Countrywide Bank Expands New Jersey Presence With Additional Location in Livingston

THOUSAND OAKS, Calif.,-- Countrywide Bank, N.A., today announced its continued Northeast expansion with the opening of a new financial center in Livingston, New Jersey. Further solidifying the company's presence in the state, this opening complements the five existing centers, located in Cherry Hill, Morristown, Paramus, Wayne and Westfield. The Livingston financial center is located at 171 South Livingston Avenue.

"We have created a cost-effective delivery channel to offer consumers what they value most -- consistently high rates on savings and deposit products and personalized customer service," said Tim Wennes, chief operating officer for Countrywide Bank. "New Jersey residents have been very responsive to this unique offering, creating the need for a more robust physical presence in this market."

Since its launch in 2001, Countrywide Bank has grown from $75 million in assets to more than $73 billion, and now ranks among the top banks in the nation*. The company's distinctive business model leverages parent company Countrywide Financial Corporation's existing infrastructure. The unique low-overhead strategy of providing small, expertly staffed financial centers instead of large, costly, traditional bank branches helps pass the savings on to consumers in the form of higher-rate CDs and other savings products.

Countrywide, through its family of companies, offers consumers diverse products, including high-rate CDs, money market and retirement accounts, as well as home loans and quality investment and insurance products.

Countrywide Bank's innovative financial centers offer access to free professional counseling from banking experts. In addition, customers can check today's rates, access account information and open new accounts via telephone at 1-877-CWBANK-5 or by visiting the Countrywide Bank Web site, www.countrywidebank.com.

About Countrywide Bank

Countrywide Bank, N.A., is a member of the Countrywide Financial Corporation (NYSE: CFC - News) family of companies. Countrywide Bank offers highly competitive rates on certificates of deposit, money market and individual retirement accounts. Countrywide Bank consistently earns the Top Tier Award from Bankrate.com® for offering deposit products having relatively high annual percentage yields (APYs) compared to other institutions during the same quarter. Customers can review banking products and services, check rates on deposits, and apply for new accounts by phone, online, or at one of the financial centers. For more information about Countrywide Bank, call 1-877-CWBANK-5 or visit www.countrywidebank.com. Member FDIC. Equal Housing Lender.

* Based on current assets and other banking data reported to the Federal Deposit Insurance Corporation (FDIC) quarterly.

** Investment and insurance products are not deposits, not FDIC insured, not guaranteed by any bank, not insured by any Federal Government agency and may lose value.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.