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): September 12, 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 September 12, 2005, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended August 31, 2005, a copy of which is attached as Exhibit 99.1. On September 12, 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 August 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: September 12, 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 August 31, 2005.
99.2	Thirteen-month statistical data report made available by the Company on its website.

EX-99.1

Exhibit 99.1

NEWS

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

MEDIA CONTACT: (800) 796-8448

COUNTRYWIDE REPORTS AUGUST 2005 OPERATIONAL RESULTS

– MORTGAGE SERVICING PORTFOLIO SURPASSES $1 TRILLION –

– MONTHLY MORTGAGE LOAN FUNDINGS REACH RECORD HIGH OF $53 BILLION –

– FINANCIAL IMPACT OF HURRICANE KATRINA STILL UNDER ASSESSMENT –

CALABASAS, CA (September 12, 2005) – Countrywide Financial Corporation (NYSE: CFC) commented on Hurricane Katrina and released operational data for the month ended August 31, 2005.

“Hurricane Katrina has tragically impacted the people and communities of the Gulf Coast,” said Angelo R. Mozilo, Chairman and Chief Executive Officer. “Our thoughts are with the people who were affected by this natural disaster, including those in our own Countrywide family. We are continuing to focus on assisting our customers and employees as they deal with the hurricane’s aftermath. Countrywide stands ready to do its part to support the rebuilding effort, as demonstrated by our announcement last Friday the Company will make initial contributions of up to $1.6 million to hurricane-related relief programs.”

“As the recovery begins, our attention must turn to the determination of Hurricane Katrina’s financial impact,” said Stanford L. Kurland, President and Chief Operating Officer. “Countrywide’s principal sources of exposure are expected to relate to our insurance operations, residuals and loans held for investment. The Company has already established a sophisticated protocol for assessing the damage, but the availability and integrity of data regarding the condition of affected properties remain problematic at this time. As inspectors gain access to these areas and provide credible information, we will develop reliable loss estimates. While the financial impact of Hurricane Katrina to Countrywide is not determinable at present, we believe it will not be insignificant. In comparison, the Company’s hurricane losses in 2004 were approximately $70 million, and expectations are that the financial impact of Hurricane Katrina will exceed that amount. Management believes, however, that the Company is well-positioned to effectively manage the consequences of this natural disaster.”

Notwithstanding the effects of Hurricane Katrina, Countrywide’s operational statistics for the month of August 2005 were notable. Operational highlights included the following:

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• The mortgage loan servicing portfolio set a Company and industry milestone, surpassing $1.0 trillion at August 31, 2005. This is an increase of $255 billion, or 33 percent, from August 2004.

• Mortgage loan fundings for the month of August reached $53 billion, a new record and a 71 percent increase from August 2004. Year-to-date mortgage loan fundings were $309 billion.

— Monthly purchase volume was a record $25 billion, 41 percent higher than August 2004. Year-to-date purchase activity totaled $148 billion.

— Adjustable-rate loan fundings for the month reached a new high of $27 billion, rising 49 percent from August 2004. Year-to-date adjustable-rate fundings totaled $166 billion.

— Home equity loan fundings for August set a new record at $4.1 billion, an increase of 35 percent from August 2004, bringing year-to-date home equity production to $28 billion.

— Nonprime loan fundings totaled $4.5 billion in August, also a new benchmark, and an increase of 5 percent from August 2004. This brought year-to-date nonprime fundings to $28 billion.

— On a consolidated basis, Countrywide funded $10.4 billion in pay-option ARM loans and $9.4 billion in interest-only loans for the month of August 2005.

— It should be noted that the various mortgage loan funding categories listed above are not mutually exclusive and are not intended to equal 100 percent of total fundings.

• Average daily mortgage loan application activity in August was $3.2 billion, 54 percent greater than the August 2004 level. The mortgage loan pipeline increased by 56 percent from August 2004 to $78 billion at August 31, 2005, marking its second highest level.

• Total assets at Countrywide Bank reached $73 billion at August 31, 2005, an increase of 135 percent, or $42 billion, from August 2004.

— Countrywide Bank funded $3.3 billion of pay-option ARM loans and $0.2 billion of interest-only loans during the month of August 2005.

• Securities trading volume at Capital Markets set a new record at $346 billion in August, 44 percent higher than August 2004. Year-to-date securities trading volume reached $2.4 trillion.

• Monthly net earned premiums from the Insurance segment were $79 million, up 23 percent from August 2004. Year-to-date net earned premiums totaled $575 million.

• Subservicing volume at Global Home Loans was $109 billion at August 31, 2005, unchanged from August 2004.

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“Being the first servicer to reach $1 trillion in loans serviced is one of the great milestones in Countrywide’s history,” Kurland continued. “Achievements in the Production sector were notable as well, including a record high of $53 billion in monthly mortgage loan fundings, surpassing the previous record set in July 2003. These accomplishments are a testament to the tremendous work ethic and unmatched expertise of Countrywide’s management team and employees. At the same time, these milestones emphasize how we have helped millions of American families achieve the dream of homeownership.”

Countrywide continues to assess the impact of Hurricane Katrina on our businesses, assets and operations. Many factors could ultimately affect the financial impact on Countrywide, including, but not limited to, new information that may become available as the affected areas become accessible; the short-term and long-term impact on the economies of the affected communities; the conduct of borrowers in the affected areas; the actions of various third parties, including government agencies and government-sponsored entities that support housing, insurance companies, lenders and mortgage insurance companies; the apportionment of liability among insurers; the availability of catastrophic reinsurance proceeds; factors impacting property values in the affected areas, including any environmental factors such as the presence of toxic chemicals; subsequent storm activity; and other factors.

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 mortgage 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, 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 generally accepted accounting principles or in the legal, regulatory and legislative environments in the markets in which the Company operates; the ability of management to effectively implement the Company’s strategies; 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.

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

	Month Ended						Year-to-Date
	August 31,			August 31,			August 31,
	2005			2004			2005
LOAN PRODUCTION
Number of Working Days in the Period		23			22			168
Average Daily Mortgage Loan Applications	$	3,168		$	2,051		$	2,677
Mortgage Loan Pipeline (loans-in-process)	$	78,062		$	50,024
Commercial Real Estate Loan Pipeline (loans-in-process)	$	458		$	72
Loan Fundings:
Consumer Markets Division	$	14,488		$	9,288		$	91,639
Wholesale Lending Division		8,254			6,102			52,282
Correspondent Lending Division		22,681			11,152			119,316
Total Mortgage Banking		45,423			26,542			263,237
Capital Markets		2,335			1,592			10,310
Countrywide Bank (2)		5,309			2,988			35,436
Total Mortgage Loan Fundings		53,067			31,122			308,983
Commercial Real Estate Fundings		397			—			1,986
Total Loan Fundings	$	53,464		$	31,122		$	310,969
Loan Fundings in Units:
Consumer Markets Division		81,911			67,019			543,384
Wholesale Lending Division		38,251			34,422			256,400
Correspondent Lending Division		107,029			64,659			596,022
Total Mortgage Banking		227,191			166,100			1,395,806
Capital Markets		8,148			6,948			40,901
Countrywide Bank (2)		44,162			28,829			285,913
Total Mortgage Loan Fundings in Units		279,501			201,877			1,722,620
Commercial Real Estate		30			—			141
Total Loan Fundings in Units		279,531			201,877			1,722,761
Mortgage Loan Fundings:
Purchase (3)	$	25,079		$	17,797		$	147,976
Non-purchase (3)		27,988			13,325			161,007
Total Mortgage Loan Fundings	$	53,067		$	31,122		$	308,983
Mortgage Loan Fundings by Product:
Government Fundings	$	1,114		$	961		$	6,946
ARM Fundings	$	27,267		$	18,278		$	166,406
Home Equity Fundings	$	4,122		$	3,056		$	27,585
Nonprime Fundings	$	4,504		$	4,275		$	28,421
MORTGAGE LOAN SERVICING (4)
Volume	$	1,020,416		$	765,342
Units		7,089,887			5,773,837
Subservicing Volume (5)	$	28,868		$	16,312
Subservicing Units		259,688			169,665
Prepayments in Full	$	25,111		$	13,232		$	148,768
Bulk Servicing Acquisitions	$	3,393		$	4,626		$	43,173
Portfolio Delinquency (%) — CHL (6)		3.68	%		3.57	%
Foreclosures Pending (%) — CHL (6)		0.42	%		0.35	%

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

	Month Ended						Year-to-Date
	August 31,			August 31,			August 31,
	2005			2004			2005
LOAN CLOSING SERVICES (units)
Credit Reports		914,659			677,931			6,558,923
Flood Determinations		318,626			265,888			2,344,592
Appraisals		123,082			74,314			779,776
Automated Property Valuation Services		750,312			480,329			4,918,115
Other		16,786			13,324			122,477
Total Units		2,123,465			1,511,786			14,723,883
CAPITAL MARKETS
Securities Trading Volume (7)	$	345,998		$	240,678		$	2,357,937
BANKING
Assets Held by Countrywide Bank (in billions)	$	72.5		$	30.9
INSURANCE
Net Premiums Earned:
Carrier	$	63.7		$	50.7		$	459.0
Reinsurance		14.8			13.1			116.0
Total Net Premiums Earned	$	78.5		$	63.8		$	575.0
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	109		$	109
Period-end Rates
10-Year U.S. Treasury Yield		4.02	%		4.13	%
FNMA 30-Year Fixed Rate MBS Coupon		5.15	%		5.16	%

(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)	Countrywide Bank funds loans primarily for investment purposes; these loans are processed for Countrywide 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 for others under subservicing agreements.
(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

EXHIBIT 99.2

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

	Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			Feb-05			Mar-05			Apr-05			May-05			Jun-05			Jul-05			Aug-05			YTD
LOAN PRODUCTION
Number of Working Days in the Period		22			21			21			21			22			19			19			23			21			21			22			20			23			168
Average Daily Mortgage Loan Applications	$	2,051		$	2,098		$	1,991		$	2,010		$	1,983		$	2,107		$	2,329		$	2,362		$	2,565		$	2,773		$	3,029		$	2,973		$	3,168		$	2,677
Mortgage Loan Pipeline (loans-in-process)	$	50,024		$	50,887		$	51,990		$	50,638		$	47,768		$	47,842		$	54,774		$	58,803		$	65,791		$	70,491		$	77,009		$	77,007		$	78,062
Commercial Real Estate Loan Pipeline (loans-in-process)	$	72		$	109		$	229		$	327		$	308		$	233		$	308		$	393		$	361		$	275		$	502		$	521		$	458
Loan Fundings:
Consumer Markets Division	$	9,288		$	9,164		$	9,666		$	10,183		$	10,440		$	8,147		$	8,520		$	11,418		$	10,944		$	11,895		$	13,583		$	12,644		$	14,488		$	91,639
Wholesale Lending Division		6,102			5,881			6,236			6,775			6,992			5,177			5,378			6,802			5,738			6,383			7,492			7,058			8,254			52,282
Correspondent Lending Division		11,152			10,810			9,846			11,594			13,086			10,254			9,648			13,405			12,275			14,448			18,396			18,209			22,681			119,316
Total Mortgage Banking		26,542			25,855			25,748			28,552			30,518			23,578			23,546			31,625			28,957			32,726			39,471			37,911			45,423			263,237
Capital Markets		1,592			2,123			729			1,082			2,234			2,190			1,050			950			629			713			1,784			659			2,335			10,310
Countrywide Bank (1)		2,988			3,020			2,740			1,734			1,978			2,477			2,310			3,734			4,819			5,237			6,011			5,539			5,309			35,436
Total Mortgage Loan Fundings		31,122			30,998			29,217			31,368			34,730			28,245			26,906			36,309			34,405			38,676			47,266			44,109			53,067			308,983
Commercial Real Estate Fundings		—			3			48			126			181			247			226			91			112			335			285			293			397			1,986
Total Loan Fundings	$	31,122		$	31,001		$	29,265		$	31,494		$	34,911		$	28,492		$	27,132		$	36,400		$	34,517		$	39,011		$	47,551		$	44,402		$	53,464		$	310,969
Loan Fundings in Units:
Consumer Markets Division		67,019			64,123			67,098			75,600			72,025			53,993			56,651			69,690			66,748			68,642			75,774			69,975			81,911			543,384
Wholesale Lending Division		34,422			32,818			33,390			37,491			38,476			26,805			27,846			35,407			29,500			31,153			34,497			32,941			38,251			256,400
Correspondent Lending Division		64,659			60,219			55,413			68,947			74,305			57,064			51,625			68,324			62,239			72,656			89,416			87,669			107,029			596,022
Total Mortgage Banking		166,100			157,160			155,901			182,038			184,806			137,862			136,122			173,421			158,487			172,451			199,687			190,585			227,191			1,395,806
Capital Markets		6,948			10,288			2,868			4,523			9,665			10,673			3,582			3,774			2,665			2,430			7,183			2,446			8,148			40,901
Countrywide Bank (1)		28,829			28,736			28,081			8,862			13,389			19,904			19,969			33,006			38,171			41,036			45,933			43,732			44,162			285,913
Total Mortgage Loan Fundings in Units		201,877			196,184			186,850			195,423			207,860			168,439			159,673			210,201			199,323			215,917			252,803			236,763			279,501			1,722,620
Commercial Real Estate		—			1			6			10			13			6			11			9			9			23			31			22			30			141
Total Loan Fundings in Units		201,877			196,185			186,856			195,433			207,873			168,445			159,684			210,210			199,332			215,940			252,834			236,785			279,531			1,722,761
Mortgage Loan Fundings:
Purchase (2)	$	17,797		$	17,001		$	14,884		$	15,154		$	16,533		$	12,666		$	12,052		$	16,502		$	16,913		$	19,759		$	24,023		$	20,982		$	25,079		$	147,976
Non-purchase (2)		13,325			13,997			14,333			16,214			18,197			15,579			14,854			19,807			17,492			18,917			23,243			23,127			27,988			161,007
Total Mortgage Loan Fundings	$	31,122		$	30,998		$	29,217		$	31,368		$	34,730		$	28,245		$	26,906		$	36,309		$	34,405		$	38,676		$	47,266		$	44,109		$	53,067		$	308,983
Mortgage Loan Fundings by Product:
Government Fundings	$	961		$	934		$	832		$	953		$	875		$	646		$	695		$	796		$	792		$	852		$	1,056		$	995		$	1,114		$	6,946
ARM Fundings	$	18,278		$	21,026		$	16,341		$	16,422		$	18,457		$	15,080		$	14,081		$	19,484		$	19,583		$	21,684		$	25,952		$	23,275		$	27,267		$	166,406
Home Equity Fundings	$	3,056		$	3,164		$	3,036		$	3,061		$	3,148		$	2,732		$	2,618		$	3,413		$	3,519		$	3,661		$	3,879		$	3,641		$	4,122		$	27,585
Nonprime Fundings	$	4,275		$	3,894		$	3,276		$	3,459		$	4,306		$	3,851		$	2,605		$	3,364		$	2,922		$	3,312		$	4,202		$	3,661		$	4,504		$	28,421
MORTGAGE LOAN SERVICING (3)
Volume	$	765,342		$	785,992		$	805,922		$	821,287		$	838,322		$	866,665		$	878,270		$	893,405		$	914,465		$	937,275		$	964,444		$	990,624		$	1,020,416
Units		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			6,957,389			7,089,887
Subservicing Volume (4)	$	16,312		$	17,861		$	16,869		$	17,421		$	16,847		$	22,712		$	21,389		$	21,178		$	25,737		$	27,526		$	27,706		$	28,783		$	28,868
Subservicing Units		169,665			174,079			171,273			174,875			171,633			211,025			212,654			207,380			232,972			262,361			258,716			261,325			259,688
Prepayments in Full	$	13,232		$	13,669		$	14,336		$	16,013		$	17,755		$	12,408		$	11,790		$	20,809		$	16,608		$	17,990		$	22,192		$	21,860		$	25,111		$	148,768
Bulk Servicing Acquisitions	$	4,626		$	3,399		$	8,241		$	1,870		$	4,903		$	8,475		$	4,136		$	5,320		$	4,665		$	1,433		$	9,472		$	6,279		$	3,393		$	43,173
Portfolio Delinquency — CHL (5)		3.57	%		3.73	%		3.92	%		3.85	%		3.83	%		3.89	%		3.74	%		3.31	%		3.31	%		3.44	%		3.51	%		3.86	%		3.68	%
Foreclosures Pending — CHL (5)		0.35	%		0.35	%		0.37	%		0.41	%		0.42	%		0.45	%		0.45	%		0.43	%		0.39	%		0.39	%		0.39	%		0.40	%		0.42	%

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

	Aug-04			Sep-04			Oct-04			Nov-04			Dec-04			Jan-05			Feb-05			Mar-05			Apr-05			May-05			Jun-05			Jul-05			Aug-05			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		677,931			657,661			660,351			634,685			580,363			695,173			696,309			872,342			807,247			830,477			886,555			856,161			914,659			6,558,923
Flood Determinations		265,888			239,230			237,386			235,665			247,978			233,500			260,748			296,382			287,393			306,636			350,861			290,446			318,626			2,344,592
Appraisals		74,314			78,118			77,388			80,253			82,114			68,309			76,441			97,743			91,952			102,056			113,910			106,283			123,082			779,776
Automated Property Valuation Services		480,329			463,760			477,592			508,451			496,643			496,469			508,279			655,246			574,803			591,654			615,269			726,083			750,312			4,918,115
Other		13,324			13,678			14,430			15,895			17,119			16,027			15,337			18,862			13,938			13,107			15,109			13,311			16,786			122,477
Total Units		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			1,992,284			2,123,465			14,723,883
CAPITAL MARKETS
Securities Trading Volume (6)	$	240,678		$	287,475		$	239,128		$	260,065		$	260,666		$	248,216		$	256,305		$	324,100		$	254,172		$	296,724		$	336,598		$	295,824		$	345,998		$	2,357,937
BANKING
Assets Held by Countrywide Bank (in billions)	$	30.9		$	33.9		$	36.4		$	38.8		$	41.0		$	43.3		$	45.9		$	51.1		$	56.0		$	61.5		$	65.5		$	69.6		$	72.5
INSURANCE
Net Premiums Earned:
Carrier	$	50.7		$	50.0		$	54.1		$	53.6		$	55.8		$	54.5		$	49.3		$	52.0		$	53.6		$	56.6		$	62.2		$	67.1		$	63.7		$	459.0
Reinsurance		13.1			13.6			13.7			13.8			14.3			14.5			14.8			14.4			14.4			14.2			14.5			14.4			14.8			116.0
Total Net Premiums Earned	$	63.8		$	63.6		$	67.8		$	67.4		$	70.1		$	69.0		$	64.1		$	66.4		$	68.0		$	70.8		$	76.7		$	81.5		$	78.5		$	575.0
GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	109		$	110		$	112		$	117		$	118		$	116		$	118		$	115		$	116		$	111		$	109		$	106		$	109
Workforce Head Count: (7)
Loan Originations		23,680			24,334			24,899			25,203			25,071			25,162			25,183			25,470			26,024			27,076			28,482			29,393			30,853
Loan Servicing		5,920			5,961			6,079			6,202			6,331			6,225			6,259			6,367			6,559			6,783			6,992			7,131			7,415
Loan Closing Services		1,072			1,100			1,113			1,123			1,146			1,171			1,221			1,290			1,293			1,343			1,421			1,464			1,528
Insurance		1,845			1,881			1,880			1,880			1,899			1,890			1,913			1,925			1,982			2,003			2,039			2,068			2,074
Capital Markets		554			559			566			564			569			569			579			588			592			597			620			638			640
Global Operations		2,144			2,246			2,328			2,332			2,317			2,331			2,345			2,362			2,373			2,484			2,575			2,624			2,703
Banking		1,083			1,164			1,184			1,213			1,213			1,508			1,562			1,585			1,621			1,653			1,714			1,798			1,896
Corporate Overhead & Other		3,889			4,001			4,033			4,102			4,066			4,075			4,059			4,070			4,106			4,232			4,337			4,375			4,492
Total Workforce Head Count		40,187			41,246			42,082			42,619			42,612			42,931			43,121			43,657			44,550			46,171			48,180			49,491			51,601
Period-end Rates
10-Year U.S. Treasury Yield		4.13	%		4.14	%		4.05	%		4.36	%		4.24	%		4.14	%		4.36	%		4.50	%		4.21	%		4.00	%		3.94	%		4.28	%		4.02	%
FNMA 30-Year Fixed Rate MBS Coupon		5.16	%		5.23	%		5.11	%		5.27	%		5.21	%		5.12	%		5.34	%		5.48	%		5.28	%		5.02	%		5.00	%		5.36	%		5.15	%

(1)	Countrywide Bank funds loans primarily for investment purposes; these loans are processed for Countrywide 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 for others under subservicing agreements.
(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.