Countrywide  Financial may have made more subprime housing loans than any other institution before the housing bubble burst, but that certainly didn't scare away investors from the public market debut of Countrywide II, formally known as  PennyMac Financial Services ( PFSI _ ) .

PennyMac, the parent of  mortgage REIT  PennyMac Mortgage Investment Trust ( PMT _ ) , is run by Stan Kurland, who spent nearly 30 years at Countrywide, where at different times he served as president, chief financial officer and chief operating officer. Seven of PennyMac's nine executive officers, including Kurland, worked at Countrywide.

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