Fannie Mae has fended off a threat by Freddie Mac to make a dent in Fannie's majority share of the secondary mortgage market.

Countrywide Credit Industries, the nation's largest independent mortgage lender, announced Friday that it had agreed to sell most of its loans to Fannie. In return, Fannie will let Countrywide use its own electronic system to underwrite loans, will help promote other Countrywide products, and will confer certain other advantages on Countrywide.

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