Miss Countrywide? It's back, writes Steve Gandel, in the form of PennyMac (PMT), formed 3 years ago by Countrywide alums. Last month, PennyMac opened its first retail branch. Heading the office is Stephen Brandt, who reportedly ran Countrywide's "Friends of Angelo" program. "There's free money on the table and you don't have to work that hard to get it," says a Stifel analyst covering PMT.