e8vk

0000950129-05-007071.txt : 20050714 0000950129-05-007071.hdr.sgml : 20050714 20050714171231 ACCESSION NUMBER: 0000950129-05-007071 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20050714 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050714 DATE AS OF CHANGE: 20050714 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: 05955155 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 v10624e8vk.htm COUNTRYWIDE FINANCIAL CORPORATION - JULY 14, 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): July 14, 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):


		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))

Item 2.02. Results of Operations and Financial Condition

On July 14, 2005, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended June 30, 2005, a copy of which is attached as Exhibit 99.1. On July 14, 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

99.1 Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended June 30, 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: July 14, 2005 /s/ Laura Milleman
Laura Milleman
Senior Managing Director and Chief Accounting Officer

EXHIBIT INDEX


Exhibit
No.

99.1		Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended June 30, 2005.

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

EX-99.1 2 v10624exv99w1.htm EXHIBIT 99.1 exv99w1

Exhibit 99.1


*NEWS*

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

MEDIA CONTACT: (800) 796-8448

COUNTRYWIDE REPORTS JUNE 2005 OPERATIONAL DATA
AND RE-AFFIRMS 2005 EARNINGS GUIDANCE

CALABASAS, CA (July 14, 2005) – Countrywide Financial Corporation (NYSE: CFC) released operational data for the month ended June 30, 2005. Highlights included the following:

• Mortgage loan fundings for the month of June reached $47 billion, an increase of 48 percent from June 2004. Second quarter mortgage loan volume totaled $120 billion, 21 percent greater than the second quarter of 2004. Mortgage loan production for the first half of 2005 totaled $212 billion, which was 20 percent higher than the first six months of 2004.

— Monthly purchase volume set a new record high at $24 billion in June, advancing 37 percent from June 2004. Purchase fundings for the second quarter totaled $61 billion, an increase of 32 percent from the second quarter of 2004. Year-to-date purchase volume reached $102 billion, rising 31 percent from the first six months of 2004.

— Adjustable-rate loan fundings for June rose to a new high of $26 billion, up 50 percent from June 2004. Adjustable-rate loan volume for the second quarter of $67 billion was 38 percent higher than the second quarter of 2004. Year-to-date adjustable-rate loan volume totaled $116 billion, up 41 percent from the first half of 2004.

— Monthly home equity loan fundings reached a new high of $3.9 billion in June, up 39 percent from June 2004. Second quarter home equity volume rose 51 percent from the second quarter of 2004 to reach $11 billion. Year-to-date home equity production totaled $20 billion, an increase of 57 percent from the first half of 2004.

— Nonprime loan fundings in June rose to $4.2 billion, advancing 12 percent from June 2004. Second quarter nonprime volume of $10 billion was 9 percent more than the second quarter of 2004. Year-to-date nonprime production reached $20 billion, rising 23 percent from the first six months of 2004.

— Average daily mortgage loan application activity rose to $3.0 billion in June, increasing 59 percent from June 2004. As such, the mortgage loan pipeline increased by 63 percent from last year to reach $77 billion at June 30, 2005.

(more)

Investor Relations
4500 Park Granada · Calabasas, CA 91302 · 818-225-3550
http://www.countrywide.com
(HOME) Countrywide Home Loans, Inc. and Countrywide Bank, a division of Treasury Bank, NA, are Equal Housing Lenders. ã2002 Countrywide Financial Corporation.
Trade/service marks are the property of Countrywide Financial Corporation and/or its subsidiaries. All rights reserved.

2-2-2

• The mortgage loan servicing portfolio continued to climb, rising by 33 percent, or $238 billion, from June 2004 to reach $964 billion at June 30, 2005.

• Securities trading volume at Capital Markets reached a new record high of $337 billion in June, up 7 percent from June 2004. Second quarter securities trading volume totaled $887 billion, up slightly from the second quarter of 2004. Year-to-date securities trading volume of $1.7 trillion was 9 percent greater than the first half of 2004.

• Total assets at Countrywide Bank reached $66 billion at June 30, 2005, an increase of 141 percent, or $38 billion, from June 2004.

• Monthly net earned premiums at Balboa reached a new high of $77 million in June, rising 22 percent from June 2004. Second quarter net earned premiums totaled $216 million, up 15 percent from the second quarter of 2004. Year-to-date net earned premiums of $415 million was 8 percent more than the first half of 2004.

• Subservicing volume at Global Home Loans was $109 billion at June 30, 2005, a decline of 1 percent, or $1 billion, from June 2004.

“As we close the first half of 2005, management re-affirms its previously disclosed earnings guidance of $3.60 to $4.60 per diluted share for the year, with additional information to be provided through our upcoming July 26 earnings release and teleconference,” said Stanford L. Kurland, President and Chief Operating Officer. “The second quarter of 2005 was characterized by falling long-term interest rates which created a robust mortgage origination environment. High funding volume during the quarter created significant economic value, not all of which will be reflected in second quarter earnings as a substantial portion of this production was retained in portfolio. In support of record quarterly Bank asset growth, $15.7 billion in loans produced were retained at the Bank rather than sold, compared to $8.5 billion that was retained by the Bank last quarter. This represents a sequential quarter increase of $7.2 billion. An additional $1.8 billion in home equity loans produced in the quarter were held in the mortgage banking company’s inventory at quarter-end. Had these $9.0 billion in loans been sold during the quarter, management estimates that an incremental pre-tax gain of approximately $150 million would have been recognized.

“While second quarter results are not yet finalized and various other factors may also affect quarterly results, we believe that this increased loan retention will result in second quarter earnings that are not reflective of current market expectations. As always, Countrywide management continually assesses the balance of loans sold and retained, and this balance is subject to change in future periods.”

(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. Mortgage banking businesses include loan production and loan servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services prime and nonprime 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 Insurance 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; changes in general business, economic, market and political conditions in the United States and abroad from those expected; 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; changes in interest rate paths; changes in the legal, regulatory and legislative environments in the markets in which the Company operates; and other risks noted 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)

4-4-4

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


	Month Ended						Year-to-Date
	June 30,			June 30,			June 30,
	2005			2004			2005
LOAN PRODUCTION
Number of Working Days in the Period		22			22			125
Average Daily Mortgage Loan Applications	$	3,029		$	1,905		$	2,539
Mortgage Loan Pipeline (loans-in-process)	$	77,009		$	47,317
Commercial Real Estate Loan Pipeline (loans-in-process)	$	502		$	—

Loan Fundings:
Consumer Markets Division	$	13,583		$	9,804		$	64,507
Wholesale Lending Division		7,492			5,913			36,970
Correspondent Lending Division		18,396			11,560			78,426

Total Mortgage Banking		39,471			27,277			179,903
Capital Markets		1,784			2,230			7,316
Treasury Bank ⁽²⁾		6,011			2,496			24,588

Total Mortgage Loan Fundings		47,266			32,003			211,807
Commercial Real Estate Fundings		285			—			1,296

Total Loan Fundings	$	47,551		$	32,003		$	213,103


Loan Fundings in Units:
Consumer Markets Division		75,774			69,912			391,498
Wholesale Lending Division		34,497			33,270			185,208
Correspondent Lending Division		89,416			65,668			401,324

Total Mortgage Banking		199,687			168,850			978,030
Capital Markets		7,183			8,486			30,307
Treasury Bank ⁽²⁾		45,933			26,627			198,019

Total Mortgage Loan Fundings in Units		252,803			203,963			1,206,356
Commercial Real Estate Units		31			—			89

Total Loan Fundings in Units		252,834			203,963			1,206,445


Mortgage Loan Fundings:
Purchase ⁽³⁾	$	24,023		$	17,491		$	101,915
Non-purchase ⁽³⁾		23,243			14,512			109,892

Total Mortgage Loan Fundings	$	47,266		$	32,003		$	211,807


Mortgage Loan Fundings by Product:
Government Fundings	$	1,056		$	1,119		$	4,837
ARM Fundings	$	25,952		$	17,259		$	115,864
Home Equity Fundings	$	3,879		$	2,787		$	19,822
Nonprime Fundings	$	4,202		$	3,745		$	20,256

MORTGAGE LOAN SERVICING ⁽⁴⁾
Volume	$	964,444		$	726,227
Units		6,843,218			5,547,050
Subservicing Volume ⁽⁵⁾	$	27,706		$	16,027
Subservicing Units		258,716			163,396
Prepayments in Full	$	22,192		$	14,945		$	101,797
Bulk Servicing Acquisitions	$	9,472		$	1,634		$	33,501
Portfolio Delinquency (%) — CHL⁽⁶⁾		3.51	%		3.48	%
Foreclosures Pending (%) — CHL⁽⁶⁾		0.39	%		0.37	%

(more)

5-5-5

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


	Month Ended						Year-to-Date
	June 30,			June 30,			June 30,
	2005			2004			2005
LOAN CLOSING SERVICES (units)
Credit Reports		886,555			631,763			4,788,103
Flood Determinations		350,861			239,522			1,735,520
Appraisals		113,910			59,839			550,411
Automated Property Valuation Services		615,269			480,364			3,441,720
Other		15,109			15,332			92,380

Total Units		1,981,704			1,426,820			10,608,134


CAPITAL MARKETS
Securities Trading Volume⁽⁷⁾	$	336,598		$	314,599		$	1,716,115

BANKING
Assets Held by Treasury Bank (in billions)	$	65.5		$	27.2

INSURANCE
Net Premiums Earned:
Carrier	$	62.2		$	50.6		$	328.2
Reinsurance		14.5			12.5			86.8

Total Net Premiums Earned	$	76.7		$	63.1		$	415.0


GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	109		$	110

Period-end Rates
10-Year U.S. Treasury Yield		3.94	%		4.62	%
FNMA 30-Year Fixed Rate MBS Coupon		5.00	%		5.59	%

⁽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 Company’s Mortgage Banking 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 non-Countrywide entities.

⁽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 Segment.

###

EX-99.2 3 v10624exv99w2.htm EXHIBIT 99.2 exv99w2

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


	Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			Feb-05			Mar-05			Apr-05			May-05			Jun-05			YTD
LOAN PRODUCTION
Number of Working Days in the Period		22			21			22			21			21			21			22			19			19			23			21			21			22			125
Average Daily Mortgage Loan Applications	$	1,905		$	2,006		$	2,051		$	2,098		$	1,991		$	2,010		$	1,983		$	2,107		$	2,329		$	2,362		$	2,565		$	2,773		$	3,029		$	2,539
Mortgage Loan Pipeline (loans-in-process)	$	47,317		$	48,142		$	50,024		$	50,887		$	51,990		$	50,638		$	47,768		$	47,842		$	54,774		$	58,803		$	65,791		$	70,491		$	77,009
Commercial Real Estate Loan Pipeline (loans-in-process)		—		$	7		$	72		$	109		$	229		$	327		$	308		$	233		$	308		$	393		$	361		$	275		$	502

Loan Fundings:
Consumer Markets Division	$	9,804		$	8,841		$	9,288		$	9,164		$	9,666		$	10,183		$	10,440		$	8,147		$	8,520		$	11,418		$	10,944		$	11,895		$	13,583		$	64,507
Wholesale Lending Division		5,913			5,376			6,102			5,881			6,236			6,775			6,992			5,177			5,378			6,802			5,738			6,383			7,492			36,970
Correspondent Lending Division		11,560			10,405			11,152			10,810			9,846			11,594			13,086			10,254			9,648			13,405			12,275			14,448			18,396			78,426

Total Mortgage Banking		27,277			24,622			26,542			25,855			25,748			28,552			30,518			23,578			23,546			31,625			28,957			32,726			39,471			179,903
Capital Markets		2,230			2,396			1,592			2,123			729			1,082			2,234			2,190			1,050			950			629			713			1,784			7,316
Treasury Bank (1)		2,496			2,686			2,988			3,020			2,740			1,734			1,978			2,477			2,310			3,734			4,819			5,237			6,011			24,588

Total Mortgage Loan Fundings		32,003			29,704			31,122			30,998			29,217			31,368			34,730			28,245			26,906			36,309			34,405			38,676			47,266			211,807
Commercial Real Estate Fundings		—			—			—			3			48			126			181			247			226			91			112			335			285			1,296

Total Loan Fundings	$	32,003		$	29,704		$	31,122		$	31,001		$	29,265		$	31,494		$	34,911		$	28,492		$	27,132		$	36,400		$	34,517		$	39,011		$	47,551		$	213,103


Loan Fundings in Units:
Consumer Markets Division		69,912			63,813			67,019			64,123			67,098			75,600			72,025			53,993			56,651			69,690			66,748			68,642			75,774			391,498
Wholesale Lending Division		33,270			30,710			34,422			32,818			33,390			37,491			38,476			26,805			27,846			35,407			29,500			31,153			34,497			185,208
Correspondent Lending Division		65,668			60,992			64,659			60,219			55,413			68,947			74,305			57,064			51,625			68,324			62,239			72,656			89,416			401,324

Total Mortgage Banking		168,850			155,515			166,100			157,160			155,901			182,038			184,806			137,862			136,122			173,421			158,487			172,451			199,687			978,030
Capital Markets		8,486			9,949			6,948			10,288			2,868			4,523			9,665			10,673			3,582			3,774			2,665			2,430			7,183			30,307
Treasury Bank (1)		26,627			26,236			28,829			28,736			28,081			8,862			13,389			19,904			19,969			33,006			38,171			41,036			45,933			198,019

Total Mortgage Loan Fundings in Units		203,963			191,700			201,877			196,184			186,850			195,423			207,860			168,439			159,673			210,201			199,323			215,917			252,803			1,206,356
Commercial Real Estate Units		—			—			—			1			6			10			13			6			11			9			9			23			31			89

Total Loan Fundings in Units		203,963			191,700			201,877			196,185			186,856			195,433			207,873			168,445			159,684			210,210			199,332			215,940			252,834			1,206,445


Mortgage Loan Fundings:
Purchase (2)	$	17,491		$	17,541		$	17,797		$	17,001		$	14,884		$	15,154		$	16,533		$	12,666		$	12,052		$	16,502		$	16,913		$	19,759		$	24,023		$	101,915
Non-purchase (2)		14,512			12,163			13,325			13,997			14,333			16,214			18,197			15,579			14,854			19,807			17,492			18,917			23,243			109,892

Total Mortgage Loan Fundings	$	32,003		$	29,704		$	31,122		$	30,998		$	29,217		$	31,368		$	34,730		$	28,245		$	26,906		$	36,309		$	34,405		$	38,676		$	47,266		$	211,807


Mortgage Loan Fundings by Product:
Government Fundings	$	1,119		$	1,039		$	961		$	934		$	832		$	953		$	875		$	646		$	695		$	796		$	792		$	852		$	1,056		$	4,837
ARM Fundings	$	17,259		$	17,021		$	18,278		$	21,026		$	16,341		$	16,422		$	18,457		$	15,080		$	14,081		$	19,484		$	19,583		$	21,684		$	25,952		$	115,864
Home Equity Fundings	$	2,787		$	2,838		$	3,056		$	3,164		$	3,036		$	3,061		$	3,148		$	2,732		$	2,618		$	3,413		$	3,519		$	3,661		$	3,879		$	19,822
Nonprime Fundings	$	3,745		$	3,785		$	4,275		$	3,894		$	3,276		$	3,459		$	4,306		$	3,851		$	2,605		$	3,364		$	2,922		$	3,312		$	4,202		$	20,256

MORTGAGE LOAN SERVICING (3)
Volume	$	726,227		$	746,905		$	765,342		$	785,992		$	805,922		$	821,287		$	838,322		$	866,665		$	878,270		$	893,405		$	914,465		$	937,275		$	964,444
Units		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			6,517,536			6,622,839			6,727,201			6,843,218

Subservicing Volume (4)	$	16,027		$	16,843		$	16,312		$	17,861		$	16,869		$	17,421		$	16,847		$	22,712		$	21,389		$	21,178		$	25,737		$	27,526		$	27,706
Subservicing Units		163,396			172,602			169,665			174,079			171,273			174,875			171,633			211,025			212,654			207,380			232,972			262,361			258,716

Prepayments in Full	$	14,945		$	12,430		$	13,232		$	13,669		$	14,336		$	16,013		$	17,755		$	12,408		$	11,790		$	20,809		$	16,608		$	17,990		$	22,192		$	101,797
Bulk Servicing Acquisitions	$	1,634		$	4,187		$	4,626		$	3,399		$	8,241		$	1,870		$	4,903		$	8,475		$	4,136		$	5,320		$	4,665		$	1,433		$	9,472		$	33,501

Portfolio Delinquency — CHL (5)		3.48	%		3.51	%		3.57	%		3.73	%		3.92	%		3.85	%		3.83	%		3.89	%		3.74	%		3.31	%		3.31	%		3.44	%		3.51	%
Foreclosures Pending — CHL (5)		0.37	%		0.37	%		0.35	%		0.35	%		0.37	%		0.41	%		0.42	%		0.45	%		0.45	%		0.43	%		0.39	%		0.39	%		0.39	%

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


	Jun-04			Jul-04			Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			Feb-05			Mar-05			Apr-05			May-05			Jun-05			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		631,763			630,223			677,931			657,661			660,351			634,685			580,363			695,173			696,309			872,342			807,247			830,477			886,555			4,788,103
Flood Determinations		239,522			243,241			265,888			239,230			237,386			235,665			247,978			233,500			260,748			296,382			287,393			306,636			350,861			1,735,520
Appraisals		59,839			62,732			74,314			78,118			77,388			80,253			82,114			68,309			76,441			97,743			91,952			102,056			113,910			550,411
Automated Property Valuation Services		480,364			467,030			480,329			463,760			477,592			508,451			496,643			496,469			508,279			655,246			574,803			591,654			615,269			3,441,720
Other		15,332			13,252			13,324			13,678			14,430			15,895			17,119			16,027			15,337			18,862			13,938			13,107			15,109			92,380

Total Units		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			1,940,575			1,775,333			1,843,930			1,981,704			10,608,134


CAPITAL MARKETS
Securities Trading Volume (6)	$	314,599		$	266,645		$	240,678		$	287,475		$	239,128		$	260,065		$	260,666		$	248,216		$	256,305		$	324,100		$	254,172		$	296,724		$	336,598		$	1,716,115

BANKING
Assets Held by Treasury Bank (in billions)	$	27.2		$	28.6		$	30.9		$	33.9		$	36.4		$	38.8		$	41.0		$	43.3		$	45.9		$	51.1		$	56.0		$	61.5		$	65.5

INSURANCE
Net Premiums Earned:
Carrier	$	50.6		$	54.4		$	50.7		$	50.0		$	54.1		$	53.6		$	55.8		$	54.5		$	49.3		$	52.0		$	53.6		$	56.6		$	62.2		$	328.2
Reinsurance		12.5			13.0			13.1			13.6			13.7			13.8			14.3			14.5			14.8			14.4			14.4			14.2			14.5			86.8

Total Net Premiums Earned	$	63.1		$	67.4		$	63.8		$	63.6		$	67.8		$	67.4		$	70.1		$	69.0		$	64.1		$	66.4		$	68.0		$	70.8		$	76.7		$	415.0


GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	110		$	110		$	109		$	110		$	112		$	117		$	118		$	116		$	118		$	115		$	116		$	111		$	109

Workforce Head Count: (7)
Loan Originations		23,035			23,114			23,680			24,334			24,899			25,203			25,071			25,162			25,183			25,470			26,024			27,076			28,482
Loan Servicing		5,908			5,910			5,920			5,961			6,079			6,202			6,331			6,225			6,259			6,367			6,559			6,783			6,992
Loan Closing Services		1,019			1,049			1,072			1,100			1,113			1,123			1,146			1,171			1,221			1,290			1,293			1,343			1,421
Insurance		1,826			1,854			1,845			1,881			1,880			1,880			1,899			1,890			1,913			1,925			1,982			2,003			2,039
Capital Markets		529			540			554			559			566			564			569			569			579			588			592			597			620
Global Operations		2,095			2,099			2,144			2,246			2,328			2,332			2,317			2,331			2,345			2,362			2,373			2,484			2,575
Banking		1,003			1,015			1,083			1,164			1,184			1,213			1,213			1,508			1,562			1,585			1,621			1,653			1,714
Corporate Overhead & Other		3,660			3,814			3,889			4,001			4,033			4,102			4,066			4,075			4,059			4,070			4,106			4,232			4,337

Total Workforce Head Count		39,075			39,395			40,187			41,246			42,082			42,619			42,612			42,931			43,121			43,657			44,550			46,171			48,180


Period-end Rates
10-Year U.S. Treasury Yield		4.62	%		4.50	%		4.13	%		4.14	%		4.05	%		4.36	%		4.24	%		4.14	%		4.36	%		4.50	%		4.21	%		4.00	%		3.94	%
FNMA 30-Year Fixed Rate MBS Coupon		5.59	%		5.48	%		5.16	%		5.23	%		5.11	%		5.27	%		5.21	%		5.12	%		5.34	%		5.48	%		5.28	%		5.02	%		5.00	%

(1) Treasury Bank funds loans for investment purposes; these loans are processed for Treasury Bank by the Company’s Mortgage Banking 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 non-Countrywide entities.

(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 Segment.

(7) Workforce Head Count includes full-time employees, contract, and temporary help.

# # #

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	COUNTRYWIDE FINANCIAL CORPORATION
Dated: July 14, 2005	/s/ Laura Milleman
	Laura Milleman
	Senior Managing Director and Chief Accounting Officer

	—		Monthly purchase volume set a new record high at $24 billion in June, advancing 37 percent from June 2004. Purchase fundings for the second quarter totaled $61 billion, an increase of 32 percent from the second quarter of 2004. Year-to-date purchase volume reached $102 billion, rising 31 percent from the first six months of 2004.

	—		Adjustable-rate loan fundings for June rose to a new high of $26 billion, up 50 percent from June 2004. Adjustable-rate loan volume for the second quarter of $67 billion was 38 percent higher than the second quarter of 2004. Year-to-date adjustable-rate loan volume totaled $116 billion, up 41 percent from the first half of 2004.

	—		Monthly home equity loan fundings reached a new high of $3.9 billion in June, up 39 percent from June 2004. Second quarter home equity volume rose 51 percent from the second quarter of 2004 to reach $11 billion. Year-to-date home equity production totaled $20 billion, an increase of 57 percent from the first half of 2004.

	—		Nonprime loan fundings in June rose to $4.2 billion, advancing 12 percent from June 2004. Second quarter nonprime volume of $10 billion was 9 percent more than the second quarter of 2004. Year-to-date nonprime production reached $20 billion, rising 23 percent from the first six months of 2004.

	—		Average daily mortgage loan application activity rose to $3.0 billion in June, increasing 59 percent from June 2004. As such, the mortgage loan pipeline increased by 63 percent from last year to reach $77 billion at June 30, 2005.

	•		The mortgage loan servicing portfolio continued to climb, rising by 33 percent, or $238 billion, from June 2004 to reach $964 billion at June 30, 2005.

	•		Securities trading volume at Capital Markets reached a new record high of $337 billion in June, up 7 percent from June 2004. Second quarter securities trading volume totaled $887 billion, up slightly from the second quarter of 2004. Year-to-date securities trading volume of $1.7 trillion was 9 percent greater than the first half of 2004.

	•		Total assets at Countrywide Bank reached $66 billion at June 30, 2005, an increase of 141 percent, or $38 billion, from June 2004.

	•		Monthly net earned premiums at Balboa reached a new high of $77 million in June, rising 22 percent from June 2004. Second quarter net earned premiums totaled $216 million, up 15 percent from the second quarter of 2004. Year-to-date net earned premiums of $415 million was 8 percent more than the first half of 2004.

	•		Subservicing volume at Global Home Loans was $109 billion at June 30, 2005, a decline of 1 percent, or $1 billion, from June 2004.