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Exhibit 12.1

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT 12.1—COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES

        The following table sets forth the ratio of earnings to fixed charges of the Company for the nine months ended September 30, 2007 and 2006 and the years ended December 31, 2006, 2005, 2004, 2003, and 2002, computed by dividing net fixed charges (interest expense on all debt plus the interest element (one-third) of operating leases) into earnings (earnings before income taxes and fixed charges).

			Nine Months Ended September 30,					Years Ended December 31,
(dollar amounts in thousands)
			2007			2006		2006		2005		2004		2003		2002
Net (loss) earnings			$	(281,644	)	$	2,053,265	$	2,674,846	$	2,528,090	$	2,197,574	$	2,372,950	$	841,779
Income tax (benefit) expense				(320,565	)		1,296,333		1,659,289		1,619,676		1,398,299		1,472,822		501,244
Interest expense				7,941,494			6,543,619		9,133,682		5,616,425		2,608,338		1,940,207		1,461,066
Interest portion of rental expense				65,105			55,259		77,055		62,104		53,562		36,565		26,671
Earnings available to cover fixed charges			$	7,404,390		$	9,948,476	$	13,544,872	$	9,826,295	$	6,257,773	$	5,822,544	$	2,830,760
Fixed charges:
	Interest expense		$	7,941,494		$	$6,543,619	$	9,133,682	$	5,616,425	$	2,608,338	$	1,940,207	$	1,461,066
	Interest portion of rental expense			65,105			55,259		77,055		62,104		53,562		36,565		26,671
		Total fixed charges	$	8,006,599		$	6,598,878	$	9,210,737	$	5,678,529	$	2,661,900	$	1,976,772	$	1,487,737
Ratio of earnings to fixed charges				0.92			1.51		1.47		1.73		2.35		2.95		1.90

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Exhibit 12.1

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES EXHIBIT 12.1—COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES