-----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, Mv0RUUxxq5NN1g2YOeOmSepxTDhXUi5rCOTs2O4y80jF5Ee1FNCSr1Y29N4e3qEB qVLWKaZupy5RwAlTPYleCQ== 0001104659-07-082416.txt : 20071113 0001104659-07-082416.hdr.sgml : 20071112 20071113144220 ACCESSION NUMBER: 0001104659-07-082416 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20071113 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071113 DATE AS OF CHANGE: 20071113 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: 071237156 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 a07-29218_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): November 13, 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 November 13, 2007, Countrywide Financial Corporation (the “Company”) issued a press release announcing information regarding its operational statistics for the month ended October 31, 2007, a copy of which is attached as Exhibit 99.1. On November 13, 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 October 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: November 13, 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 October 31, 2007.

 

 

99.2

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

 

 

 

 

 

 EX-99.1 2 a07-29218_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 OCTOBER 2007 OPERATIONAL RESULTS

 

CALABASAS, CA (November 13, 2007) — Countrywide Financial Corporation (NYSE: CFC) released operational data for the month ended October 31, 2007.  Key operational results included the following:

 

•                  Mortgage loan fundings for the month of October 2007 totaled $22 billion, a 48 percent decline from October 2006.

 

•                  Average daily mortgage loan application activity for October 2007 was $1.8 billion, a 34 percent decrease from October 2006.  The mortgage loan pipeline was $41 billion at October 31, 2007, as compared to $61 billion for the same period last year.

 

•                  The mortgage loan servicing portfolio continued to grow, reaching $1.47 trillion at October 31, 2007.  This is an increase of $202 billion, or 16 percent, from October 31, 2006.

 

•                  Banking Operations’ assets were $106 billion at October 31, 2007, which compares to $83 billion at October 31, 2006.

 

•                  Securities trading volume in the Capital Markets segment of $260 billion for October 2007 was 13 percent lower when compared to the same month last year.

 

•                  Net earned premiums from the Insurance segment were $136 million in October 2007, up 35 percent from October 2006.

 

“October’s operating results continue to be indicative of current market trends,” said David Sambol, President and Chief Operating Officer.  “Total fundings were down substantially on a year-over-year basis, but were up 4 percent from the prior month, and production funded through the Bank has now surpassed 90 percent of total fundings.  Average daily applications and the mortgage loan pipeline were essentially flat from the prior month.  At $42 million, subprime fundings for the month of October 2007 were just 0.2 percent of total mortgage loan fundings.”

 

“Countrywide continues to work diligently toward mitigating the consequences our borrowers are facing as a result of the current market conditions,” Sambol continued.  “As such, we have recently launched

 

 

Investor Relations

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

http://www.countrywide.com

 Countrywide Home Loans, Inc. and Countrywide Bank, FSB are Equal Housing Lenders. ã2007 Countrywide Financial Corporation.
 Trade/service marks are the property of Countrywide Financial Corporation and/or its subsidiaries.  All rights reserved.

 

 


 

 

our $16 billion home ownership preservation initiative to help borrowers facing, or who have already experienced, interest rate resets.  We have also reached out to the community at large through various partnership initiatives with consumer housing groups such as the Neighborhood Assistance Corporation of America, the Homeownership Preservation Foundation, and NeighborWorks® America.”

 

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 residential and commercial 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, financial results, 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: increased cost of debt; reduced access to corporate debt markets or other sources of liquidity; unforeseen cash or capital requirements; a reduction in secondary mortgage market investor demand; increased credit losses due to downward trends in the economy and in the real estate market; increases in the delinquency rates of borrowers; 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; reduction in government support of homeownership; the level and volatility of interest rates; changes in interest rate paths; changes in debt ratings; changes in generally accepted accounting principles or in the legal, regulatory and legislative environments in which Countrywide operates; the judgments and assumptions made by management regarding accounting estimates and related matters; 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 or any other information contained herein, and the statements made in this press release are current as of the date of this release only.

(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, FSB are Equal Housing Lenders. ã2007 Countrywide Financial Corporation.
Trade/service marks are the property of Countrywide Financial Corporation and/or its subsidiaries.  All rights reserved.

 

 


 

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES

OPERATING STATISTICS(1)

(Dollars in Millions)

 

 

 

 

Month Ended

 

Year-to-Date

 

 

 

October 31

 

October 31

 

October 31

 

October 31

 

 

 

2007

 

2006

 

2007

 

2006

 

LOAN PRODUCTION

 

 

 

 

 

 

 

 

 

Number of Working Days in the Period

 

23

 

22

 

212

 

211

 

Average Daily Mortgage Loan Applications

 

$

1,753

 

$

2,642

 

$

2,664

 

$

2,626

 

Mortgage Loan Pipeline (loans-in-process)

 

$

41,127

 

$

60,939

 

 

 

 

 

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

 

$

752

 

$

1,824

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Fundings (2):

 

 

 

 

 

 

 

 

 

Retail Lending

 

$

9,597

 

$

13,669

 

$

125,619

 

$

129,021

 

Wholesale Lending

 

3,220

 

7,464

 

64,128

 

81,106

 

Correspondent Lending

 

9,028

 

19,399

 

163,246

 

149,197

 

Capital Markets Purchases

 

85

 

576

 

4,972

 

15,518

 

Banking Operations Purchases (2)

 

33

 

788

 

3,756

 

7,651

 

Total Mortgage Loan Fundings

 

21,963

 

41,896

 

361,721

 

382,493

 

Commercial Real Estate Lending

 

405

 

406

 

7,119

 

3,715

 

Total Loan Fundings

 

$

22,368

 

$

42,302

 

$

368,840

 

$

386,208

 

 

 

 

 

 

 

 

 

 

 

Total Bank Loan Fundings (3)

 

$

20,289

 

$

17,994

 

$

187,741

 

$

98,303

 

 

 

 

 

 

 

 

 

 

 

Loan Fundings in Units (2):

 

 

 

 

 

 

 

 

 

Retail Lending

 

56,626

 

83,206

 

739,798

 

827,880

 

Wholesale Lending

 

16,119

 

36,813

 

312,363

 

395,210

 

Correspondent Lending

 

44,540

 

96,120

 

820,562

 

749,137

 

Capital Markets Purchases

 

145

 

2,594

 

15,726

 

59,705

 

Banking Operations Purchases (2)

 

—

 

11,463

 

37,597

 

62,091

 

Total Mortgage Loan Fundings

 

117,430

 

230,196

 

1,926,046

 

2,094,023

 

Commercial Real Estate Lending

 

66

 

97

 

1,006

 

463

 

Total Loan Fundings

 

117,496

 

230,293

 

1,927,052

 

2,094,486

 

 

 

 

 

 

 

 

 

 

 

Total Bank Loan Fundings (3)

 

109,892

 

111,016

 

1,089,277

 

663,367

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loan Fundings (2)(4):

 

 

 

 

 

 

 

 

 

Purchase

 

$

9,304

 

$

17,403

 

$

153,258

 

$

175,214

 

Non-purchase

 

12,659

 

24,493

 

208,463

 

207,279

 

Total Mortgage Loan Fundings

 

$

21,963

 

$

41,896

 

$

361,721

 

$

382,493

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loan Fundings by Product (2):

 

 

 

 

 

 

 

 

 

Government Fundings

 

$

2,129

 

$

1,241

 

$

17,504

 

$

10,677

 

ARM Fundings

 

$

3,095

 

$

16,259

 

$

102,228

 

$

181,377

 

Home Equity Fundings

 

$

1,357

 

$

4,294

 

$

31,232

 

$

41,386

 

Nonprime Fundings

 

$

42

 

$

3,254

 

$

16,970

 

$

33,799

 

 

 

 

 

 

 

 

 

 

 

MORTGAGE LOAN SERVICING (5)

 

 

 

 

 

 

 

 

 

Volume

 

$

1,465,009

 

$

1,263,061

 

 

 

 

 

Units

 

8,999,292

 

8,043,817

 

 

 

 

 

Subservicing Volume (6)

 

$

24,722

 

$

21,125

 

 

 

 

 

Subservicing Units

 

229,428

 

193,170

 

 

 

 

 

Prepayments in Full

 

$

12,722

 

$

20,142

 

$

173,018

 

$

176,031

 

Bulk Servicing Acquisitions

 

$

36

 

$

3,913

 

$

21,698

 

$

7,028

 

Servicing Portfolio Performance - CHL (7)

 

 

 

 

 

 

 

 

 

Delinquency as a percentage of:

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

5.94

%

3.97

%

 

 

 

 

number of loans serviced

 

5.89

%

4.43

%

 

 

 

 

Foreclosures Pending as a percentage of:

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

1.23

%

0.58

%

 

 

 

 

number of loans serviced

 

0.89

%

0.56

%

 

 

 

 

 

(more)

 


 

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES

OPERATING STATISTICS(1)

(Dollars in Millions)

 

 

 

 

Month Ended

 

Year-to-Date

 

 

 

October 31

 

October 31

 

October 31

 

October 31

 

 

 

2007

 

2006

 

2007

 

2006

 

LOAN CLOSING SERVICES (units)

 

 

 

 

 

 

 

 

 

Credit Reports

 

811,634

 

837,157

 

9,501,252

 

8,547,914

 

Flood Determinations

 

214,924

 

290,196

 

2,835,294

 

2,823,818

 

Appraisals

 

154,968

 

118,105

 

1,314,704

 

1,058,218

 

Automated Property Valuation Services

 

5,793,171

 

539,126

 

13,477,097

 

6,743,360

 

Other

 

30,662

 

21,167

 

281,198

 

171,867

 

Total Units

 

7,005,359

 

1,805,751

 

27,409,545

 

19,345,177

 

 

 

 

 

 

 

 

 

 

 

CAPITAL MARKETS

 

 

 

 

 

 

 

 

 

Securities Trading Volume (8)

 

$

260,243

 

$

299,790

 

$

3,424,570

 

$

3,145,391

 

 

 

 

 

 

 

 

 

 

 

BANKING

 

 

 

 

 

 

 

 

 

Banking Operations Assets (in billions)

 

$

106

 

$

83

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INSURANCE

 

 

 

 

 

 

 

 

 

Net Premiums Earned:

 

 

 

 

 

 

 

 

 

Carrier

 

$

108.5

 

$

81.0

 

$

982.3

 

$

782.2

 

Reinsurance

 

27.6

 

19.5

 

230.3

 

183.1

 

Total Net Premiums Earned

 

$

136.1

 

$

100.5

 

$

1,212.6

 

$

965.3

 

 

 

 

 

 

 

 

 

 

 

Period-end Rates

 

 

 

 

 

 

 

 

 

10-Year U.S. Treasury Yield

 

4.48

%

4.61

%

 

 

 

 

FNMA 30-Year Fixed Rate MBS Coupon

 

5.84

%

5.79

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 processed for Countrywide Bank by the Company’s Mortgage Banking production divisions and Countrywide Commercial Real Estate Finance, Inc., purchased from non-affiliates or originated by Countrywide Bank and are included in “Total Loan Fundings” above. The amounts include loans funded for both investment and for sale and commercial real estate loans processed by Countrywide Bank. 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. Delinquencies as a percentage of unpaid principal balance and numbers of loans serviced exclude loans in foreclosure.

(8)

Includes trades with Mortgage Banking Segment.

 

###

 

 

 

 EX-99.2 3 a07-29218_1ex99d2.htm EX-99.2

 

Exhibit 99.2

 

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES

ROLLING THIRTEEN MONTH STATISTICAL DATA

(Dollars in millions)

 

 

 

 

 

Oct-06 

 

 

Nov-06 

 

 

Dec-06

 

 

Jan-07 

 

 

Feb-07 

 

 

Mar-07 

 

 

Apr-07 

 

 

May-07 

 

 

Jun-07 

 

 

Jul-07 

 

 

Aug-07 

 

 

Sep-07 

 

 

Oct-07 

 

 

YTD 

 

LOAN PRODUCTION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Working Days in the Period

 

 

22

 

 

21

 

 

20

 

 

21

 

 

19

 

 

22

 

 

21

 

 

22

 

 

21

 

 

21

 

 

23

 

 

19

 

 

23

 

 

212

 

Average Daily Mortgage Loan Applications

 

$

2,642

 

$

2,729

 

$

2,735

 

$

2,820

 

$

3,009

 

$

3,134

 

$

2,937

 

$

3,126

 

$

3,144

 

$

2,662

 

$

2,334

 

$

1,740

 

$

1,753

 

$

2,664

 

Mortgage Loan Pipeline (loans-in-process)

 

$

60,939

 

$

62,004

 

$

57,217

 

$

58,697

 

$

63,945

 

$

69,389

 

$

68,747

 

$

69,744

 

$

68,533

 

$

62,295

 

$

51,828

 

$

41,507

 

$

41,127

 

 

 

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

 

$

1,824

 

$

2,232

 

$

1,991

 

$

1,954

 

$

2,381

 

$

3,207

 

$

2,845

 

$

2,319

 

$

2,206

 

$

2,211

 

$

1,613

 

$

1,323

 

$

752

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Fundings (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Lending

 

$

13,669

 

$

12,809

 

$

13,949

 

$

12,647

 

$

11,955

 

$

14,409

 

$

13,578

 

$

14,377

 

$

14,043

 

$

12,667

 

$

13,016

 

$

9,330

 

$

9,597

 

$

125,619

 

Wholesale Lending

 

7,464

 

6,650

 

7,781

 

7,155

 

6,874

 

8,159

 

7,963

 

8,077

 

7,413

 

6,603

 

5,564

 

3,100

 

3,220

 

64,128

 

Correspondent Lending

 

19,399

 

17,764

 

18,370

 

16,261

 

14,896

 

18,616

 

18,294

 

20,803

 

21,875

 

19,267

 

15,597

 

8,609

 

9,028

 

163,246

 

Capital Markets Purchases

 

576

 

565

 

1,575

 

309

 

566

 

954

 

192

 

884

 

1,558

 

147

 

140

 

137

 

85

 

4,972

 

Banking Operations Purchases (1)

 

788

 

490

 

55

 

741

 

278

 

1,144

 

453

 

279

 

374

 

377

 

34

 

43

 

33

 

3,756

 

Total Mortgage Loan Fundings

 

41,896

 

38,278

 

41,730

 

37,113

 

34,569

 

43,282

 

40,480

 

44,420

 

45,263

 

39,061

 

34,351

 

21,219

 

21,963

 

361,721

 

Commercial Real Estate Lending

 

406

 

863

 

1,093

 

654

 

693

 

664

 

930

 

1,157

 

814

 

803

 

757

 

242

 

405

 

7,119

 

Total Loan Fundings

 

$

42,302

 

$

39,141

 

$

42,823

 

$

37,767

 

$

35,262

 

$

43,946

 

$

41,410

 

$

45,577

 

$

46,077

 

$

39,864

 

$

35,108

 

$

21,461

 

$

22,368

 

$

368,840

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Bank Loan Fundings (2)

 

$

17,994

 

$

15,725

 

$

15,744

 

$

15,520

 

$

13,669

 

$

14,533

 

$

16,048

 

$

19,325

 

$

20,699

 

$

21,080

 

$

27,396

 

$

19,182

 

$

20,289

 

$

187,741

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Fundings in Units (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Lending

 

83,206

 

75,501

 

78,754

 

70,212

 

67,241

 

80,682

 

78,759

 

85,901

 

83,664

 

78,962

 

81,231

 

56,520

 

56,626

 

739,798

 

Wholesale Lending

 

36,813

 

32,856

 

38,199

 

34,318

 

32,665

 

38,936

 

38,582

 

39,513

 

36,209

 

32,769

 

27,408

 

15,844

 

16,119

 

312,363

 

Correspondent Lending

 

96,120

 

87,847

 

89,483

 

80,195

 

73,413

 

92,391

 

90,113

 

102,422

 

109,615

 

102,021

 

82,938

 

42,914

 

44,540

 

820,562

 

Capital Markets Purchases

 

2,594

 

2,198

 

5,860

 

951

 

1,817

 

2,884

 

738

 

3,336

 

4,651

 

508

 

470

 

226

 

145

 

15,726

 

Banking Operations Purchases (1)

 

11,463

 

1,527

 

183

 

9,395

 

2,670

 

7,552

 

2,723

 

2,110

 

6,638

 

6,345

 

164

 

—

 

—

 

37,597

 

Total Mortgage Loan Fundings

 

230,196

 

199,929

 

212,479

 

195,071

 

177,806

 

222,445

 

210,915

 

233,282

 

240,777

 

220,605

 

192,211

 

115,504

 

117,430

 

1,926,046

 

Commercial Real Estate Lending

 

97

 

70

 

87

 

60

 

64

 

88

 

89

 

170

 

137

 

103

 

141

 

88

 

66

 

1,006

 

Total Loan Fundings

 

230,293

 

199,999

 

212,566

 

195,131

 

177,870

 

222,533

 

211,004

 

233,452

 

240,914

 

220,708

 

192,352

 

115,592

 

117,496

 

1,927,052

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Bank Loan Fundings (2)

 

111,016

 

87,298

 

87,509

 

91,176

 

78,823

 

87,660

 

94,593

 

111,041

 

121,778

 

132,506

 

156,255

 

105,553

 

109,892

 

1,089,277

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loan Fundings (1)(3):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase

 

$

17,403

 

$

15,960

 

$

17,147

 

$

13,268

 

$

12,633

 

$

17,265

 

$

15,866

 

$

18,642

 

$

20,739

 

$

18,711

 

$

17,193

 

$

9,637

 

$

9,304

 

$

153,258

 

Non-purchase

 

24,493

 

22,318

 

24,583

 

23,845

 

21,936

 

26,017

 

24,614

 

25,778

 

24,524

 

20,350

 

17,158

 

11,582

 

12,659

 

208,463

 

Total Mortgage Loan Fundings

 

$

41,896

 

$

38,278

 

$

41,730

 

$

37,113

 

$

34,569

 

$

43,282

 

$

40,480

 

$

44,420

 

$

45,263

 

$

39,061

 

$

34,351

 

$

21,219

 

$

21,963

 

$

361,721

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loan Fundings by Product (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government Fundings

 

$

1,241

 

$

1,176

 

$

1,240

 

$

1,100

 

$

1,033

 

$

1,406

 

$

1,532

 

$

1,937

 

$

2,216

 

$

2,296

 

$

2,198

 

$

1,657

 

$

2,129

 

$

17,504

 

ARM Fundings

 

$

16,259

 

$

14,303

 

$

15,222

 

$

13,748

 

$

12,533

 

$

14,677

 

$

11,424

 

$

10,667

 

$

12,599

 

$

10,972

 

$

8,687

 

$

3,826

 

$

3,095

 

$

102,228

 

Home Equity Fundings

 

$

4,294

 

$

3,219

 

$

3,271

 

$

3,586

 

$

2,977

 

$

3,976

 

$

3,480

 

$

3,382

 

$

3,734

 

$

3,928

 

$

3,212

 

$

1,600

 

$

1,357

 

$

31,232

 

Nonprime Fundings

 

$

3,254

 

$

3,058

 

$

3,739

 

$

2,939

 

$

2,587

 

$

2,355

 

$

1,682

 

$

2,186

 

$

1,853

 

$

1,804

 

$

1,267

 

$

255

 

$

42

 

$

16,970

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MORTGAGE LOAN SERVICING (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volume

 

$

1,263,061

 

$

1,278,101

 

$

1,298,394

 

$

1,316,579

 

$

1,332,485

 

$

1,351,598

 

$

1,370,760

 

$

1,392,756

 

$

1,415,472

 

$

1,434,099

 

$

1,454,121

 

$

1,459,136

 

$

1,465,009

 

 

 

Units

 

8,043,817

 

8,110,072

 

8,198,873

 

8,277,857

 

8,347,533

 

8,438,625

 

8,522,364

 

8,625,522

 

8,737,534

 

8,840,474

 

8,964,565

 

8,982,308

 

8,999,292

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subservicing Volume (5)

 

$

21,125

 

$

18,692

 

$

18,275

 

$

17,244

 

$

16,455

 

$

16,258

 

$

16,338

 

$

16,144

 

$

16,263

 

$

17,294

 

$

23,530

 

$

22,921

 

$

24,722

 

 

 

Subservicing Units

 

193,170

 

183,359

 

179,293

 

174,330

 

170,625

 

172,916

 

171,381

 

169,041

 

168,026

 

173,490

 

224,476

 

220,898

 

229,428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepayments in Full

 

$

20,142

 

$

19,455

 

$

21,315

 

$

19,126

 

$

17,810

 

$

20,896

 

$

20,088

 

$

21,135

 

$

18,577

 

$

16,636

 

$

15,199

 

$

10,829

 

$

12,722

 

$

173,018

 

Bulk Servicing Acquisitions

 

$

3,913

 

$

2,164

 

$

6,589

 

$

1,103

 

$

6,136

 

$

5,198

 

$

2,962

 

$

2,650

 

$

2,401

 

$

42

 

$

1,106

 

$

64

 

$

36

 

$

21,698

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Servicing Portfolio Performance - CHL (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delinquency as a percentage of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

3.97

%

4.15

%

4.60

%

4.32

%

4.48

%

4.07

%

4.23

%

4.44

%

4.77

%

4.89

%

4.90

%

5.85

%

5.94

%

 

 

number of loans serviced

 

4.43

%

4.57

%

5.02

%

4.71

%

4.71

%

4.29

%

4.45

%

4.71

%

4.98

%

5.10

%

5.05

%

5.87

%

5.89

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreclosures Pending as a percentage of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

unpaid principal balance

 

0.58

%

0.62

%

0.70

%

0.77

%

0.80

%

0.83

%

0.85

%

0.90

%

0.96

%

1.04

%

1.20

%

1.27

%

1.23

%

 

 

number of loans serviced

 

0.56

%

0.60

%

0.65

%

0.69

%

0.70

%

0.69

%

0.69

%

0.71

%

0.74

%

0.79

%

0.89

%

0.92

%

0.89

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES

ROLLING THIRTEEN MONTH STATISTICAL DATA

(Dollars in millions)

 

 

 

 

Oct-06 

 

 

Nov-06 

 

 

Dec-06 

 

 

Jan-07 

 

 

Feb-07 

 

 

Mar-07 

 

 

Apr-07 

 

 

May-07 

 

 

Jun-07 

 

 

Jul-07 

 

 

Aug-07 

 

 

Sep-07 

 

 

Oct-07 

 

 

YTD 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOAN CLOSING SERVICES (units)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Reports

 

837,157

 

744,719

 

675,767

 

897,918

 

823,272

 

1,109,878

 

982,765

 

1,023,073

 

1,026,845

 

1,007,235

 

1,071,685

 

746,947

 

811,634

 

9,501,252

 

Flood Determinations

 

290,196

 

292,759

 

260,263

 

310,340

 

247,297

 

305,214

 

274,407

 

342,574

 

293,131

 

282,930

 

287,852

 

276,625

 

214,924

 

2,835,294

 

Appraisals

 

118,105

 

110,071

 

109,116

 

108,450

 

104,652

 

123,070

 

116,062

 

125,420

 

126,686

 

158,876

 

164,453

 

132,067

 

154,968

 

1,314,704

 

Automated Property Valuation Services

 

539,126

 

902,351

 

447,833

 

539,439

 

1,257,809

 

573,932

 

634,281

 

1,003,475

 

698,273

 

668,721

 

1,056,932

 

1,251,064

 

5,793,171

 

13,477,097

 

Other

 

21,167

 

20,595

 

22,031

 

25,756

 

23,599

 

24,179

 

24,020

 

26,640

 

27,245

 

31,474

 

37,356

 

30,267

 

30,662

 

281,198

 

Total Units

 

1,805,751

 

2,070,495

 

1,515,010

 

1,881,903

 

2,456,629

 

2,136,273

 

2,031,535

 

2,521,182

 

2,172,180

 

2,149,236

 

2,618,278

 

2,436,970

 

7,005,359

 

27,409,545

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CAPITAL MARKETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Trading Volume (7)

 

$

299,790

 

$

325,784

 

$

361,725

 

$

312,666

 

$

288,731

 

$

396,545

 

$

308,694

 

$

350,850

 

$

450,200

 

$

370,513

 

$

413,899

 

$

272,229

 

$

260,243

 

$

3,424,570

 

BANKING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Banking Operations Assets (in billions)

 

$

83

 

$

82

 

$

83

 

$

83

 

$

84

 

$

84

 

$

86

 

$

87

 

$

90

 

$

90

 

$

94

 

$

105

 

$

106

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INSURANCE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Premiums Earned:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrier

 

$

81.0

 

$

80.0

 

$

85.6

 

$

90.7

 

$

89.1

 

$

91.1

 

$

89.3

 

$

95.7

 

$

102.0

 

$

100.3

 

$

110.1

 

$

105.5

 

$

108.5

 

$

982.3

 

Reinsurance

 

 

19.5

 

 

20.1

 

 

20.3

 

 

20.8

 

 

21.6

 

 

20.9

 

 

20.9

 

 

21.9

 

 

22.6

 

 

23.3

 

 

24.7

 

 

26.0

 

 

27.6

 

 

230.3

 

Total Net Premiums Earned

 

$

100.5

 

$

100.1

 

$

105.9

 

$

111.5

 

$

110.7

 

$

112.0

 

$

110.2

 

$

117.6

 

$

124.6

 

$

123.6

 

$

134.8

 

$

131.5

 

$

136.1

 

$

1,212.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Workforce Head Count: (8)

 

32,395

 

31,906

 

31,606

 

31,633

 

31,721

 

31,849

 

32,641

 

32,966

 

33,796

 

34,326

 

33,658

 

28,322

 

25,688

 

 

 

Loan Originations

 

6,951

 

6,968

 

6,980

 

7,145

 

7,209

 

7,256

 

7,453

 

7,818

 

7,897

 

8,059

 

8,182

 

8,283

 

8,493

 

 

 

Loan Servicing

 

1,668

 

1,657

 

1,681

 

1,702

 

1,758

 

1,793

 

1,851

 

1,858

 

1,935

 

2,029

 

1,984

 

1,827

 

1,829

 

 

 

Loan Closing Services

 

2,075

 

2,047

 

1,997

 

1,952

 

1,957

 

1,967

 

2,057

 

2,377

 

2,496

 

2,491

 

2,291

 

2,399

 

2,619

 

 

 

Banking

 

854

 

878

 

886

 

903

 

928

 

996

 

1,035

 

1,064

 

1,098

 

1,136

 

1,123

 

895

 

883

 

 

 

Capital Markets

 

2,095

 

2,052

 

1,980

 

2,040

 

2,068

 

2,106

 

2,143

 

2,211

 

2,219

 

2,296

 

2,273

 

2,331

 

2,449

 

 

 

Insurance

 

2,550

 

2,652

 

2,784

 

2,817

 

2,834

 

3,052

 

3,477

 

3,646

 

3,770

 

3,891

 

4,055

 

4,120

 

4,408

 

 

 

Global Operations

 

6,846

 

6,802

 

6,741

 

6,793

 

6,836

 

6,904

 

7,025

 

7,071

 

7,216

 

7,358

 

7,301

 

6,675

 

6,406

 

 

 

Corporate Overhead & Other

 

55,434

 

54,962

 

54,655

 

54,985

 

55,311

 

55,923

 

57,682

 

59,011

 

60,427

 

61,586

 

60,867

 

54,852

 

52,775

 

 

 

Total Workforce Head Count

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Period-end Rates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10-Year U.S. Treasury Yield

 

4.61

%

4.46

%

4.71

%

4.83

%

4.56

%

4.65

%

4.63

%

4.90

%

5.03

%

4.78

%

4.54

%

4.59

%

4.48

%

 

 

FNMA 30-Year Fixed Rate MBS Coupon

 

5.79

%

5.57

%

5.79

%

5.91

%

5.72

%

5.77

%

5.76

%

6.04

%

6.26

%

6.21

%

6.01

%

5.97

%

5.84

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 processed for Countrywide Bank by the Company’s Mortgage Banking production divisions and Countrywide Commercial Real Estate Finance, Inc., purchased from non-affiliates or originated by Countrywide Bank and are included in “Total Loan Fundings” above. The amounts include loans funded for both investment and for sale and commercial real estate loans processed by Countrywide Bank. 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. Delinquencies as a percentage of unpaid principal balance and numbers of loans serviced exclude loans in foreclosure.

(7)

Includes trades with Mortgage Banking Segment.

(8)

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

 

# # #

 

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