Rule 424(b)(3)
File No. 33-50661
AMENDMENT NO. 1 DATED JANUARY 24, 1995 TO
PRICING SUPPLEMENT NO. 22 DATED JANUARY 13, 1995
(To Prospectus Dated October 29, 1993 as Supplemented October 29, 1993)
COUNTRYWIDE FUNDING CORPORATION
Medium-Term Notes, Series C
Due from 9 months to 30 years from Date of Issue
Payment of the Principal, Premium, if any,
and Interest on the Notes is Unconditionally
Guaranteed by
COUNTRYWIDE CREDIT INDUSTRIES, INC.
Floating-Rate Notes
- - - - - - - - - -
Principal Amount: 20,000,000
Proceeds to Issuer: 19,930,000
Trade Date: January 13, 1995
Issue Price: 100%
Original Issue Date: January 23, 1995
Total Amount of OID: N/A
Initial Accrual Period OID: N/A
Yield to Maturity N/A
Stated Maturity Date: January 23, 1998
Book-Entry: /X/
Certificated: / /
Specified Currency: U.S. Dollars
Base Rate: / / Commercial paper Rate /x/ LIBOR
/ / Certificate of Deposit Rate
/ / Treasury Rate / / Federal Funds Rate
/ / Prime Rate / / Other
Exchange Rate Agent: N/A
Minimum Denomination: $100,000
Initial Interest Rate: 6.725% (6.375% + 35 bps)
Interest Determination Dates: Two Business Days prior to
the Interest Reset Date.
Interest Reset Dates: Same as Interest Payment Dates
Interest Payment Dates: Every 1/23, 4/23, 7/23 and
10/23 until maturity.
Index Maturity: 3 months
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Spread (plus or minus): Plus 35 bps (bps = basis points)
Spread Multiplier: N/A
Calculation Agent: The Bank of New York
Calculation Date: N/A
Redemption:
Check box opposite applicable paragraph.
/X/ The Notes cannot be redeemed prior to maturity.
/ / The Notes may be redeemed prior to maturity.
Initial Redemption Date: N/A
Initial Redemption Percentage: N/A
Annual Redemption Percentage N/A
Reduction:
Special Redemption Provisions: N/A
This amendment corrects the initial interest rate to be 6.725%
and adds the principal amount being sold and the proceeds to the
issuer.
