PennyMac is getting some bad press today. It happens from time to time.

Fortune is capitalizing on a well-known Countrywide connection involving the Calabasas, Calif.-based mortgage originator and servicer (Google "countrywide pennymac") by using a modified reference from the movie Poltergeist II.

Or as Fortunes' senior editor Stephen Gandel writes: "Countrywide: It's baaack."

"In the past year, though, PennyMac has morphed into something that more resembles Countrywide," Gandel opines. "In recent investor presentations, Kurland and other PennyMac executives have talked up the company's unit that finances new mortgage loans made by outside brokers and small banks. The unit was launched a year ago, and now accounts for about a third of the company's profits."

Meanwhile, PennyMac just published a very informative blog post about whether or not borrowers should refinance.

It makes me think that the mortgage business is finally starting to operate with less fear, and less concern over headline risk.

That's because Gandel's article will not likely prevent any business from going to PennyMac. But PennyMac's blog post may actually get it more business.

Why is this? Despite Gandel's best efforts, there is a huge demand for players such as PennyMac, private market lenders that can help meet surging demand for mortgages from consumers.

Mortgage lending is coming back, because it needs to. And that's not a horror movie: it's a reason to cheer.