COUNTRYWIDE FINANCIAL CORP
EXHIBIT 10.68
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                                             SECOND AMENDMENT
TO<BR>
COUNTRYWIDE
FINANCIAL CORPORATION<BR>DEFERRED
COMPENSATION PLAN<BR>

                                                  <I>Originally Effective August 1, 1993<BR>
                                              Amended and Restated Effective March , 2000</I>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Countrywide
Financial Corporation, a Delaware corporation (the &#147;Company&#148;) hereby
amends the Countrywide Financial Corporation Deferred Compensation Plan (the
&#147;Plan&#148;), by action of its Board of Directors, to establish effective
dates for elections to defer compensation under the Plan. </FONT></P>

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1. &nbsp;&nbsp;      Section 3.3(b) is deleted in its entirety and new Section 3.3(b) is hereby inserted in its place as follows:
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&#147;<B><U>Subsequent
Plan Years</U></B><U></U>. For each succeeding Plan Year, an irrevocable
election for that Plan year, and such other elections as the Committee deems
necessary or desirable under the Plan, shall be made by timely delivering to the
Committee, in accordance with its rules and procedures, before (i) the end of
the Plan Year preceding the Plan Year for which the election is made for
deferral of Base Annual Salary, and (ii) effective January 1, 2003, the
September 30<SUP>th</SUP> of the Plan Year for which an Annual Bonus is payable,
a new Election Form. If no such Election Form is timely delivered for a Plan
Year, the Annual Deferral Amount shall be zero for that Plan Year.&#148;</FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has caused this Amendment to be signed by its duly authorized officer as
of this 3rd of December, 2002. </FONT></P>

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                                                         Countrywide Financial Corporation
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By:&nbsp;&nbsp;<U>&nbsp;&nbsp;   /s/ Anne McCallion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anne McCallion<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Managing Director,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Administrative Officer
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