-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QQpPTbDMoT3jw3P3rrZ8sRC74GkLqm3rFuLMWZ41JJhg04DZh7kSRsn5KzCiE7Gh 6EjM5Qn8ixzqu1BjBFv+8w== 0001104659-07-027892.txt : 20070412 0001104659-07-027892.hdr.sgml : 20070412 20070412121838 ACCESSION NUMBER: 0001104659-07-027892 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20070412 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070412 DATE AS OF CHANGE: 20070412 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COUNTRYWIDE FINANCIAL CORP CENTRAL INDEX KEY: 0000025191 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] 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: 07762999 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 a07-10497_18k.htm 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): April 12, 2007



 

 

 

 

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 April 12, 2007, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended March 31, 2007, a copy of which is attached as Exhibit 99.1.  On April 12, 2007, 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 March 31, 2007.

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: April 12, 2007

/s/ Lawrence R. Gee

 

 

Lawrence R. Gee

 

 

Managing Director, Technical Accounting

 


EXHIBIT INDEX

Exhibit No.

 

 

 

 

 

99.1

 

Press Release issued by Countrywide Financial Corporation (the “Company”) pertaining to its operational statistics for the month ended March 31, 2007.

99.2

 

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

 


 EX-99.1 2 a07-10497_1ex99d1.htm EX-99.1

Exhibit 99.1

 

NEWS

 

 

 

INVESTOR CONTACT:   (818) 225-3550

 

 

David Bigelow or Lisa Riordan

 

 

MEDIA CONTACT:   (800) 796-8448

 

COUNTRYWIDE REPORTS MARCH 2007 OPERATIONAL RESULTS

CALABASAS, CA (April 12, 2007) — Countrywide Financial Corporation (NYSE: CFC) released operational data for the month ended March 31, 2007.  Key operational results included the following:

·                  Mortgage loan fundings for the month of March totaled $43 billion, an increase of 5 percent from March 2006.

—           Monthly purchase volume was $17 billion, which compares to $19 billion for the year-ago period.

—           Home equity loan fundings were $4.0 billion, down 5 percent from March 2006.

—           Nonprime loan fundings declined 29 percent from March 2006 to $2.4 billion at March 2007.

—           On a consolidated basis, Countrywide funded $3.5 billion in pay-option loans during the month as compared to $8.8 billion in March 2006.  Year-to-date fundings for pay-option loans totaled $9.6 billion, as compared to $22 billion for the same prior year period.  These amounts include pay-option loans that have a fixed rate for five years, which totaled $1.3 billion in March 2007 and $2.3 billion year-to-date.

—           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 for March 2007 was $3.1 billion, up 17 percent from March 2006.  The mortgage loan pipeline was $69 billion at March 31, 2007 as compared to $64 billion at March 31, 2006.

·                  The mortgage loan servicing portfolio continued to grow, totaling $1.4 trillion at March 31, 2007.  This is an increase of $199 billion, or 17 percent, from March 31, 2006.

·                  Banking Operations’ assets were $84 billion at March 31, 2007, which compares to $78 billion at March 31, 2006.

·                  Securities trading volume in the Capital Markets segment of $397 billion for March 2007 was 7 percent higher when compared to the same month last year.

(more)



·                  Net earned premiums from the Insurance segment totaled $112 million, up 21 percent from March 2006.

“The March 2007 and first quarter 2007 operational statistics are reflective of current mortgage market conditions,” said David Sambol, President and Chief Operating Officer.  “Production volume was dominated by refinance and fixed-rate loan activity, which accounted for 60 percent and 66 percent of total mortgage loan originations, respectively, for the month of March 2007, and 62 percent and 64 percent of total mortgage loan originations, respectively, for the first quarter of 2007.  Nonprime fundings continued to decline, accounting for 5 percent of total mortgage loan originations for March 2007 and 7 percent of total mortgage loan originations for the first quarter of 2007.

“The servicing portfolio was $1.4 trillion, which compares to $1.2 trillion one year ago.  Delinquencies on the portfolio (as a percentage of the number of loans serviced) were 4.29 percent for March 2007, which compares to 5.02 percent for December 2006, and 3.68 percent for March 2006.  Historically, delinquencies have trended downward from the fourth quarter to the first quarter due to seasonality.

“While current market conditions are creating short-term volatility in our residential mortgage business, management believes the Company is well-positioned to capitalize upon the longer-term opportunities that are being created as the marketplace rationalizes.”

About Countrywide

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 such as slower or negative home price appreciation; 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; increases in the delinquency rates of borrowers; 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)

 

2



COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES

OPERATING STATISTICS(1)
(Dollars in Millions)

 

 

 

Month Ended `

 

Year-to-Date

 

 

 

March 31
2007

 

March 31
2006

 

March 31
2007

 

March 31
2006

 

LOAN PRODUCTION

 

 

 

 

 

 

 

 

 

Number of Working Days in the Period

 

22

 

23

 

62

 

62

 

Average Daily Mortgage Loan Applications

 

$

3,134

 

$

2,687

 

$

2,990

 

$

2,541

 

Mortgage Loan Pipeline (loans-in-process)

 

$

69,389

 

$

64,167

 

 

 

 

 

Commercial Real Estate Loan Pipeline (loans-in-process)

 

$

3,207

 

$

599

 

 

 

 

 

Loan Fundings (2):

 

 

 

 

 

 

 

 

 

Retail Lending

 

$

14,409

 

$

13,513

 

$

39,011

 

$

34,626

 

Wholesale Lending

 

8,159

 

9,349

 

22,188

 

23,649

 

Correspondent Lending

 

18,616

 

15,680

 

49,773

 

41,136

 

Capital Markets Purchases

 

954

 

1,306

 

1,829

 

4,007

 

Banking Operations Purchases (2)

 

1,144

 

1,570

 

2,163

 

2,114

 

Total Mortgage Loan Fundings

 

43,282

 

41,418

 

114,964

 

105,532

 

Commercial Real Estate Lending

 

664

 

463

 

2,011

 

966

 

Total Loan Fundings

 

$

43,946

 

$

41,881

 

$

116,975

 

$

106,498

 

 

 

 

 

 

 

 

 

 

 

Total Bank Mortgage Loan Fundings (3)

 

$

14,533

 

$

6,121

 

$

43,722

 

$

14,673

 

 

 

 

 

 

 

 

 

 

 

Loan Fundings in Units (2):

 

 

 

 

 

 

 

 

 

Retail Lending

 

80,682

 

88,971

 

218,135

 

230,968

 

Wholesale Lending

 

38,936

 

45,660

 

105,919

 

115,342

 

Correspondent Lending

 

92,391

 

76,598

 

245,999

 

203,505

 

Capital Markets Purchases

 

2,884

 

4,871

 

5,652

 

15,385

 

Banking Operations Purchases (2)

 

7,552

 

4,869

 

19,617

 

6,449

 

Total Mortgage Loan Fundings

 

222,445

 

220,969

 

595,322

 

571,649

 

Commercial Real Estate Lending

 

88

 

38

 

212

 

88

 

Total Loan Fundings

 

222,533

 

221,007

 

595,534

 

571,737

 

 

 

 

 

 

 

 

 

 

 

Total Bank Mortgage Loan Fundings (3)

 

87,660

 

41,877

 

257,659

 

105,786

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loan Fundings (2)(4):

 

 

 

 

 

 

 

 

 

Purchase

 

$

17,265

 

$

18,941

 

$

43,166

 

$

47,010

 

Non-purchase

 

26,017

 

22,477

 

71,798

 

58,522

 

Total Mortgage Loan Fundings

 

$

43,282

 

$

41,418

 

$

114,964

 

$

105,532

 

Mortgage Loan Fundings by Product (2):

 

 

 

 

 

 

 

 

 

Government Fundings

 

$

1,406

 

$

1,206

 

$

3,539

 

$

2,878

 

ARM Fundings

 

$

14,677

 

$

20,668

 

$

40,958

 

$

53,722

 

Home Equity Fundings

 

$

3,976

 

$

4,176

 

$

10,539

 

$

11,063

 

Nonprime Fundings

 

$

2,355

 

$

3,318

 

$

7,881

 

$

9,205

 

 

 

 

 

 

 

 

 

 

 

MORTGAGE LOAN SERVICING (5)

 

 

 

 

 

 

 

 

 

Volume

 

$

1,351,598

 

$

1,152,651

 

 

 

 

 

Units

 

8,438,625

 

7,604,711

 

 

 

 

 

Subservicing Volume (6)

 

$

16,258

 

$

26,172

 

 

 

 

 

Subservicing Units

 

172,916

 

238,767

 

 

 

 

 

Prepayments in Full

 

$

20,896

 

$

18,992

 

$

57,832

 

$

47,003

 

Bulk Servicing Acquisitions

 

$

5,198

 

$

24

 

$

12,437

 

$

101

 

Servicing Portfolio Performance - CHL (7)

 

 

 

 

 

 

 

 

 

Delinquency as a percentage of:

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

4.07

%

3.18

%

 

 

 

 

number of loans serviced

 

4.29

%

3.68

%

 

 

 

 

Foreclosures Pending as a percentage of:

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

0.83

%

0.44

%

 

 

 

 

number of loans serviced

 

0.69

%

0.47

%

 

 

 

 

 

 



COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES

OPERATING STATISTICS(1)
(Dollars in Millions)

 

 

Month Ended `

 

Year-to-Date

 

 

 

March 31
2007

 

March 31
2006

 

March 31
2007

 

March 31
2006

 

LOAN CLOSING SERVICES (units)

 

 

 

 

 

 

 

 

 

Credit Reports

 

1,109,878

 

952,880

 

2,831,068

 

2,562,885

 

Flood Determinations

 

305,214

 

325,135

 

862,851

 

854,328

 

Appraisals

 

123,070

 

112,836

 

336,172

 

279,573

 

Automated Property Valuation Services

 

573,932

 

590,348

 

2,371,180

 

2,055,544

 

Other

 

24,179

 

18,194

 

73,534

 

49,778

 

Total Units

 

2,136,273

 

1,999,393

 

6,474,805

 

5,802,108

 

 

 

 

 

 

 

 

 

 

 

CAPITAL MARKETS

 

 

 

 

 

 

 

 

 

Securities Trading Volume (8)

 

$

396,545

 

$

371,190

 

$

997,942

 

$

978,355

 

 

 

 

 

 

 

 

 

 

 

BANKING

 

 

 

 

 

 

 

 

 

Banking Operations Assets (in billions)

 

$

84

 

$

78

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INSURANCE

 

 

 

 

 

 

 

 

 

Net Premiums Earned:

 

 

 

 

 

 

 

 

 

Carrier

 

$

91.1

 

$

75.4

 

$

270.9

 

$

228.0

 

Reinsurance

 

20.9

 

17.4

 

63.3

 

51.8

 

Total Net Premiums Earned

 

$

112.0

 

$

92.8

 

$

334.2

 

$

279.8

 

 

 

 

 

 

 

 

 

 

 

Period-end Rates

 

 

 

 

 

 

 

 

 

10-Year U.S. Treasury Yield

 

4.65

%

4.86

%

 

 

 

 

FNMA 30-Year Fixed Rate MBS Coupon

 

5.77

%

6.01

%

 

 

 

 

(1) This data reflects 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) During December 2006, the Company began reporting Banking Operations purchases from third parties.
Prior months have been restated to reflect these purchases.

(3) These loans are either processed for Countrywide Bank by the Company’s Mortgage Banking production divisions or purchased from non-affiliates 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.

(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) 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 a07-10497_1ex99d2.htm EX-99.2

Exhibit 99.2

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

 

 

Mar-06

 

Apr-06

 

May-06

 

Jun-06

 

Jul-06

 

Aug-06

 

Sep-06

 

Oct-06

 

Nov-06

 

Dec-06

 

Jan-07

 

Feb-07

 

Mar-07

 

YTD

 

LOAN PRODUCTION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Working Days in the Period

 

23

 

20

 

22

 

22

 

20

 

23

 

20

 

22

 

21

 

20

 

21

 

19

 

22

 

62

 

Average Daily Mortgage Loan Applications

 

$     2,687

 

$     2,562

 

$     2,667

 

$     2,731

 

$     2,539

 

$     2,645

 

$     2,836

 

$     2,642

 

$     2,729

 

$     2,735

 

$     2,820

 

$     3,009

 

$     3,134

 

$     2,990

 

Mortgage Loan Pipeline (loans-in-process)

 

$   64,167

 

$   63,739

 

$   65,577

 

$   64,979

 

$   62,230

 

$   64,125

 

$   65,316

 

$   60,939

 

$   62,004

 

$   57,217

 

$   58,697

 

$   63,945

 

$   69,389

 

 

 

Commercial Real Estate Loan Pipeline (loans-in-process)

 

$        599

 

$        709

 

$     1,116

 

$     1,297

 

$     1,204

 

$     1,730

 

$     1,415

 

$     1,824

 

$     2,232

 

$     1,991

 

$     1,954

 

$     2,381

 

$     3,207

 

 

 

Loan Fundings (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Lending

 

$   13,513

 

$   12,413

 

$   14,170

 

$   14,708

 

$   12,978

 

$   14,021

 

$   12,436

 

$   13,669

 

$   12,809

 

$   13,949

 

$   12,647

 

$   11,955

 

$   14,409

 

$   39,011

 

Wholesale Lending

 

9,349

 

8,419

 

9,083

 

9,283

 

7,786

 

8,193

 

7,229

 

7,464

 

6,650

 

7,781

 

7,155

 

6,874

 

8,159

 

22,188

 

Correspondent Lending

 

15,680

 

13,263

 

13,325

 

15,332

 

14,023

 

16,185

 

16,534

 

19,399

 

17,764

 

18,370

 

16,261

 

14,896

 

18,616

 

49,773

 

Capital Markets Purchases

 

1,306

 

1,943

 

1,996

 

2,674

 

944

 

1,782

 

1,596

 

576

 

565

 

1,575

 

309

 

566

 

954

 

1,829

 

Banking Operations Purchases (1)

 

1,570

 

307

 

159

 

1,434

 

1,212

 

1,345

 

292

 

788

 

490

 

55

 

741

 

278

 

1,144

 

2,163

 

Total Mortgage Loan Fundings

 

41,418

 

36,345

 

38,733

 

43,431

 

36,943

 

41,526

 

38,087

 

41,896

 

38,278

 

41,730

 

37,113

 

34,569

 

43,282

 

114,964

 

Commercial Real Estate Lending

 

463

 

252

 

281

 

464

 

427

 

273

 

646

 

406

 

863

 

1,093

 

654

 

693

 

664

 

2,011

 

Total Loan Fundings

 

$   41,881

 

$   36,597

 

$   39,014

 

$   43,895

 

$   37,370

 

$   41,799

 

$   38,733

 

$   42,302

 

$   39,141

 

$   42,823

 

$   37,767

 

$   35,262

 

$   43,946

 

$ 116,975

 

Total Bank Mortgage Loan Fundings (2)

 

$     6,121

 

$     5,303

 

$     8,209

 

$   12,491

 

$   13,057

 

$   14,578

 

$   11,998

 

$   17,994

 

$   15,725

 

$   15,744

 

$   15,520

 

$   13,669

 

$   14,533

 

$   43,722

 

Loan Fundings in Units (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Lending

 

88,971

 

81,216

 

90,906

 

92,204

 

82,294

 

88,698

 

78,388

 

83,206

 

75,501

 

78,754

 

70,212

 

67,241

 

80,682

 

218,135

 

Wholesale Lending

 

45,660

 

40,501

 

43,783

 

44,785

 

37,798

 

40,740

 

35,448

 

36,813

 

32,856

 

38,199

 

34,318

 

32,665

 

38,936

 

105,919

 

Correspondent Lending

 

76,598

 

65,684

 

66,904

 

77,911

 

71,023

 

82,777

 

85,213

 

96,120

 

87,847

 

89,483

 

80,195

 

73,413

 

92,391

 

245,999

 

Capital Markets Purchases

 

4,871

 

7,749

 

7,509

 

9,942

 

3,716

 

6,978

 

5,832

 

2,594

 

2,198

 

5,860

 

951

 

1,817

 

2,884

 

5,652

 

Banking Operations Purchases (1)

 

4,869

 

5,863

 

2,644

 

25,473

 

3,709

 

5,683

 

807

 

11,463

 

1,527

 

183

 

9,395

 

2,670

 

7,552

 

19,617

 

Total Mortgage Loan Fundings

 

220,969

 

201,013

 

211,746

 

250,315

 

198,540

 

224,876

 

205,688

 

230,196

 

199,929

 

212,479

 

195,071

 

177,806

 

222,445

 

595,322

 

Commercial Real Estate Lending

 

38

 

32

 

45

 

66

 

40

 

39

 

56

 

97

 

70

 

87

 

60

 

64

 

88

 

212

 

Total Loan Fundings

 

221,007

 

201,045

 

211,791

 

250,381

 

198,580

 

224,915

 

205,744

 

230,293

 

199,999

 

212,566

 

195,131

 

177,870

 

222,533

 

595,534

 

Total Bank Mortgage Loan Fundings (2)

 

41,877

 

43,776

 

60,562

 

100,859

 

78,490

 

88,429

 

74,449

 

111,016

 

87,298

 

87,509

 

91,176

 

78,823

 

87,660

 

257,659

 

Mortgage Loan Fundings (1)(3):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase

 

$   18,941

 

$   16,629

 

$   18,334

 

$   21,072

 

$   17,484

 

$   19,605

 

$   17,677

 

$   17,403

 

$   15,960

 

$   17,147

 

$   13,268

 

$   12,633

 

$   17,265

 

$   43,166

 

Non-purchase

 

22,477

 

19,716

 

20,399

 

22,359

 

19,459

 

21,921

 

20,410

 

24,493

 

22,318

 

24,583

 

23,845

 

21,936

 

26,017

 

71,798

 

Total Mortgage Loan Fundings

 

$   41,418

 

$   36,345

 

$   38,733

 

$   43,431

 

$   36,943

 

$   41,526

 

$   38,087

 

$   41,896

 

$   38,278

 

$   41,730

 

$   37,113

 

$   34,569

 

$   43,282

 

$ 114,964

 

Mortgage Loan Fundings by Product (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government Fundings

 

$     1,206

 

$     1,045

 

$     1,108

 

$     1,161

 

$     1,047

 

$     1,161

 

$     1,036

 

$     1,241

 

$     1,176

 

$     1,240

 

$     1,100

 

$     1,033

 

$     1,406

 

$     3,539

 

ARM Fundings

 

$   20,668

 

$   17,344

 

$   19,667

 

$   21,159

 

$   18,125

 

$   19,323

 

$   15,778

 

$   16,259

 

$   14,303

 

$   15,222

 

$   13,748

 

$   12,533

 

$   14,677

 

$   40,958

 

Home Equity Fundings

 

$     4,176

 

$     4,192

 

$     4,367

 

$     5,619

 

$     3,810

 

$     4,275

 

$     3,766

 

$     4,294

 

$     3,219

 

$     3,271

 

$     3,586

 

$     2,977

 

$     3,976

 

$   10,539

 

Nonprime Fundings

 

$     3,318

 

$     3,292

 

$     3,807

 

$     4,107

 

$     3,354

 

$     3,722

 

$     3,058

 

$     3,254

 

$     3,058

 

$     3,739

 

$     2,939

 

$     2,587

 

$     2,355

 

$     7,881

 

MORTGAGE LOAN SERVICING (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volume

 

$ 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

 

$ 1,298,394

 

$ 1,316,579

 

$ 1,332,485

 

$ 1,351,598

 

 

 

Units

 

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

 

8,198,873

 

8,277,857

 

8,347,533

 

8,438,625

 

 

 

Subservicing Volume (5)

 

$   26,172

 

$   22,541

 

$   22,243

 

$   21,975

 

$   22,012

 

$   23,179

 

$   20,552

 

$   21,125

 

$   18,692

 

$   18,275

 

$   17,244

 

$   16,455

 

$   16,258

 

 

 

Subservicing Units

 

238,767

 

216,296

 

212,483

 

209,564

 

207,213

 

209,126

 

193,536

 

193,170

 

183,359

 

179,293

 

174,330

 

170,625

 

172,916

 

 

 

Prepayments in Full

 

$   18,992

 

$   16,540

 

$   19,037

 

$   19,685

 

$   16,934

 

$   19,783

 

$   16,907

 

$   20,142

 

$   19,455

 

$   21,315

 

$   19,126

 

$   17,810

 

$   20,896

 

$   57,832

 

Bulk Servicing Acquisitions

 

$          24

 

$          16

 

$          26

 

$          29

 

$          34

 

$        534

 

$     2,375

 

$     3,913

 

$     2,164

 

$     6,589

 

$     1,103

 

$     6,136

 

$     5,198

 

$   12,437

 

Servicing Portfolio Performance - CHL (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delinquency as a percentage of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

3.18

%

3.56

%

3.36

%

3.40

%

3.61

%

3.65

%

4.04

%

3.97

%

4.15

%

4.60

%

4.32

%

4.48

%

4.07

%

 

 

number of loans serviced

 

3.68

%

4.06

%

3.91

%

3.92

%

4.11

%

4.15

%

4.50

%

4.43

%

4.57

%

5.02

%

4.71

%

4.71

%

4.29

%

 

 

Foreclosures Pending as a percentage of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

0.44

%

0.43

%

0.45

%

0.45

%

0.46

%

0.48

%

0.51

%

0.58

%

0.62

%

0.70

%

0.77

%

0.80

%

0.83

%

 

 

number of loans serviced

 

0.47

%

0.46

%

0.47

%

0.47

%

0.48

%

0.50

%

0.52

%

0.56

%

0.60

%

0.65

%

0.69

%

0.70

%

0.69

%

 

 

 



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

 

 

Mar-06

 

Apr-06

 

May-06

 

Jun-06

 

Jul-06

 

Aug-06

 

Sep-06

 

Oct-06

 

Nov-06

 

Dec-06

 

Jan-07

 

Feb-07

 

Mar-07

 

YTD

 

LOAN CLOSING SERVICES (units)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Reports

 

952,880

 

820,238

 

906,653

 

893,541

 

818,603

 

920,379

 

788,458

 

837,157

 

744,719

 

675,767

 

897,918

 

823,272

 

1,109,878

 

2,831,068

 

Flood Determinations

 

325,135

 

276,384

 

313,710

 

316,722

 

196,237

 

302,948

 

273,293

 

290,196

 

292,759

 

260,263

 

310,340

 

247,297

 

305,214

 

862,851

 

Appraisals

 

112,836

 

99,621

 

116,380

 

119,292

 

102,950

 

117,367

 

104,930

 

118,105

 

110,071

 

109,116

 

108,450

 

104,652

 

123,070

 

336,172

 

Automated Property Valuation Services

 

590,348

 

1,048,619

 

527,849

 

488,613

 

444,637

 

939,734

 

699,238

 

539,126

 

902,351

 

447,833

 

539,439

 

1,257,809

 

573,932

 

2,371,180

 

Other

 

18,194

 

12,634

 

18,536

 

17,203

 

15,160

 

19,918

 

17,471

 

21,167

 

20,595

 

22,031

 

25,756

 

23,599

 

24,179

 

73,534

 

Total Units

 

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

 

1,515,010

 

1,881,903

 

2,456,629

 

2,136,273

 

6,474,805

 

CAPITAL MARKETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Trading Volume (7)

 

$ 371,190

 

$ 281,690

 

$ 331,804

 

$ 320,842

 

$ 278,625

 

$ 353,106

 

$ 301,179

 

$ 299,790

 

$ 325,784

 

$ 361,725

 

$ 312,666

 

$ 288,731

 

$ 396,545

 

$ 997,942

 

BANKING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Banking Operations Assets (in billions)

 

$          78

 

$          79

 

$          80

 

$          84

 

$          85

 

$          87

 

$          88

 

$          83

 

$          82

 

$          83

 

$          83

 

$          84

 

$          84

 

 

 

INSURANCE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Premiums Earned:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrier

 

$       75.4

 

$       73.1

 

$       72.9

 

$       83.1

 

$       75.5

 

$       92.1

 

$       76.5

 

$       81.0

 

$       80.0

 

$       85.6

 

$       90.7

 

$       89.1

 

$       91.1

 

$     270.9

 

Reinsurance

 

17.4

 

18.7

 

17.9

 

18.6

 

18.4

 

18.7

 

19.5

 

19.5

 

20.1

 

20.3

 

20.8

 

21.6

 

20.9

 

63.3

 

Total Net Premiums Earned

 

$       92.8

 

$       91.8

 

$       90.8

 

$     101.7

 

$       93.9

 

$     110.8

 

$       96.0

 

$     100.5

 

$     100.1

 

$     105.9

 

$     111.5

 

$     110.7

 

$     112.0

 

$     334.2

 

Workforce Head Count: (8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Originations

 

31,211

 

31,789

 

32,360

 

32,515

 

32,253

 

32,310

 

32,013

 

32,395

 

31,906

 

31,606

 

31,582

 

31,669

 

31,783

 

 

 

Loan Servicing

 

7,816

 

7,771

 

7,683

 

7,390

 

7,138

 

7,003

 

6,959

 

6,951

 

6,968

 

6,980

 

7,145

 

7,209

 

7,256

 

 

 

Loan Closing Services

 

1,589

 

1,582

 

1,618

 

1,709

 

1,764

 

1,699

 

1,665

 

1,668

 

1,657

 

1,681

 

1,702

 

1,758

 

1,793

 

 

 

Banking

 

2,273

 

2,342

 

2,366

 

2,414

 

2,463

 

2,473

 

2,476

 

2,075

 

2,047

 

1,997

 

2,003

 

2,009

 

2,033

 

 

 

Capital Markets

 

726

 

738

 

779

 

809

 

842

 

838

 

858

 

854

 

878

 

886

 

903

 

928

 

996

 

 

 

Insurance

 

2,146

 

2,089

 

2,105

 

2,113

 

2,124

 

2,141

 

2,135

 

2,095

 

2,052

 

1,980

 

2,040

 

2,068

 

2,106

 

 

 

Global Operations

 

1,989

 

2,022

 

2,066

 

2,034

 

2,028

 

2,126

 

2,291

 

2,550

 

2,652

 

2,784

 

2,817

 

2,834

 

3,052

 

 

 

Corporate Overhead & Other

 

7,002

 

7,156

 

7,286

 

7,427

 

7,447

 

7,319

 

7,167

 

6,846

 

6,802

 

6,741

 

6,793

 

6,836

 

6,904

 

 

 

Total Workforce Head Count

 

54,752

 

55,489

 

56,263

 

56,411

 

56,059

 

55,909

 

55,564

 

55,434

 

54,962

 

54,655

 

54,985

 

55,311

 

55,923

 

 

 

Period-end Rates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10-Year U.S. Treasury Yield

 

4.86

%

5.07

%

5.12

%

5.15

%

4.99

%

4.74

%

4.64

%

4.61

%

4.46

%

4.71

%

4.83

%

4.56

%

4.65

%

 

 

FNMA 30-Year Fixed Rate MBS Coupon

 

6.01

%

6.10

%

6.31

%

6.37

%

6.15

%

5.93

%

5.86

%

5.79

%

5.57

%

5.79

%

5.91

%

5.72

%

5.77

%

 

 

(1)      During December 2006, the Company began reporting Banking Operations purchases from third parties.  Prior months have been restated to reflect these purchases.

(2)      These loans are either processed for Countrywide Bank by the Company’s Mortgage Banking production divisions or purchased from non-affiliates 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)      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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