**Exhibit 12.1**

**COUNTRYWIDEFINANCIAL CORPORATION AND SUBSIDIARIES**

**EXHIBIT 12.1—COMPUTATIONOF THE RATIO OF EARNINGS TO FIXED CHARGES**

The following table sets forth the ratio of earningsto fixed charges of the Company for the quarters ended March 31, 2006 and 2005,the years ended December 31, 2005, 2004, 2003, 2002, and the ten-monthperiod ended December 31, 2001, computed by dividing net fixed charges(interest expense on all debt plus the interest element (one-third) ofoperating leases) into earnings (earnings before income taxes and fixedcharges).

| ** **                                | ** ** | **Quarters Ended  March 31,**          | ** ** | **Years Ended  December 31,** | ** ** | **Ten Months  Ended  December 31,** | ** ** |
|-------------------------------------------|------------|--------------------------------------------------|------------|-----------------------------------------|------------|-----------------------------------------------|------------|
| ** **                                | ** ** | **2006**                                         | ** ** | **2005**                                | ** ** | **2005**                                      | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** |
| ** **                                | ** ** | **(dollar amounts in thousands)** | ** ** |
| Net earnings                              |       | $                                                | 683,511    |                                    | $          | 688,852                                       |       | $ | 2,528,090 |   | $ | 2,197,574 |   | $ | 2,372,950 |   | $ | 841,779 |   |   | $ | 486,006 |   |   |
| Income tax expense                        |       | 435,852                                          |       | 460,145                                 |       | 1,619,676                                     |       | 1,398,299 |   | 1,472,822 |   | 501,244 |   |   | 302,613 |   |   |
| Interest expense                          |       | 1,899,323                                        |       | 995,937                                 |       | 5,616,425                                     |       | 2,608,338 |   | 1,940,207 |   | 1,461,066 |   |   | 1,474,719 |   |   |
| Interest portion of rental expense   |       | 17,749                                           |       | 14,197                                  |       | 62,104                                        |       | 53,562 |   | 36,565 |   | 26,671 |   |   | 16,201 |   |   |
| Earnings available to cover fixed charges |       | $                                                | 3,036,435  |                                    | $          | 2,159,131                                     |       | $ | 9,826,295 |   | $ | 6,257,773 |   | $ | 5,822,544 |   | $ | 2,830,760 |   |   | $ | 2,279,539 |   |   |
| Fixed charges:                            |       |                                             |       |                                    |       |                                          |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                          |       | $                                                | 1,899,323  |                                    | $          | 995,937                                       |       | $ | 5,616,425 |   | $ | 2,608,338 |   | $ | 1,940,207 |   | $ | 1,461,066 |   |   | $ | 1,474,719 |   |   |
| Interest portion of rental   expense      |       | 17,749                                           |       | 14,197                                  |       | 62,104                                        |       | 53,562 |   | 36,565 |   | 26,671 |   |   | 16,201 |   |   |
| Total fixed charges                       |       | $                                                | 1,917,072  |                                    | $          | 1,010,134                                     |       | $ | 5,678,529 |   | $ | 2,661,900 |   | $ | 1,976,772 |   | $ | 1,487,737 |   |   | $ | 1,490,920 |   |   |
| Ratio of earnings  to fixed charges  |       | 1.58                                             |       | 2.14                                    |       | 1.73                                          |       | 2.35 |   | 2.95 |   | 1.90 |   |   | 1.53 |   |   |

 

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