As filed with the Securities and Exchange Commission on October 23, 1998

                       Registration No. 333-_____________

================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933
                             ----------------------

                       COUNTRYWIDE CREDIT INDUSTRIES, INC.
             (Exact name of registrant as specified in its charter)

                               Delaware 95-4083087
     (State or other jurisdiction of (I.R.S. Employer Identification Number)
                         incorporation or organization)

                             4500 Park Granada 91302
                                  Calabasas, CA
               (Address of Principal Executive Offices) (Zip Code)

                       Countrywide Credit Industries, Inc.
                             1993 Stock Option Plan
                 (As Amended and Restated as of March 27, 1996)
                            (Full title of the Plan)

                                Sandor E. Samuels
                                 General Counsel
                                4500 Park Granada
                               Calabasas, CA 91302
                     (Name and address of agent for service)

                                 (818) 225-3505
          (Telephone Number, including area code, of agent for service)

                         CALCULATION OF REGISTRATION FEE
================================================================================
         Title of securities Number of shares Proposed maximum offering
                to be registered to be registered price per share

--------------------------------------------------------------------------------
                    Common Stock, 5,500,000 shares $39.03125
                            $.05 par value per share

--------------------------------------------------------------------------------
             Proposed maximum aggregate Amount of Registration Fee
                                offering price 1
                              $214,671,875 $59,679

================================================================================



<PAGE>



                                Explanatory Note

         Pursuant to general  instruction E to Form S-8 under the Securities Act
of 1933, as amended, this Registration Statement relates to the amendment of the
1993 Stock  Option  Plan (As  Amended and  Restated  as of March 17,  1996),  as
amended,  to  increase  the number of shares of the  registrant's  common  stock
available  for  issuance  upon the  exercise of stock  options  under such stock
option plan from 10,500,000 to 16,000,000 (an increase of 5,500,000 shares).

         The contents of the  registrant's  Registration  Statements on Form S-8
(File Nos.  33-69498  and  33-08638)  filed  with the  Securities  and  Exchange
Commission  on  September  28,  1993  and  March  28,  1997,  respectively,  are
incorporated by reference herein.


PART II

Item 1. Exhibits

4        Amendment No. 2 to the 1993 Stock Option Plan (As Amended and 
         Restated as of March 17, 1996)

5        Opinion of Sandor E. Samuels, General Counsel of the registrant as to
         the legality of the Common Stock being registered.

23.1     Consent of Grant Thornton, LLP, Independent Auditors.

23.2     Consent of Sandor E. Samuels (included in Opinion filed as Exhibit 5).



<PAGE>


                                   SIGNATURES

         Pursuant  to the  requirements  of the  Securities  Act  of  1933,  the
registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this registration
statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the City of Calabasas,  State of California,  on the 23rd day of
October, 1998.

                                    COUNTRYWIDE CREDIT INDUSTRIES, INC.

                                    By:     /s/ David S. Loeb
                                            David S. Loeb
                                            Chairman and President


Signatures                         Title                               Date



/s/ David S. Loeb           Chairman of the  Board            October 23, 1998
David S. Loeb               of Directors and President
                            (Principal Executive
                            Officer); Director

/s/ Angelo R. Mozilo        Chief Executive Officer and       October 23, 1998
---------------------       Vice Chairman of the Board of
Angelo R. Mozilo            Directors;Director
                                      
                                            

/s/ Carlos M. Garcia        Managing Director - Finance       October 23, 1998
Carlos M. Garcia            Chief Financial Officer and
                            Chief Accounting Officer
                            (Principal Financial and
                            Accounting Officer)


Jeffrey M. Cunningham       Director                          October 23, 1998



/s/ Robert J. Donato        Director                          October 23, 1998
---------------------
Robert J. Donato


/s/ Michael E. Dougherty    Director                          October 23, 1998
-------------------------
Michael E. Dougherty


/s/ Ben M. Enis             Director                          October 23, 1998
-----------------------
Ben M. Enis


/s/ Edwin Heller            Director                          October 23, 1998
-----------------------
Edwin Heller


/s/ Harley W. Snyder        Director                          October 23, 1998
----------------------
Harley W. Snyder


<PAGE>
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{"company-data": {"conformed-name": "COUNTRYWIDE CREDIT INDUSTRIES INC", "cik": "0000025191", "assigned-sic": "6162", "irs-number": "132641992", "state-of-incorporation": "DE", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-66095", "film-number": "98730251"}, "business-address": {"street1": "4500 PARK GRANADA BLVD", "city": "CALABASAS", "state": "CA", "zip": "91302", "phone": "8182253000"}, "mail-address": {"street1": "4500 PARK GRANADA BLVD", "city": "CALABASAS", "state": "CA", "zip": "91302"}}
As filed with the Securities and Exchange Commission on October 23, 1998

                       Registration No. 333-_____________

================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933
                             ----------------------

                       COUNTRYWIDE CREDIT INDUSTRIES, INC.
             (Exact name of registrant as specified in its charter)

                               Delaware 95-4083087
     (State or other jurisdiction of (I.R.S. Employer Identification Number)
                         incorporation or organization)

                             4500 Park Granada 91302
                                  Calabasas, CA
               (Address of Principal Executive Offices) (Zip Code)

                       Countrywide Credit Industries, Inc.
                             1993 Stock Option Plan
                 (As Amended and Restated as of March 27, 1996)
                            (Full title of the Plan)

                                Sandor E. Samuels
                                 General Counsel
                                4500 Park Granada
                               Calabasas, CA 91302
                     (Name and address of agent for service)

                                 (818) 225-3505
          (Telephone Number, including area code, of agent for service)

                         CALCULATION OF REGISTRATION FEE
================================================================================
         Title of securities Number of shares Proposed maximum offering
                to be registered to be registered price per share

--------------------------------------------------------------------------------
                    Common Stock, 5,500,000 shares $39.03125
                            $.05 par value per share

--------------------------------------------------------------------------------
             Proposed maximum aggregate Amount of Registration Fee
                                offering price 1
                              $214,671,875 $59,679

================================================================================
Explanatory Note

         Pursuant to general  instruction E to Form S-8 under the Securities Act
of 1933, as amended, this Registration Statement relates to the amendment of the
1993 Stock  Option  Plan (As  Amended and  Restated  as of March 17,  1996),  as
amended,  to  increase  the number of shares of the  registrant's  common  stock
available  for  issuance  upon the  exercise of stock  options  under such stock
option plan from 10,500,000 to 16,000,000 (an increase of 5,500,000 shares).

         The contents of the  registrant's  Registration  Statements on Form S-8
(File Nos.  33-69498  and  33-08638)  filed  with the  Securities  and  Exchange
Commission  on  September  28,  1993  and  March  28,  1997,  respectively,  are
incorporated by reference herein.

PART II

Item 1. Exhibits

4        Amendment No. 2 to the 1993 Stock Option Plan (As Amended and 
         Restated as of March 17, 1996)

5        Opinion of Sandor E. Samuels, General Counsel of the registrant as to
         the legality of the Common Stock being registered.

23.1     Consent of Grant Thornton, LLP, Independent Auditors.

23.2     Consent of Sandor E. Samuels (included in Opinion filed as Exhibit 5).
SIGNATURES

         Pursuant  to the  requirements  of the  Securities  Act  of  1933,  the
registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this registration
statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the City of Calabasas,  State of California,  on the 23rd day of
October, 1998.

                                    COUNTRYWIDE CREDIT INDUSTRIES, INC.

                                    By:     /s/ David S. Loeb
                                            David S. Loeb
                                            Chairman and President

Signatures                         Title                               Date

/s/ David S. Loeb           Chairman of the  Board            October 23, 1998
David S. Loeb               of Directors and President
                            (Principal Executive
                            Officer); Director

/s/ Angelo R. Mozilo        Chief Executive Officer and       October 23, 1998
---------------------       Vice Chairman of the Board of
Angelo R. Mozilo            Directors;Director
                                      
                                            

/s/ Carlos M. Garcia        Managing Director - Finance       October 23, 1998
Carlos M. Garcia            Chief Financial Officer and
                            Chief Accounting Officer
                            (Principal Financial and
                            Accounting Officer)

Jeffrey M. Cunningham       Director                          October 23, 1998

/s/ Robert J. Donato        Director                          October 23, 1998
---------------------
Robert J. Donato

/s/ Michael E. Dougherty    Director                          October 23, 1998
-------------------------
Michael E. Dougherty

/s/ Ben M. Enis             Director                          October 23, 1998
-----------------------
Ben M. Enis

/s/ Edwin Heller            Director                          October 23, 1998
-----------------------
Edwin Heller

/s/ Harley W. Snyder        Director                          October 23, 1998
----------------------
Harley W. Snyder