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                                                                   EXHIBIT 10.85

                              AMENDMENT NUMBER FIVE
                        COUNTRYWIDE FINANCIAL CORPORATION
                             1987 STOCK OPTION PLAN
                   (AMENDED AND RESTATED AS OF JULY 12, 1989)

         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 17 of the Countrywide Financial
Corporation 1987 Stock Option Plan (the "1987 Stock Plan"), the Compensation
Committee of the Board of Directors ("the Committee") shall determine the
appropriate adjustments, if any, to make;

         WHEREAS, the Committee wishes to amend Section 17 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 3, SHARES SUBJECT TO PLAN, of the 1987 Stock Plan is
                  hereby deleted and new Section 3 is inserted in its place as
                  follows:

                           "Subject to Section 17 hereof, the stock to be
                  offered under this Plan shall be authorized but unissued
                  Shares. The aggregate number of Shares issuable under this
                  Plan shall not exceed 2,000,000 Shares, of which no more than
                  1,278,509 may be issuable to directors, subject to adjustment
                  as set forth in Section 17 of this Plan. If any options
                  granted under the Plan shall terminate, expire or be cancelled
                  without having been exercised in full, the Shares not
                  purchased under such options again shall be available for the
                  purpose of the Plan."

         2.       The third paragraph of Section 17 is hereby deleted and a new
                  third paragraph of Section 17 is inserted in its place as
                  follows:

                           "Adjustment under this Section 17 shall be made by
                  the Committee or the Board, whose determination as to what
                  adjustments shall be made, and the extent thereof, shall be
                  final, binding and conclusive. 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."

                      [THE NEXT PAGE IS THE SIGNATURE PAGE]

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         IN WITNESS WHEREOF, The Company has caused this Amendment Number Five
         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 10.86

                              AMENDMENT NUMBER SIX
                        COUNTRYWIDE FINANCIAL CORPORATION
                             1987 STOCK OPTION PLAN
                   (AMENDED AND RESTATED AS OF JULY 12, 1989)

         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 17 of the Countrywide Financial
Corporation 1987 Stock Option Plan (the "1987 Stock Plan"), the Compensation
Committee of the Board of Directors ("the Committee") or the Board shall
determine the appropriate adjustments, if any, to make;

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

         1.       Section 3, SHARES SUBJECT TO PLAN, of the 1987 Stock Plan is
                  hereby deleted and new Section 3 is inserted in its place as
                  follows:

                           "Subject to Section 17 hereof, the stock to be
                  offered under this Plan shall be authorized but unissued
                  Shares. The aggregate number of Shares issuable under this
                  Plan shall not exceed 3,000,000 Shares, of which no more than
                  1,917, 763 may be issuable to directors, subject to adjustment
                  as set forth in Section 17 of this Plan. If any options
                  granted under the Plan shall terminate, expire or be cancelled
                  without having been exercised in full, the Shares not
                  purchased under such options again shall be available for the
                  purpose of the Plan."

         IN WITNESS WHEREOF, The Company has caused this Amendment Number Six 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 10.87

                              AMENDMENT NUMBER TEN
                        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 December 17, 2003,
which represents a 4-for-3 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") 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;

         WHEREAS, the Committee wishes to amend Section 8(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) 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 2,200,000 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)
                  6,667 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 $.76 or (ii)
                  6,667 multiplied by a fraction,

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                  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 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."

                      [THE NEXT PAGE IS THE SIGNATURE PAGE]

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         IN WITNESS WHEREOF, The Company has caused this Amendment Number Ten 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

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