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): December 12, 2006

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 December 12, 2006, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended November 30, 2006, a copy of which is attached as Exhibit 99.1.  On December 12, 2006, 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

(d)Exhibits

99.1	Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended November 30, 2006.
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
	/s/ Laura Milleman
Dated: December 12, 2006
	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, 2006.
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 NOVEMBER 2006 OPERATIONAL RESULTS

CALABASAS, CA (December 12, 2006) – Countrywide Financial Corporation (NYSE: CFC) released operational data for the month ended November 30, 2006.  Key operational results included the following:

·    Mortgage loan fundings for November totaled $38 billion, a decline of 11 percent from November 2005.  Compared to October 2006, mortgage loan fundings were down 8 percent, however, on an average daily basis, they were down 4 percent.

–    Monthly purchase volume of $16 billion was 18 percent lower than November 2005.  Home equity loan fundings of $3.2 billion fell 13 percent from the prior year period, and nonprime loan fundings were $3.1 billion, which compares to $3.9 billion in November 2005.

–    On a consolidated basis, Countrywide funded $3.2 billion in pay-option loans during the month as compared to $7.9 billion in November 2005.  Year-to-date pay-option fundings were $62 billion as compared to $87 billion for the same period last year.

–    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 November was $2.7 billion, up 2 percent from November 2005.  The mortgage loan pipeline was $62 billion at November 30, 2006 as compared to $69 billion at November 30, 2005.

·    The mortgage loan servicing portfolio continued to grow, reaching $1.3 trillion at November 30, 2006.  This is an increase of $186 billion, or 17 percent, from November 30, 2005.

·    Banking Operations’ assets were $82 billion at November 30, 2006, an increase of 14 percent from November 30, 2005.

·    Securities trading volume in the Capital Markets segment totaled $326 billion for November 2006, rising 6 percent as compared to November 2005.

·    Net earned premiums from the Insurance segment totaled $100 million, up 11 percent from November 2005.

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Investor Relations

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

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.

“November 2006 operational results continued to reflect transitional market conditions,” said Angelo R. Mozilo, Chairman and Chief Executive Officer.  “Total mortgage loan fundings declined modestly from the prior month.  Purchase volume fell as a result of continued softness in the housing market, as well as seasonality.  Refinance activity declined as well, but falling long-term interest rates during November resulted in an increase in average daily application volume and an ending mortgage loan pipeline of $62 billion, indicative of strong funding volume for the remainder of the year.  Our servicing portfolio continued its uninterrupted climb, reaching $1.3 trillion at the end of November.

“Year-to-date operational results were positive across our other business lines and are on pace to exceed 2005 full-year results.  Banking Operations’ assets were $82 billion, Capital Markets securities trading volume rose to $3.5 trillion and net premiums earned from our Insurance segment reached a record $1 billion.”

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 fixed income securities underwriting and trading activities; 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 ratings 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; failure to attract and retain a highly skilled workforce; 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)

2

Investor Relations

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

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.

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,		November 30,
	2006			2005			2006		2005
LOAN PRODUCTION
Number of Working Days in the Period	21			21			232		231
Average Daily Mortgage Loan Applications	$	2,729		$	2,667		$	2,635	$	2,721
Mortgage Loan Pipeline (loans-in-process)	$	62,004		$	68,773
Commercial Real Estate Loan Pipeline (loans-in-process)	$	408		$	441
Loan Fundings:
Consumer Markets Division	$	12,809		$	13,656		$	141,830	$	141,973
Wholesale Lending Division	6,650			8,171			87,756		94,496
Correspondent Lending Division	17,764			19,227			166,961		193,842
Capital Markets	565			1,190			16,083		16,522
Total Mortgage Loan Fundings	37,788			42,244			412,630		446,833
Commercial Real Estate Fundings	863			647			4,578		3,563
Total Loan Fundings	$	38,651		$	42,891		$	417,208	$	450,396
Bank Mortgage Loan Fundings (2)	$	15,235		$	3,335		$	105,887	$	45,606
Loan Fundings in Units:
Consumer Markets Division	75,501			86,972			903,381		925,987
Wholesale Lending Division	32,856			39,158			428,066		467,373
Correspondent Lending Division	87,847			93,705			836,984		988,680
Capital Markets	2,198			4,588			61,903		64,578
Total Mortgage Loan Fundings in Units	198,402			224,423			2,230,334		2,446,618
Commercial Real Estate	70			35			533		230
Total Loan Fundings in Units	198,472			224,458			2,230,867		2,446,848
Bank Mortgage Loan Units (2)	85,771			30,038			687,047		382,202
Mortgage Loan Fundings: (3)
Purchase	$	15,832		$	19,409		$	189,114	$	211,049
Non-purchase	21,956			22,835			223,516		235,784
Total Mortgage Loan Fundings	$	37,788		$	42,244		$	412,630	$	446,833
Mortgage Loan Fundings by Product:
Government Fundings	$	1,176		$	886		$	11,853	$	9,822
ARM Fundings	$	13,817		$	21,052		$	188,059	$	234,615
Home Equity Fundings	$	3,219		$	3,714		$	42,019	$	38,686
Nonprime Fundings	$	3,058		$	3,899		$	36,857	$	40,232
MORTGAGE LOAN SERVICING (4)
Volume	$	1,278,101		$	1,092,104
Units	8,110,072			7,379,806
Subservicing Volume (5)	$	18,692		$	32,265
Subservicing Units	183,359			268,954
Prepayments in Full	$	19,455		$	19,125		$	195,486	$	209,961
Bulk Servicing Acquisitions	$	2,164		$	997		$	9,192	$	49,691
Portfolio Delinquency - CHL (6)	4.57		%	4.58		%
Foreclosures Pending - CHL (6)	0.60		%	0.43		%

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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,		November 30,
	2006			2005			2006		2005
LOAN CLOSING SERVICES (units)
Credit Reports	744,719			764,650			9,292,633		8,946,367
Flood Determinations	292,759			301,893			3,116,577		3,281,289
Appraisals	110,071			105,296			1,168,289		1,106,250
Automated Property Valuation Services	902,351			618,304			7,645,711		6,953,107
Other	20,595			15,626			192,462		167,776
Total Units	2,070,495			1,805,769			21,415,672		20,454,789
CAPITAL MARKETS
Securities Trading Volume (7)	$	325,784		$	307,234		$	3,471,175	$	3,265,446
BANKING
Banking Operations Assets (in billions)	$	82		$	72
INSURANCE
Net Premiums Earned:
Carrier	$	80.0		$	72.9		$	862.2	$	667.3
Reinsurance	20.1			17.0			203.2		164.2
Total Net Premiums Earned	$	100.1		$	89.9		$	1,065.4	$	831.5
Period-end Rates
10-Year U.S. Treasury Yield	4.46		%	4.49		%
FNMA 30-Year Fixed Rate MBS Coupon	5.57		%	5.85		%

(1)  This 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)  These loans are processed for Countrywide Bank by the Company’s Mortgage Banking production divisions and are included in “Total Mortgage Loan Fundings” above. The amounts include loans funded for both investment purposes and for sale. The Company will report the amount of such loans subsequently sold on a quarterly basis.

(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.

###

EX-99.2

Exhibit 99.2

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

	Nov-05	Dec-05	Jan-06	Feb-06	Mar-06	Apr-06	May-06	Jun-06	Jul-06	Aug-06	Sep-06	Oct-06	Nov-06	YTD
LOAN PRODUCTION
Number of Working Days in the Period	21	21	20	19	23	20	22	22	20	23	20	22	21	232

Average Daily Mortgage Loan Applications	$	2,667		$	2,467		$	2,408		$	2,505		$	2,687		$	2,562		$	2,667		$	2,731		$	2,539		$	2,645		$	2,836		$	2,642		$	2,729		$	2,635
Mortgage Loan Pipeline (loans-in-process)	$	68,773		$	59,651		$	57,351		$	59,336		$	64,167		$	63,739		$	65,577		$	64,979		$	62,230		$	64,125		$	65,316		$	60,939		$	62,004
Commercial Real Estate Loan Pipeline (loans-in-process)	$	441		$	297		$	308		$	258		$	203		$	295		$	204		$	305		$	203		$	296		$	227		$	181		$	408
Loan Fundings:
Consumer Markets Division	$	13,656		$	12,735		$	10,304		$	10,809		$	13,513		$	12,413		$	14,170		$	14,708		$	12,978		$	14,021		$	12,436		$	13,669		$	12,809		$	141,830
Wholesale Lending Division	8,171			8,607			7,141			7,159			9,349			8,419			9,083			9,283			7,786			8,193			7,229			7,464			6,650			87,756
Correspondent Lending Division	19,227			18,266			14,233			11,223			15,680			13,263			13,325			15,332			14,023			16,185			16,534			19,399			17,764			166,961
Capital Markets	1,190			4,506			955			1,746			1,306			1,943			1,996			2,674			944			1,782			1,596			576			565			16,083
Total Mortgage Loan Fundings	42,244			44,114			32,633			30,937			39,848			36,038			38,574			41,997			35,731			40,181			37,795			41,108			37,788			412,630
Commercial Real Estate Fundings	647			362			235			268			463			252			281			464			427			273			646			406			863			4,578
Total Loan Fundings	$	42,891		$	44,476		$	32,868		$	31,205		$	40,311		$	36,290		$	38,855		$	42,461		$	36,158		$	40,454		$	38,441		$	41,514		$	38,651		$	417,208
Countrywide Bank Mortgage Loan Fundings (1)	$	3,335		$	4,480		$	4,183		$	3,825		$	4,551		$	4,996		$	8,050		$	11,057		$	11,845		$	13,233		$	11,706		$	17,206		$	15,235		$	105,887
Loan Fundings in Units:
Consumer Markets Division	86,972			81,628			69,073			72,924			88,971			81,216			90,906			92,204			82,294			88,698			78,388			83,206			75,501			903,381
Wholesale Lending Division	39,158			41,380			34,735			34,947			45,660			40,501			43,783			44,785			37,798			40,740			35,448			36,813			32,856			428,066
Correspondent Lending Division	93,705			91,459			71,049			55,858			76,598			65,684			66,904			77,911			71,023			82,777			85,213			96,120			87,847			836,984
Capital Markets	4,588			17,250			3,777			6,737			4,871			7,749			7,509			9,942			3,716			6,978			5,832			2,594			2,198			61,903
Total Mortgage Loan Fundings in Units	224,423			231,717			178,634			170,466			216,100			195,150			209,102			224,842			194,831			219,193			204,881			218,733			198,402			2,230,334
Commercial Real Estate	35			28			26			24			38			32			45			66			40			39			56			97			70			533
Total Loan Fundings in Units	224,458			231,745			178,660			170,490			216,138			195,182			209,147			224,908			194,871			219,232			204,937			218,830			198,472			2,230,867
Countrywide Bank Mortgage Loan Units (1)	30,038			35,116			31,622			30,707			37,008			37,913			57,918			75,386			74,781			82,746			73,642			99,553			85,771			687,047
Mortgage Loan Fundings: (2)
Purchase	$	19,409		$	21,086		$	14,410		$	13,527		$	18,412		$	16,462		$	18,251		$	20,710		$	17,228		$	19,368		$	17,627		$	17,287		$	15,832		$	189,114
Non-purchase	22,835			23,028			18,223			17,410			21,436			19,576			20,323			21,287			18,503			20,813			20,168			23,821			21,956			223,516
Total Mortgage Loan Fundings	$	42,244		$	44,114		$	32,633		$	30,937		$	39,848		$	36,038		$	38,574		$	41,997		$	35,731		$	40,181		$	37,795		$	41,108		$	37,788		$	412,630
Mortgage Loan Fundings by Product:
Government Fundings	$	886		$	890		$	856		$	816		$	1,206		$	1,045		$	1,108		$	1,161		$	1,047		$	1,161		$	1,036		$	1,241		$	1,176		$	11,853
ARM Fundings	$	21,052		$	22,356		$	16,835		$	15,682		$	19,098		$	17,312		$	19,508		$	19,936		$	16,936		$	17,978		$	15,486		$	15,471		$	13,817		$	188,059
Home Equity Fundings	$	3,714		$	4,020		$	3,476		$	3,411		$	4,176		$	3,918		$	4,226		$	4,317		$	3,798		$	4,141		$	3,766		$	3,571		$	3,219		$	42,019
Nonprime Fundings	$	3,899		$	4,405		$	3,042		$	2,845		$	3,318		$	3,292		$	3,807		$	4,107		$	3,354		$	3,722		$	3,058		$	3,254		$	3,058		$	36,857
MORTGAGE LOAN SERVICING (3)
Volume	$	1,092,104		$	1,111,090		$	1,126,610		$	1,137,344		$	1,152,651		$	1,164,010		$	1,179,179		$	1,196,720		$	1,210,919		$	1,228,518		$	1,244,311		$	1,263,061		$	1,278,101
Units	7,379,806			7,431,949			7,500,434			7,542,493			7,604,711			7,637,270			7,686,777			7,757,724			7,813,034			7,890,954			7,964,033			8,043,817			8,110,072
Subservicing Volume(4)	$	32,265		$	29,901		$	29,141		$	28,776		$	26,172		$	22,541		$	22,243		$	21,975		$	22,012		$	23,179		$	20,552		$	21,125		$	18,692
Subservicing Units	268,954			261,078			247,185			250,832			238,767			216,296			212,483			209,564			207,213			209,126			193,536			193,170			183,359
Prepayments in Full	$	19,125		$	17,810		$	13,548		$	14,463		$	18,992		$	16,540		$	19,037		$	19,685		$	16,934		$	19,783		$	16,907		$	20,142		$	19,455		$	195,486
Bulk Servicing Acquisitions	$	997		$	1,686		$	40		$	37		$	24		$	16		$	26		$	29		$	34		$	534		$	2,375		$	3,913		$	2,164		$	9,192
Portfolio Delinquency - CHL (5)	4.58		%	4.61		%	4.42		%	4.29		%	3.68		%	4.06		%	3.91		%	3.92		%	4.11		%	4.15		%	4.50		%	4.43		%	4.57		%
Foreclosures Pending - CHL (5)	0.43		%	0.44		%	0.46		%	0.47		%	0.47		%	0.46		%	0.47		%	0.47		%	0.48		%	0.50		%	0.52		%	0.56		%	0.60		%

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

	Nov-05	Dec-05	Jan-06	Feb-06	Mar-06	Apr-06	May-06	Jun-06	Jul-06	Aug-06	Sep-06	Oct-06	Nov-06	YTD
LOAN CLOSING SERVICES (units)
Credit Reports	764,650	657,448	821,967	788,038	952,880	820,238	906,653	893,541	818,603	920,379	788,458	837,157	744,719	9,292,633
Flood Determinations	301,893	294,120	275,546	253,647	325,135	276,384	313,710	316,722	196,237	302,948	273,293	290,196	292,759	3,116,577
Appraisals	105,296	96,598	86,503	80,234	112,836	99,621	116,380	119,292	102,950	117,367	104,930	118,105	110,071	1,168,289
Automated Property Valuation Services	618,304	457,504	967,896	497,300	590,348	1,048,619	527,849	488,613	444,637	939,734	699,238	539,126	902,351	7,645,711
Other	15,626	15,261	15,866	15,718	18,194	12,634	18,536	17,203	15,160	19,918	17,471	21,167	20,595	192,462
Total Units	1,805,769	1,520,931	2,167,778	1,634,937	1,999,393	2,257,496	1,883,128	1,835,371	1,577,587	2,300,346	1,883,390	1,805,751	2,070,495	21,415,672
CAPITAL MARKETS

Securities Trading Volume (6)	$	307,234		$	286,037		$	314,858		$	292,307		$	371,190		$	281,690		$	331,804		$	320,842		$	278,625		$	353,106		$	301,179		$	299,790		$	325,784		$	3,471,175
BANKING
Banking Operations Assets (in billions)	$	72		$	73		$	75		$	75		$	78		$	79		$	80		$	84		$	85		$	87		$	88		$	83		$	82
INSURANCE
Net Premiums Earned:
Carrier	$	72.9		$	105.6		$	79.4		$	73.2		$	75.4		$	73.1		$	72.9		$	83.1		$	75.5		$	92.1		$	76.5		$	81.0		$	80.0		$	862.2
Reinsurance	17.0			16.5			17.0			17.4			17.4			18.7			17.9			18.6			18.4			18.7			19.5			19.5			20.1			203.2
Total Net Premiums Earned	$	89.9		$	122.1		$	96.4		$	90.6		$	92.8		$	91.8		$	90.8		$	101.7		$	93.9		$	110.8		$	96.0		$	100.5		$	100.1		$	1,065.4
Workforce Head Count: (7)(8)
Loan Originations	30,781			30,619			30,721			30,826			31,211			31,789			32,360			32,515			32,253			32,310			32,013			32,395			31,906
Loan Servicing	7,372			7,460			7,590			7,687			7,816			7,771			7,683			7,390			7,138			7,003			6,959			6,951			6,968
Loan Closing Services	1,648			1,648			1,615			1,585			1,589			1,582			1,618			1,709			1,764			1,699			1,665			1,668			1,657
Banking	2,101			2,078			2,156			2,230			2,273			2,342			2,366			2,414			2,463			2,473			2,476			2,075			2,047
Capital Markets	673			683			699			712			726			738			779			809			842			838			858			854			878
Insurance	2,096			2,100			2,139			2,147			2,146			2,089			2,105			2,113			2,124			2,141			2,135			2,095			2,052
Global Operations	3,050			3,251			3,369			1,875			1,989			2,022			2,066			2,034			2,028			2,126			2,291			2,550			2,652
Corporate Overhead & Other	6,501			6,617			6,779			6,897			7,002			7,156			7,286			7,427			7,447			7,319			7,167			6,846			6,802
Total Workforce Head Count	54,222			54,456			55,068			53,959			54,752			55,489			56,263			56,411			56,059			55,909			55,564			55,434			54,962
Period-end Rates
10-Year U.S. Treasury Yield	4.49		%	4.39		%	4.53		%	4.55		%	4.86		%	5.07		%	5.12		%	5.15		%	4.99		%	4.74		%	4.64		%	4.61		%	4.46		%
FNMA 30-Year Fixed Rate MBS Coupon	5.85		%	5.75		%	5.76		%	5.73		%	6.01		%	6.10		%	6.31		%	6.37		%	6.15		%	5.93		%	5.86		%	5.79		%	5.57		%

(1)    These loans are processed for Countrywide Bank by the Company’s Mortgage Banking production divisions and are included in “Total Mortgage Loan Fundings” above. The amounts include loans funded for both investment purposes and for sale.  The Company will report the amount of such loans subsequently sold on a quarterly basis.

(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, including those 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.

(8)    During June 2006, certain Information Technology functions were realigned within the Company.  As a result, certain staff have been reclassified into “Corporate Overhead.”  Prior months’ workforce have been restated to reflect this realignment.

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