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                                                                   EXHIBIT 10.88

                             AMENDMENT NUMBER ELEVEN
                        COUNTRYWIDE FINANCIAL CORPORATION
                             1991 STOCK OPTION PLAN

         WHEREAS, the Board of Directors of Countrywide Financial Corporation
(the "Company") declared a stock dividend effective as of April 12, 2004, which
represents a 3-for-2 split of the Company's common stock;

         WHEREAS, pursuant to Section 8(a) of the Countrywide Financial
Corporation 1991 Stock Option Plan (the "1991 Stock Plan"), the Compensation
Committee of the Board of Directors ("the Committee") or the Board shall
conclusively determine the appropriate adjustments, if any, to the maximum
number and class of Shares or other stock or securities with respect to which
Options may be granted under the Plan, the number and class of Shares or other
stock or securities which are subject to outstanding Options granted under the
1991 Plan and the purchase price therefore, if applicable;

         NOW THEREFORE, the Plan is amended to read as follows effective
December 17, 2003.

         1.       Section 4(a) of the Plan is hereby deleted and new Section
                  4(a) is inserted in its place as follows:

                  "(a) The maximum number of Shares that may be made the subject
                  of options granted under the Plan is 3,300,000 Shares or the
                  number and kind of shares of stock or other securities to
                  which such Shares are adjusted upon a change in Capitalization
                  pursuant to Section 8 and the Company shall reserve for the
                  purposes of the Plan, out of its authorized but unissued
                  Shares or out of Shares held in the Company's treasury, or
                  partly out of each, such number of Shares as shall be
                  determined by the Board."

         2.       Section 5(b) of the Plan is hereby deleted and new Section
                  5(b) is inserted in its place as follows:

                  "(b)     Number of Shares. Each Director Option granted shall
                  be in respect of a number of Shares equal to the lesser of (i)
                  10,000 multiplied by a fraction, the numerator of which is the
                  earnings per Share on a fully diluted basis of the Company for
                  the fiscal year of the Company ended immediately before the
                  date of grant of the Director Option (as reported in the
                  audited Financial Statements included in the Company's annual
                  Report on Form 10-K filed with the Securities and Exchange
                  Commission ("SEC"), but in no event less than zero) (the "EPS
                  Numerator Amount) and the denominator of which is $.51 or (ii)
                  10,000 multiplied by a fraction, the numerator of which is the
                  EPS Numerator Amount and the denominator of which is the
                  earnings per share on a fully diluted basis of the Company for
                  the fiscal year immediately preceding the fiscal year in which
                  the EPS Numerator Amount is determined as reported in the

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                  Company's Annual Report on Form 10-K filed with the SEC (in
                  either case adjusted proportionately in the event the Company
                  (a) declares a dividend on the Shares payable in Shares, (b)
                  subdivides the outstanding Shares, (c) combines the
                  outstanding Shares into a smaller number of Shares, or (d)
                  issues any shares of its capital stock in a reclassification
                  of the Shares (including any such reclassification in
                  connection with a consolidation or merger in which the Company
                  is the continuing or surviving corporation))."

         3.       Section 8(a) is hereby deleted and a new Section 8(a) is
                  inserted in its place as follows:

                  "(a) Subject to Section 9, in the event of a Change in
                  Capitalization, the Committee or the Board shall conclusively
                  determine the appropriate adjustments, if any, to the maximum
                  number and class of Shares or other stock or securities with
                  respect to which Options may be granted under the Plan, the
                  number and class of Shares or other stock or securities which
                  are subject to outstanding Options granted under the Plan, and
                  the purchase price therefore, if applicable. In the event the
                  Committee or Board do not otherwise act pursuant to its
                  prescribed authority, that in the event of a stock split, the
                  number of shares available under the Plan or subject to any
                  individual limits or award type limitations shall be
                  automatically adjusted to reflect the ratio of the stock
                  split. Additionally any outstanding Awards shall be adjusted
                  by proportionately increasing the number of shares covered by,
                  and for stock options, proportionately decreasing the exercise
                  price set forth in, the applicable options."

         IN WITNESS WHEREOF, The Company has caused this Amendment Number Eleven
         to be executed by its duly authorized officer this 14th day of April,
         2004.

                                        Countrywide Financial Corporation

                                        By: /s/ Thomas H. Boone
                                            --------------------------------
                                                Thomas H. Boone
                                                Managing Director,
                                                Chief Administrative Officer

/s/ Gerard A. Healy
-----------------------------
Gerard A. Healy
Assistant Secretary<PAGE>

                                                                   EXHIBIT 10.89

                              AMENDMENT NUMBER FOUR
                        COUNTRYWIDE FINANCIAL CORPORATION
                             1992 STOCK OPTION PLAN

         WHEREAS, the Board of Directors of Countrywide Financial Corporation
(the "Company") declared a stock dividend effective as of December 17, 2003,
which represents a 4-for-3 split of the Company's common stock;

         WHEREAS, pursuant to Section 6(a) of the Countrywide Financial
Corporation 1992 Stock Option Plan (the "Plan"), the Compensation Committee of
the Board of Directors ("the Committee") shall conclusively determine the
appropriate adjustments, if any, to the maximum number and class of shares or
other stock or securities with respect to which Options may be granted under the
Plan, the number and class of Shares or other stock or securities which are
subject to outstanding Options granted under the Plan, and the purchase price
therefore, if applicable;

         WHEREAS, the Committee wishes to amend Section 6(a) to enable the Board
to make such adjustments by resolution or alternatively, for such adjustments to
be automatic.

         NOW THEREFORE, the Plan is amended to read as follows effective
December 17, 2003.

         1.       Section 4(a) is hereby deleted and new Section 4(a) is
                  inserted in its place as follows:

                  "(a)     The maximum number of Shares that may be made the
                  subject of Options granted under the Plan is 800,000 Shares
                  (or the number and kind of shares of stock or other securities
                  to which such Shares are adjusted upon a Change in
                  Capitalization pursuant to Section 6) and the Company shall
                  reserve for the purposes of the Plan, out of its authorized
                  but unissued Shares or out of Shares held in the Company's
                  treasury, or partly out of each, such number of Shares as
                  shall be determined by the Board."

         2.       Section 6(a) is hereby deleted and new Section 6(a) is
                  inserted in its place as follows:

                  "(a)     Subject to Section 7, in the event of a Change in
                  Capitalization, the Committee or the Board shall conclusively
                  determine the appropriate adjustments, if any, to the maximum
                  number and class of Shares or other stock or securities with
                  respect to which Options may be granted under the Plan, the
                  number and class of Shares or other stock or securities which
                  are subject to outstanding Options granted under the Plan, and
                  the purchase price therefore, if applicable. In the event the
                  Committee or Board do not

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                  otherwise act pursuant to its prescribed authority, that in
                  the event of a stock split, the number of shares available
                  under the Plan or subject to any individual limits or award
                  type limitations shall be automatically adjusted to reflect
                  the ratio of the stock split. Additionally any outstanding
                  Awards shall be adjusted by proportionately increasing the
                  number of shares covered by, and for stock options,
                  proportionately decreasing the exercise price set forth in,
                  the applicable options."

         IN WITNESS WHEREOF, The Company has caused this Amendment Number Four
         to be executed by its duly authorized officer this 14th day of April,
         2004.

                                        Countrywide Financial Corporation

                                        By: /s/ Thomas H. Boone
                                            ------------------------------------
                                                Thomas H. Boone
                                                Senior Managing Director,
                                                Chief Administrative Officer

/s/ Gerard A. Healy
-----------------------------------
Gerard A. Healy
Assistant Secretary

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