Rule 424(b)(3)
File Nos. 333-31529 and 333-31529-01
PRICING SUPPLEMENT NO. 56 DATED March 5, 1998
(To Prospectus Dated August 12, 1997, as Supplemented August 15, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES F
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: March 5, 1998 Book Entry: |X|
Issue Price: 100% Certificated: |_|
Original Issue Date: March 10, 1998 Principal Amount: $ 100,000,000
Stated Maturity Date: March 10, 2005 Net Proceeds: $ 99,400,000
Interest Rate: 6.70% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Lehman Brothers Inc.
Minimum Denomination: $100,000
Interest Payment Dates: March 10 and September 10, commencing September 10, 1998
Record Dates: February 23 and August 26
Redemption: Repayment:
Check box opposite applicable paragraph: Check box opposite applicable
paragraph:
|X| The Notes cannot be redeemed prior to |X| The Notes cannot be repaid prior
maturity. to maturity.
|_| The Notes may be redeemed prior to |_| The Notes may be repaid prior to
maturity. maturity.
Initial Redemption Date: Optional Repayment Dates:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction,
if any:
Additional/Other Terms: N/A
--------------
The Notes to which this Pricing Supplement relates will
constitute unsecured and unsubordinated indebtedness of CHL and will
rank pari passu in right of payment with CHL's other unsecured and
unsubordinated indebtedness. As of November 30, 1997, the Guarantor did
not have any secured indebtedness outstanding, and CHL had
$258,207,000 aggregate principal amount of secured indebtedness
outstanding. As of such date, CHL had $7,136,241,000 aggregate
principal amount of unsecured and unsubordinated indebtedness
outstanding, which indebtedness ranked pari passu in right of payment
with CHL's other unsecured and unsubordinated indebtedness and will
rank pari passu in right of payment with the Notes to which this
Pricing Supplement relates.
Rule 424(b)(3)
File Nos. 333-31529 and 333-31529-01
PRICING SUPPLEMENT NO. 57 DATED March 5, 1998
(To Prospectus Dated August 12, 1997, as Supplemented August 15, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES F
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: March 5, 1998 Book Entry: |X|
Issue Price: 100% Certificated: |_|
Original Issue Date: March 10, 1998 Principal Amount: $ 11,000,000
Stated Maturity Date: March 10, 2005 Net Proceeds: $ 10,934,000
Interest Rate: 6.70% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Countrywide Securities Corporation
Minimum Denomination: $100,000
Interest Payment Dates: March 10 and September 10, commencing September 10, 1998
Record Dates: February 23 and August 26
Redemption: Repayment:
Check box opposite applicable paragraph: Check box opposite applicable
paragraph:
|X| The Notes cannot be redeemed prior to |X| The Notes cannot be repaid prior
maturity. to maturity.
|_| The Notes may be redeemed prior to |_| The Notes may be repaid prior to
maturity. maturity.
Initial Redemption Date: Optional Repayment Dates:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction,
if any:
Additional/Other Terms: N/A
--------------
The Notes to which this Pricing Supplement relates will
constitute unsecured and unsubordinated indebtedness of CHL and will
rank pari passu in right of payment with CHL's other unsecured and
unsubordinated indebtedness. As of November 30, 1997, the Guarantor did
not have any secured indebtedness outstanding, and CHL had
$258,207,000 aggregate principal amount of secured indebtedness
outstanding. As of such date, CHL had $7,136,241,000 aggregate
principal amount of unsecured and unsubordinated indebtedness
outstanding, which indebtedness ranked pari passu in right of payment
with CHL's other unsecured and unsubordinated indebtedness and will
rank pari passu in right of payment with the Notes to which this
Pricing Supplement relates.
