INDEPENDENT AUDITORS' CONSENT



The Administrative Committee
Downey Savings and Loan Association, F.A.
   Employees' Retirement and Savings Plan:


We consent to  incorporation in the  Registration  Statement (No.  333-30483) on
Form S-8 of Downey  Financial Corp. of our report dated May 18, 2001 relating to
the  statements of net assets  available for plan benefits of the Downey Savings
and Loan Association, F.A. Employees' Retirement and Savings Plan as of December
31, 2000 and 1999, the related statements of changes in net assets available for
plan  benefits  for the years then ended and the  supplemental  schedule,  which
report  appears in the  December  31, 2000 annual  report on Form 11-K of Downey
Savings and Loan Association, F.A. Employees' Retirement and Savings Plan.




                                  /S/ KPMG LLP



Los Angeles, California
June 21, 2001