Countrywide Credit Industries has turned down a chance to originate home loans to Pricecostco Inc.'s customers.

The Pasadena, Calif., lender said it had been working "night and day" with the nationwide mega-retailer to try to hammer out a lending agreement. But last week the on-again, off-again deal collapsed for good. Pricecostco was courting other lenders at the same time, and Countrywide didn't like it.

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