e8vk

0000950129-05-011734.txt : 20051208 0000950129-05-011734.hdr.sgml : 20051208 20051208143140 ACCESSION NUMBER: 0000950129-05-011734 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20051208 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051208 DATE AS OF CHANGE: 20051208 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: 051251897 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 v15217e8vk.htm FORM 8-K 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): December 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):

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

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

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

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

TABLE OF CONTENTS


	Item 2.02. Results of Operations and Financial Condition
	Item 9.01. Financial Statements and Exhibits
SIGNATURE
EXHIBIT INDEX
EXHIBIT 99.1
EXHIBIT 99.2

Item 2.02. Results of Operations and Financial Condition

On December 8, 2005, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended November 30, 2005, a copy of which is attached as Exhibit 99.1. On December 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


(c)	Exhibits

		99.1	Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended November 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: December 8, 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 November 30, 2005.

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

EX-99.1 2 v15217exv99w1.htm EXHIBIT 99.1 exv99w1

NEWS

INVESTOR CONTACT: (818) 225-3550
David Bigelow or Lisa Riordan
MEDIA CONTACT: (800) 796-8448

COUNTRYWIDE REPORTS NOVEMBER 2005 OPERATIONAL RESULTS

- YEAR-TO-DATE MORTGAGE LOAN FUNDINGS TOTAL $447 BILLION, A NEW COMPANY RECORD -

CALABASAS, CA (December 8, 2005) — Countrywide Financial Corporation (NYSE: CFC) released operational data for the month ended November 30, 2005. Operational highlights included the following:

•

Mortgage loan fundings for the month of November were $42 billion, a 35 percent increase from November 2004. Year-to-date mortgage loan fundings totaled $447 billion.

	–		Monthly purchase volume of $19 billion was 28 percent more than November 2004, bringing year-to-date purchase activity to $211 billion.

	–		Adjustable-rate loan fundings for the month were $21 billion, up 28 percent from November 2004. Year-to-date adjustable-rate fundings totaled $235 billion.

	–		Home equity loan fundings for November rose by 21 percent over last year to $3.7 billion, bringing year-to-date home equity loan fundings to $39 billion.

	–		Nonprime loan fundings totaled $3.9 billion in November, which compares to $3.5 billion for the same period last year. Year-to-date nonprime fundings were $40 billion.

	–		Pay-option loan fundings for the month were $7.9 billion, as compared to $4.1 billion in November 2004. Interest-only loan volume was $8.9 billion for the month of November 2005, which compares to $5.9 billion, for the same period a year ago.

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

	•		Average daily mortgage loan application activity in November was $2.7 billion, 33 percent higher than the November 2004 level. The mortgage loan pipeline rose by 36 percent from November 30, 2004 to $69 billion at November 30, 2005.

	•		The mortgage loan servicing portfolio continued its uninterrupted growth, reaching a new high of $1.09 trillion at November 30, 2005. This is an increase of $271 billion, or 33 percent, from November 30, 2004.

–

Delinquencies in the servicing portfolio rose 26 basis points from October 2005 to 4.58 percent at the end of November, which includes the effects of Hurricane Katrina. Countrywide is committed to working with borrowers in the hurricane-affected areas and administering forbearance plans to qualifying borrowers affected by the disasters.

Investor Relations
4500 Park Granada • Calabasas, CA 91302 • 818-225-3550

Page 1 of 2

                    http://www.countrywide.com
                    Countrywide Home Loans, Inc. and Countrywide Bank, N.A. 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.

•

Total assets at Countrywide Bank totaled $72 billion at November 30, 2005, an increase of 86 percent from November 30, 2004.

–

Countrywide Bank retained $1.5 billion of pay-option loans and $0.3 billion of interest-only loans during the month of November 2005. This compares to $0.2 billion and $1.0 billion, respectively, for the same period a year ago.

	•		Securities trading volume in the Capital Markets segment increased by 18 percent over last year to $307 billion for November 2005. Year-to-date securities trading volume reached $3.3 trillion.

	•		Net earned premiums from the Insurance segment were $90 million for the month of November 2005, which compares to $67 million for the prior year period. On a year-to-date basis, net earned premiums reached $832 million for 2005.

“Countrywide’s mortgage lending operations continue to post strong operational results even as market conditions shift,” said Stanford L. Kurland, President and Chief Operating Officer. “November results brought year-to-date residential mortgage production to $447 billion, surpassing the previous annual record of $435 billion set in 2003. The servicing portfolio continued its climb, reaching $1.09 trillion at month-end, positioning Countrywide for success in a wide variety of interest rate environments, consistent with our macro-hedge strategy. Our status as the nation’s largest residential mortgage originator and servicer, along with strong contributions from our other business lines, provides us with a solid foundation for continued success.”

Founded in 1969, Countrywide Financial Corporation is a diversified financial services provider and a member of the S&P 500, Forbes 2000, and Fortune 500. Through its family of companies, Countrywide: originates, purchases, securitizes, sells, and services prime and nonprime loans; provides loan closing services such as credit reports, appraisals and flood determinations; offers banking services which include depository and home loan products; conducts mortgage-related investment banking; provides property, life and casualty insurance; and manages a captive mortgage reinsurance company. 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.

(tables follow)

Investor Relations
4500 Park Granada • Calabasas, CA 91302 • 818-225-3550

Page 2 of 2

3-3-3

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


	Month Ended						Year-to-Date
	November 30,			November 30,			November 30,
	2005			2004			2005
LOAN PRODUCTION
Number of Working Days in the Period		21			21			231
Average Daily Mortgage Loan Applications	$	2,667		$	2,010		$	2,721
Mortgage Loan Pipeline (loans-in-process)	$	68,773		$	50,638
Commercial Real Estate Loan Pipeline (loans-in-process)	$	441		$	327

Loan Fundings:
Consumer Markets Division	$	12,483		$	10,183		$	130,735
Wholesale Lending Division		6,830			6,775			73,777
Correspondent Lending Division		18,406			11,594			180,193
Countrywide Bank ⁽²⁾		333			—			5,528

Total Mortgage Banking		38,052			28,552			390,233
Capital Markets		1,190			1,082			16,522
Countrywide Bank Investment Portfolio^{(2) (3)}		3,002			1,734			40,078

Total Mortgage Loan Fundings		42,244			31,368			446,833
Commercial Real Estate Fundings		647			126			3,563

Total Loan Fundings	$	42,891		$	31,494		$	450,396


Loan Fundings in Units:
Consumer Markets Division		72,224			75,600			765,973
Wholesale Lending Division		31,647			37,491			356,388
Correspondent Lending Division		85,926			68,947			877,477
Countrywide Bank ⁽²⁾		1,103			—			86,241

Total Mortgage Banking		190,900			182,038			2,086,079
Capital Markets		4,588			4,523			64,578
Countrywide Bank Investment Portfolio^{(2) (3)}		28,935			8,862			295,961

Total Mortgage Loan Fundings in Units		224,423			195,423			2,446,618
Commercial Real Estate		35			10			230

Total Loan Fundings in Units		224,458			195,433			2,446,848


Mortgage Loan Fundings ⁽⁴⁾ :
Purchase	$	19,409		$	15,154		$	211,049
Non-purchase		22,835			16,214			235,784

Total Mortgage Loan Fundings	$	42,244		$	31,368		$	446,833


Mortgage Loan Fundings by Product:
Government Fundings	$	886		$	953		$	9,822
ARM Fundings	$	21,052		$	16,422		$	234,615
Home Equity Fundings	$	3,714		$	3,061		$	38,686
Nonprime Fundings	$	3,899		$	3,459		$	40,232

MORTGAGE LOAN SERVICING ⁽⁵⁾
Volume	$	1,092,104		$	821,287
Units		7,379,806			6,113,193
Subservicing Volume ⁽⁶⁾	$	32,265		$	17,421
Subservicing Units		268,954			174,875
Prepayments in Full	$	19,125		$	16,013		$	209,961
Bulk Servicing Acquisitions	$	997		$	1,870		$	49,691
Portfolio Delinquency (%) — CHL⁽⁷⁾		4.58	%		3.85	%
Foreclosures Pending (%) — CHL⁽⁷⁾		0.43	%		0.41	%

(more)

4-4-4

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


	Month Ended						Year-to-Date
	November 30,			November 30,			November 30,
	2005			2004			2005
LOAN CLOSING SERVICES (units)
Credit Reports		764,650			634,685			8,946,367
Flood Determinations		301,893			235,665			3,281,289
Appraisals		105,296			80,253			1,106,250
Automated Property Valuation Services		618,304			508,451			6,953,107
Other		15,626			15,895			167,776

Total Units		1,805,769			1,474,949			20,454,789


CAPITAL MARKETS
Securities Trading Volume⁽⁸⁾	$	307,234		$	260,065		$	3,265,446

BANKING
Assets Held by Countrywide Bank (in billions)	$	72.3		$	38.8

INSURANCE
Net Premiums Earned:
Carrier	$	72.9		$	53.6		$	667.3
Reinsurance		17.0			13.8			164.2

Total Net Premiums Earned	$	89.9		$	67.4		$	831.5


GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	103		$	117

Period-end Rates
10-Year U.S. Treasury Yield		4.49	%		4.36	%
FNMA 30-Year Fixed Rate MBS Coupon		5.85	%		5.27	%


⁽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 for both investment purposes and for sale; these loans are processed for Countrywide Bank by the Company’s Mortgage Banking production divisions. Bank production included in Mortgage Banking fundings includes loans originated for sale at the Bank together with bulk sales of loans from the Bank to the Mortgage Banking Segment.

⁽³⁾		Bank loan fundings will be negative in a period where fundings are exceeded by loans sold to affiliates.

⁽⁴⁾		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.

⁽⁵⁾		Includes loans held for sale, loans held for investment, and loans serviced for others, including those under subservicing agreements.

⁽⁶⁾		Subservicing volume for non-Countrywide entities.

⁽⁷⁾		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.

⁽⁸⁾		Includes trades with Mortgage Banking Segment.

###

EX-99.2 3 v15217exv99w2.htm EXHIBIT 99.2 exv99w2

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


	Nov-04			Dec-04			Jan-05			Feb-05			Mar-05			Apr-05			May-05			Jun-05			Jul-05			Aug-05			Sep-05			Oct-05			Nov-05			YTD
LOAN PRODUCTION
Number of Working Days in the Period		21			22			19			19			23			21			21			22			20			23			21			21			21			231
Average Daily Mortgage Loan Applications	$	2,010		$	1,983		$	2,107		$	2,329		$	2,362		$	2,565		$	2,773		$	3,029		$	2,973		$	3,168		$	3,043		$	2,806		$	2,667		$	2,721
Mortgage Loan Pipeline (loans-in-process)	$	50,638		$	47,768		$	47,842		$	54,774		$	58,803		$	65,791		$	70,491		$	77,009		$	77,007		$	78,062		$	76,821		$	70,644		$	68,773
Commercial Real Estate Loan Pipeline (loans-in-process)	$	327		$	308		$	233		$	308		$	393		$	361		$	275		$	502		$	521		$	458		$	558		$	339		$	441

Loan Fundings:
Consumer Markets Division	$	10,183		$	10,440		$	8,147		$	8,520		$	11,418		$	10,944		$	11,895		$	13,583		$	12,644		$	14,488		$	13,257		$	13,356		$	12,483		$	130,735
Wholesale Lending Division		6,775			6,992			5,177			5,378			6,802			5,738			6,383			7,492			7,058			8,254			7,748			6,917			6,830			73,777
Correspondent Lending Division		11,594			13,086			10,254			9,648			13,405			12,275			14,448			18,396			18,209			22,681			21,841			20,630			18,406			180,193
Countrywide Bank (1)		0			0			0			0			0			0			0			0			103			150			4,693			249			333			5,528

Total Mortgage Banking		28,552			30,518			23,578			23,546			31,625			28,957			32,726			39,471			38,014			45,573			47,539			41,152			38,052			390,233
Capital Markets		1,082			2,234			2,190			1,050			950			629			713			1,784			659			2,335			2,089			2,933			1,190			16,522
Countrywide Bank Investment Portfolio (1) (2)		1,734			1,978			2,477			2,310			3,734			4,819			5,237			6,011			5,436			5,159			(794	)		2,687			3,002			40,078

Total Mortgage Loan Fundings		31,368			34,730			28,245			26,906			36,309			34,405			38,676			47,266			44,109			53,067			48,834			46,772			42,244			446,833
Commercial Real Estate Fundings		126			181			247			226			91			112			335			285			293			397			423			507			647			3,563

Total Loan Fundings	$	31,494		$	34,911		$	28,492		$	27,132		$	36,400		$	34,517		$	39,011		$	47,551		$	44,402		$	53,464		$	49,257		$	47,279		$	42,891		$	450,396


Loan Fundings in Units:
Consumer Markets Division		75,600			72,025			53,993			56,651			69,690			66,748			68,642			75,774			69,975			81,911			74,631			75,734			72,224			765,973
Wholesale Lending Division		37,491			38,476			26,805			27,846			35,407			29,500			31,153			34,497			32,941			38,251			35,621			32,720			31,647			356,388
Correspondent Lending Division		68,947			74,305			57,064			51,625			68,324			62,239			72,656			89,416			87,669			107,029			101,139			94,390			85,926			877,477
Countrywide Bank (1)		0			0			0			0			0			0			0			0			311			457			83,588			782			1,103			86,241

Total Mortgage Banking		182,038			184,806			137,862			136,122			173,421			158,487			172,451			199,687			190,896			227,648			294,979			203,626			190,900			2,086,079
Capital Markets		4,523			9,665			10,673			3,582			3,774			2,665			2,430			7,183			2,446			8,148			8,157			10,932			4,588			64,578
Countrywide Bank Investment Portfolio (1) (2)		8,862			13,389			19,904			19,969			33,006			38,171			41,036			45,933			43,421			43,705			(47,363	)		29,244			28,935			295,961

Total Mortgage Loan Fundings in Units		195,423			207,860			168,439			159,673			210,201			199,323			215,917			252,803			236,763			279,501			255,773			243,802			224,423			2,446,618
Commercial Real Estate		10			13			6			11			9			9			23			31			22			30			25			29			35			230

Total Loan Fundings in Units		195,433			207,873			168,445			159,684			210,210			199,332			215,940			252,834			236,785			279,531			255,798			243,831			224,458			2,446,848


Mortgage Loan Fundings (3):
Purchase	$	15,154		$	16,533		$	12,666		$	12,052		$	16,502		$	16,913		$	19,759		$	24,023		$	20,982		$	25,079		$	22,971		$	20,693		$	19,409		$	211,049
Non-purchase		16,214			18,197			15,579			14,854			19,807			17,492			18,917			23,243			23,127			27,988			25,863			26,079			22,835			235,784

Total Mortgage Loan Fundings	$	31,368		$	34,730		$	28,245		$	26,906		$	36,309		$	34,405		$	38,676		$	47,266		$	44,109		$	53,067		$	48,834		$	46,772		$	42,244		$	446,833


Mortgage Loan Fundings by Product:
Government Fundings	$	953		$	875		$	646		$	695		$	796		$	792		$	852		$	1,056		$	995		$	1,114		$	1,032		$	958		$	886		$	9,822
ARM Fundings	$	16,422		$	18,457		$	15,080		$	14,081		$	19,484		$	19,583		$	21,684		$	25,952		$	23,275		$	27,267		$	24,011		$	23,146		$	21,052		$	234,615
Home Equity Fundings	$	3,061		$	3,148		$	2,732		$	2,618		$	3,413		$	3,519		$	3,661		$	3,879		$	3,641		$	4,122		$	3,818		$	3,569		$	3,714		$	38,686
Nonprime Fundings	$	3,459		$	4,306		$	3,851		$	2,605		$	3,364		$	2,922		$	3,312		$	4,202		$	3,661		$	4,504		$	4,036		$	3,876		$	3,899		$	40,232

MORTGAGE LOAN SERVICING (4)
Volume	$	821,287		$	838,322		$	866,665		$	878,270		$	893,405		$	914,465		$	937,275		$	964,444		$	990,624		$	1,020,416		$	1,047,623		$	1,070,077		$	1,092,104
Units		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			7,203,562			7,294,228			7,379,806

Subservicing Volume (5)	$	17,421		$	16,847		$	22,712		$	21,389		$	21,178		$	25,737		$	27,526		$	27,706		$	28,783		$	28,868		$	27,556		$	30,641		$	32,265
Subservicing Units		174,875			171,633			211,025			212,654			207,380			232,972			262,361			258,716			261,325			259,688			256,935			267,847			268,954

Prepayments in Full	$	16,013		$	17,755		$	12,408		$	11,790		$	20,809		$	16,608		$	17,990		$	22,192		$	21,860		$	25,111		$	21,443		$	20,625		$	19,125		$	209,961
Bulk Servicing Acquisitions	$	1,870		$	4,903		$	8,475		$	4,136		$	5,320		$	4,665		$	1,433		$	9,472		$	6,279		$	3,393		$	59		$	5,462		$	997		$	49,691

Portfolio Delinquency — CHL (6)		3.85	%		3.83	%		3.89	%		3.74	%		3.31	%		3.31	%		3.44	%		3.51	%		3.86	%		3.68	%		4.03	%		4.32	%		4.58	%
Foreclosures Pending — CHL (6)		0.41	%		0.42	%		0.45	%		0.45	%		0.43	%		0.39	%		0.39	%		0.39	%		0.40	%		0.42	%		0.42	%		0.41	%		0.43	%

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


	Nov-04			Dec-04			Jan-05			Feb-05			Mar-05			Apr-05			May-05			Jun-05			Jul-05			Aug-05			Sep-05			Oct-05			Nov-05			YTD
LOAN CLOSING SERVICES (units)
Credit Reports		634,685			580,363			695,173			696,309			872,342			807,247			830,477			886,555			856,161			914,659			822,119			800,675			764,650			8,946,367
Flood Determinations		235,665			247,978			233,500			260,748			296,382			287,393			306,636			350,861			290,446			318,626			320,502			314,302			301,893			3,281,289
Appraisals		80,253			82,114			68,309			76,441			97,743			91,952			102,056			113,910			106,283			123,082			110,006			111,172			105,296			1,106,250
Automated Property Valuation Services		508,451			496,643			496,469			508,279			655,246			574,803			591,654			615,269			726,083			750,312			710,337			706,351			618,304			6,953,107
Other		15,895			17,119			16,027			15,337			18,862			13,938			13,107			15,109			13,311			16,786			15,249			14,424			15,626			167,776

Total Units		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			1,978,213			1,946,924			1,805,769			20,454,789


CAPITAL MARKETS
Securities Trading Volume (7)	$	260,065		$	260,666		$	248,216		$	256,305		$	324,100		$	254,172		$	296,724		$	336,598		$	295,824		$	345,998		$	329,551		$	270,724		$	307,234		$	3,265,446

BANKING
Assets Held by Countrywide Bank (in billions)	$	38.8		$	41.0		$	43.3		$	45.9		$	51.1		$	56.0		$	61.5		$	65.5		$	69.6		$	72.5		$	71.0		$	71.7		$	72.3

INSURANCE
Net Premiums Earned:
Carrier	$	53.6		$	55.8		$	54.5		$	49.3		$	52.0		$	53.6		$	56.6		$	62.2		$	67.1		$	53.7		$	74.6		$	70.8		$	72.9		$	667.3
Reinsurance		13.8			14.3			14.5			14.8			14.4			14.4			14.2			14.5			14.4			14.8			15.5			15.7			17.0			164.2

Total Net Premiums Earned	$	67.4		$	70.1		$	69.0		$	64.1		$	66.4		$	68.0		$	70.8		$	76.7		$	81.5		$	68.5		$	90.1		$	86.5		$	89.9		$	831.5


GLOBAL OPERATIONS
Global Home Loans Subservicing Volume (in billions)	$	117		$	118		$	116		$	118		$	115		$	116		$	111		$	109		$	106		$	109		$	106		$	106		$	103

Workforce Head Count: (8)
Loan Originations		25,203			25,071			25,162			25,183			25,470			26,024			27,076			28,482			29,393			30,853			31,318			31,800			31,943
Loan Servicing		6,202			6,331			6,225			6,259			6,367			6,559			6,783			6,992			7,131			7,415			7,552			7,683			7,830
Loan Closing Services		1,123			1,146			1,171			1,221			1,290			1,293			1,343			1,421			1,464			1,528			1,571			1,619			1,648
Insurance		1,880			1,899			1,890			1,913			1,925			1,982			2,003			2,039			2,068			2,074			2,053			2,043			2,096
Capital Markets		564			569			569			579			588			592			597			620			638			640			653			661			673
Global Operations		2,332			2,317			2,331			2,345			2,362			2,373			2,484			2,575			2,557			2,703			2,865			2,902			3,050
Banking		1,213			1,213			1,508			1,562			1,585			1,621			1,653			1,714			1,798			1,896			2,039			2,092			2,101
Corporate Overhead & Other		4,102			4,066			4,075			4,059			4,070			4,106			4,232			4,337			4,375			4,492			4,632			4,767			4,881

Total Workforce Head Count		42,619			42,612			42,931			43,121			43,657			44,550			46,171			48,180			49,424			51,601			52,683			53,567			54,222


Period-end Rates
10-Year U.S. Treasury Yield		4.36	%		4.24	%		4.14	%		4.36	%		4.50	%		4.21	%		4.00	%		3.94	%		4.28	%		4.02	%		4.34	%		4.57	%		4.49	%
FNMA 30-Year Fixed Rate MBS Coupon		5.27	%		5.21	%		5.12	%		5.34	%		5.48	%		5.28	%		5.02	%		5.00	%		5.36	%		5.15	%		5.51	%		5.80	%		5.85	%


(1)		Countrywide Bank funds loans for both investment purposes and for sale; these loans are processed for Countrywide Bank by the Company’s Mortgage Banking production divisions. Bank production included in Mortgage Banking fundings includes loans originated for sale at the Bank together with bulk sales of loans from the Bank to the Mortgage Banking Segment.

(2)		Bank loan fundings will be negative in a period where fundings are exceeded by loans sold to affiliates.

(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, including those 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.

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

# # #

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