inc. and Countrywide Bank, a division of Treasury Bank, NA, are Equal Housing Lenders. ©2002 Countrywide Financial Corporation.
		Trade/service marks are the property of Countrywide Financial Corporation and/or its subsidiaries. All rights reserved.

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


	Month Ended						Year-to-Date
	February 28,			February 29,			February 28,
	2005			2004			2005
LOAN PRODUCTION
Number of Working Days in the Period		19			19			38
Average Daily Mortgage Loan Applications	$	2,329		$	1,968		$	2,218
Mortgage Loan Pipeline (loans-in-process)	$	54,774		$	43,760
Commercial Real Estate Loan Pipeline (loans-in-process)	$	308		$	—

Loan Fundings:
Consumer Markets Division	$	8,520		$	7,326		$	16,667
Wholesale Lending Division		5,378			4,801			10,555
Correspondent Lending Division		9,648			8,518			19,902

Total Mortgage Banking		23,546			20,645			47,124
Capital Markets		1,050			1,046			3,240
Treasury Bank ⁽²⁾		2,310			1,582			4,787

Total Mortgage Loan Fundings		26,906			23,273			55,151
Commercial Real Estate Fundings		226			—			473

Total Loan Fundings	$	27,132		$	23,273		$	55,624


Loan Fundings in Units:
Consumer Markets Division		56,651			54,962			110,644
Wholesale Lending Division		27,846			27,880			54,651
Correspondent Lending Division		51,625			50,250			108,689

Total Mortgage Banking		136,122			133,092			273,984
Capital Markets		3,582			3,491			14,255
Treasury Bank ⁽²⁾		19,969			16,760			39,873

Total Mortgage Loan Fundings in Units		159,673			153,343			328,112
Commercial Real Estate Units		11			—			17

Total Loan Fundings in Units		159,684			153,343			328,129


Mortgage Loan Fundings:
Purchase ⁽³⁾	$	12,052		$	9,226		$	24,698
Non-purchase ⁽³⁾		14,854			14,047			30,453

Total Mortgage Loan Fundings	$	26,906		$	23,273		$	55,151


Mortgage Loan Fundings by Product:
Government Fundings	$	695		$	1,117		$	1,341
ARM Fundings	$	14,081		$	10,293		$	29,161
Home Equity Fundings	$	2,618		$	1,637		$	5,350
Subprime Fundings	$	2,605		$	2,124		$	6,456

MORTGAGE LOAN SERVICING ⁽⁴⁾
Volume	$	878,270		$	669,076
Units		6,450,135			5,234,634
Subservicing Volume ⁽⁵⁾	$	21,389		$	15,548
Subservicing Units		212,654			163,190
Prepayments in Full	$	11,790		$	13,090		$	24,198
Bulk Servicing Acquisitions	$	4,136		$	3,123		$	12,611
Portfolio Delinquency (%) — CHL⁽⁶⁾		3.74	%		3.71	%
Foreclosures Pending (%) — CHL⁽⁶⁾		0.45	%		0.44	%

(more)

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


	Month Ended						Year-to-Date
	February 28,			Febuary 29,			February 28,
	2005			2004			2005
LOAN CLOSING SERVICES (units)
Credit Reports		696,309			547,704			1,391,482
Flood Determinations		260,748			188,150			494,248
Appraisals		76,441			51,425			144,750
Automated Property Valuation Services		508,279			356,077			1,004,748
Other		15,337			14,218			31,364

Total Units		1,557,114			1,157,574			3,066,592


CAPITAL MARKETS
Securities Trading Volume⁽⁷⁾	$	256,305		$	221,082		$	504,521

BANKING
Assets Held by Treasury Bank (in billions)	$	45.9		$	21.8

INSURANCE
Net Premiums Earned:
Carrier	$	49		$	52		$	104
Reinsurance		15			13			29

Total Net Premiums Earned	$	64		$	65		$	133


GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	118		$	112

Period-end Rates
10-Year U.S. Treasury Yield		4.36	%		3.99	%
FNMA 30-Year Fixed Rate MBS Coupon		5.34	%		5.00	%

⁽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 3 v06549exv99w2.htm EXHIBIT 99.2 exv99w2

EXHIBIT 99.2

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


	Feb-04			Mar-04			Apr-04			May-04			Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			Feb-05			YTD
LOAN PRODUCTION
Number of Working Days in the Period		19			23			22			20			22			21			22			21			21			21			22			19			19			38
Average Daily Mortgage Loan Applications	$	1,968		$	2,455		$	2,041		$	1,945		$	1,905		$	2,006		$	2,051		$	2,098		$	1,991		$	2,010		$	1,983		$	2,107		$	2,329		$	2,218
Mortgage Loan Pipeline (loans-in-process)	$	43,760		$	57,422		$	54,836		$	49,675		$	47,317		$	48,142		$	50,024		$	50,887		$	51,990		$	50,638		$	47,768		$	47,842		$	54,774
Commercial Real Estate Loan Pipeline (loans-in-process)		—			—			—			—			—		$	7		$	72		$	109		$	229		$	327		$	308		$	233		$	308

Loan Fundings:
Consumer Markets Division	$	7,326		$	9,522		$	11,115		$	9,815		$	9,804		$	8,841		$	9,288		$	9,164		$	9,666		$	10,183		$	10,440		$	8,147		$	8,520		$	16,667
Wholesale Lending Division		4,801			6,993			7,727			6,208			5,913			5,376			6,102			5,881			6,236			6,775			6,992			5,177			5,378			10,555
Correspondent Lending Division		8,518			12,029			14,362			11,986			11,560			10,405			11,152			10,810			9,846			11,594			13,086			10,254			9,648			19,902

Total Mortgage Banking		20,645			28,544			33,204			28,009			27,277			24,622			26,542			25,855			25,748			28,552			30,518			23,578			23,546			47,124
Capital Markets		1,046			1,265			494			1,875			2,230			2,396			1,592			2,123			729			1,082			2,234			2,190			1,050			3,240
Treasury Bank (1)		1,582			2,502			2,147			1,931			2,496			2,686			2,988			3,020			2,740			1,734			1,978			2,477			2,310			4,787

Total Mortgage Loan Fundings		23,273			32,311			35,845			31,815			32,003			29,704			31,122			30,998			29,217			31,368			34,730			28,245			26,906			55,151
Commercial Real Estate Fundings		—			—			—			—			—			—			—			3			48			126			181			247			226			473

Total Loan Fundings	$	23,273		$	32,311		$	35,845		$	31,815		$	32,003		$	29,704		$	31,122		$	31,001		$	29,265		$	31,494		$	34,911		$	28,492		$	27,132		$	55,624

Loan Fundings in Units:
Consumer Markets Division		54,962			68,664			75,880			68,759			69,912			63,813			67,019			64,123			67,098			75,600			72,025			53,993			56,651			110,644
Wholesale Lending Division		27,880			39,820			42,114			34,247			33,270			30,710			34,422			32,818			33,390			37,491			38,476			26,805			27,846			54,651
Correspondent Lending Division		50,250			67,815			77,570			65,425			65,668			60,992			64,659			60,219			55,413			68,947			74,305			57,064			51,625			108,689

Total Mortgage Banking		133,092			176,299			195,564			168,431			168,850			155,515			166,100			157,160			155,901			182,038			184,806			137,862			136,122			273,984
Capital Markets		3,491			5,114			1,463			6,740			8,486			9,949			6,948			10,288			2,868			4,523			9,665			10,673			3,582			14,255
Treasury Bank (1)		16,760			23,351			21,909			21,779			26,627			26,236			28,829			28,736			28,081			8,862			13,389			19,904			19,969			39,873

Total Mortgage Loan Fundings in Units		153,343			204,764			218,936			196,950			203,963			191,700			201,877			196,184			186,850			195,423			207,860			168,439			159,673			328,112
Commercial Real Estate Units		—			—			—			—			—			—			—			1			6			10			13			6			11			17

Total Loan Fundings in Units		153,343			204,764			218,936			196,950			203,963			191,700			201,877			196,185			186,856			195,433			207,873			168,445			159,684			328,129

Mortgage Loan Fundings:
Purchase (2)	$	9,226		$	13,127		$	13,883		$	14,575		$	17,491		$	17,541		$	17,797		$	17,001		$	14,884		$	15,154		$	16,533		$	12,666		$	12,052		$	24,718
Non-purchase (2)		14,047			19,184			21,962			17,240			14,512			12,163			13,325			13,997			14,333			16,214			18,197			15,579			14,854			30,433

Total Mortgage Loan Fundings	$	23,273		$	32,311		$	35,845		$	31,815		$	32,003		$	29,704		$	31,122		$	30,998		$	29,217		$	31,368		$	34,730		$	28,245		$	26,906		$	55,151

Mortgage Loan Fundings by Product:
Government Fundings	$	1,117		$	1,530		$	1,491		$	1,235		$	1,119		$	1,039		$	961		$	934		$	832		$	953		$	875		$	646		$	695		$	1,341
ARM Fundings	$	10,293		$	13,872		$	15,739		$	15,745		$	17,259		$	17,021		$	18,278		$	21,026		$	16,341		$	16,422		$	18,457		$	15,080		$	14,081		$	29,161
Home Equity Fundings	$	1,637		$	2,088		$	2,242		$	2,272		$	2,787		$	2,838		$	3,056		$	3,164		$	3,036		$	3,061		$	3,148		$	2,732		$	2,618		$	5,350
Subprime Fundings	$	2,124		$	2,759		$	2,765		$	3,044		$	3,745		$	3,785		$	4,275		$	3,894		$	3,276		$	3,459		$	4,306		$	3,851		$	2,605		$	6,456

MORTGAGE LOAN SERVICING (3)
Volume	$	669,076		$	682,848		$	693,768		$	706,943		$	726,227		$	746,905		$	765,342		$	785,992		$	805,922		$	821,287		$	838,322		$	866,665		$	878,270
Units		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			6,450,135

Subservicing Volume (4)	$	15,548		$	15,307		$	15,028		$	15,289		$	16,027		$	16,843		$	16,312		$	17,861		$	16,869		$	17,421		$	16,847		$	22,712		$	21,389
Subservicing Units		163,190			166,514			163,842			163,931			163,396			172,602			169,665			174,079			171,273			174,875			171,633			211,025			212,654

Prepayments in Full	$	13,090		$	18,317		$	23,557		$	17,593		$	14,945		$	12,430		$	13,232		$	13,669		$	14,336		$	16,013		$	17,755		$	12,408		$	11,790		$	24,198
Bulk Servicing Acquisitions	$	3,123		$	2,349		$	1,122		$	1,563		$	1,634		$	4,187		$	4,626		$	3,399		$	8,241		$	1,870		$	4,903		$	8,475		$	4,136		$	12,611

Portfolio Delinquency — CHL (5)		3.71	%		3.20	%		3.19	%		3.49	%		3.48	%		3.51	%		3.57	%		3.73	%		3.92	%		3.85	%		3.83	%		3.89	%		3.74	%
Foreclosures Pending — CHL (5)		0.44	%		0.42	%		0.38	%		0.36	%		0.37	%		0.37	%		0.35	%		0.35	%		0.37	%		0.41	%		0.42	%		0.45	%		0.45	%
													(more)

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


	Feb-04			Mar-04			Apr-04			May-04			Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			Feb-05			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		547,704			738,113			626,142			574,524			631,763			630,223			677,931			657,661			660,351			634,685			580,363			695,173			696,309			1,391,482
Flood Determinations		188,150			267,378			236,776			214,494			239,522			243,241			265,888			239,230			237,386			235,665			247,978			233,500			260,748			494,248
Appraisals		51,425			69,074			65,975			58,912			59,839			62,732			74,314			78,118			77,388			80,253			82,114			68,309			76,441			144,750
Automated Property Valuation Services		356,077			439,015			473,601			456,663			480,364			467,030			480,329			463,760			477,592			508,451			496,643			496,469			508,279			1,004,748
Other		14,218			16,379			16,058			13,583			15,332			13,252			13,324			13,678			14,430			15,895			17,119			16,027			15,337			31,364

Total Units		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			1,557,114			3,066,592

CAPITAL MARKETS
Securities Trading Volume (6)	$	221,082		$	276,738		$	274,862		$	292,116		$	314,599		$	266,645		$	240,678		$	287,475		$	239,128		$	260,065		$	260,666		$	248,216		$	256,305		$	504,521

BANKING
Assets Held by Treasury Bank (in billions)	$	21.8		$	23.7		$	24.9		$	25.6		$	27.2		$	28.6		$	30.9		$	33.9		$	36.4		$	38.8		$	41.0		$	43.3		$	45.9

INSURANCE
Net Premiums Earned:
Carrier	$	52		$	50		$	50		$	48		$	51		$	54		$	51		$	50		$	54		$	54		$	55		$	55		$	49		$	104
Reinsurance		13			12			13			13			13			13			13			14			14			13			14			14			15			29

Total Net Premiums Earned	$	65		$	62		$	63		$	61		$	64		$	67		$	64		$	64		$	68		$	67		$	69		$	69		$	64		$	133

GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	112		$	111		$	108		$	111		$	110		$	110		$	109		$	110		$	112		$	117		$	118		$	116		$	118

Workforce Head Count: (7)
Loan Originations		19,395			20,560			21,696			22,400			23,035			23,114			23,680			24,334			24,899			25,203			25,071			25,162			25,183
Loan Servicing		5,870			5,802			5,828			5,864			5,908			5,910			5,920			5,961			6,079			6,202			6,331			6,225			6,259
Loan Closing Services		925			899			938			993			1,019			1,049			1,072			1,100			1,113			1,123			1,146			1,171			1,221
Insurance		1,768			1,762			1,809			1,822			1,826			1,854			1,845			1,881			1,880			1,880			1,899			1,890			1,913
Capital Markets		491			494			513			517			529			540			554			559			566			564			569			569			579
Global Operations		1,948			1,993			1,961			1,965			1,955			1,929			1,942			1,935			1,949			1,877			1,846			1,806			1,743
Banking		819			845			888			956			1,003			1,015			1,083			1,164			1,184			1,213			1,213			1,508			1,562
Corporate Overhead & Other		3,366			3,389			3,441			3,529			3,660			3,814			3,889			4,001			4,033			4,102			4,066			4,075			4,059

Total Workforce Head Count		34,582			35,744			37,074			38,046			38,935			39,225			39,985			40,935			41,703			42,164			42,141			42,406			42,519

Period-end Rates
10-Year U.S. Treasury Yield		3.99	%		3.86	%		4.53	%		4.66	%		4.62	%		4.50	%		4.13	%		4.14	%		4.05	%		4.36	%		4.24	%		4.14	%		4.36	%
FNMA 30-Year Fixed Rate MBS Coupon		5.00	%		4.94	%		5.59	%		5.75	%		5.59	%		5.48	%		5.16	%		5.23	%		5.11	%		5.27	%		5.21	%		5.12	%		5.34	%

(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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	¨	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))


	COUNTRYWIDE FINANCIAL CORPORATION
Dated: March 7, 2005	/s/ Laura Milleman
	Laura Milleman
	Senior Managing Director and Chief Accounting Officer

	—	Monthly purchase volume of $12 billion was 5 percent less than the prior month but 31 percent greater than February 2004.

	—	Adjustable-rate loan fundings were $14 billion, a decline of 7 percent from last month, but rose 37 percent over February 2004.

	—	Monthly home equity loan fundings fell by 4 percent from last month to $2.6 billion but remained 60 percent greater than February 2004.

	—	Subprime loan volume fell by 32 percent from last month, primarily due to a lower level of subprime originations sourced by the Capital Markets segment, but remained 23 percent greater than February 2004. Excluding Capital Markets activity, subprime loan volume fell by 4 percent from January 2005.

	•	Average daily mortgage application activity for the month of February rose by 11 percent over last month to reach $2.3 billion, and was 18 percent more than February 2004. Accordingly, the mortgage loan pipeline increased to $55 billion at February month-end, an increase of 14 percent over January 2005 and 25 percent greater than February 2004.

	•	The mortgage servicing portfolio reached $878 billion, an increase of $209 billion, or 31 percent, over February 2004.

	•	Monthly securities trading volume was $256 billion, rising 3 percent over last month and up 16 percent over February 2004.

	•	Total assets at Countrywide Bank reached $46 billion, advancing 6 percent over last month and more than double the level at February 2004.

	•	Monthly net earned premiums at Balboa were $64 million, a decline of 7 percent from last month and 2 percent less than February 2004. Lower earned premiums resulted from volatility in the lender-placed business, as both voluntary earned premiums at Balboa L&C and earned premiums at Balboa Re increased over the prior month.

	•	Subservicing volume at Global Home Loans was $118 billion, an increase of 5 percent over February 2004.