Prospectus exerpt:  Each of the 6.75% trust preferred securities, which are referred to in this prospectus supplement as the "preferred securities," represents an undivided beneficial ownership interest in the assets of Countrywide Capital IV, a Delaware statutory trust. Countrywide Financial Corporation, a Delaware corporation, will be the owner of all the common securities of Countrywide Capital IV. Countrywide Financial Corporation and Countrywide Home Loans, Inc., a New York corporation, will effectively guarantee, on a subordinated and joint and several basis, fully and unconditionally, the payment by Countrywide Capital IV of amounts due on the preferred securities as described in this prospectus supplement and the accompanying prospectus.