Countrywide Reconstructed: PennyMac

``Now a group of former Countrywide executives are looking for a new way to get paid: buy distressed mortgages at rock-bottom prices and resell them for a pretty penny... Private National Mortgage, also known as PennyMac, will invest in and service resident mortgages with capital raised from private investors. The aim is to avoid home foreclosures and restructure loans so borrowers can maintain payments and stay in their homes.'' -- Catching a falling knife, or shrewd and charitable?