Officials with Home Equity Securities have started to lobby the Obama administration regarding an alternative to home-equity loans known as the home-equity fractional interest security. HES said the HEFI security could create a market as big as the U.S. stock market without increasing mortgage risk. Under HES’ proposal, a shared-equity investor would match a borrower’s downpayment and share in any home price appreciation. HES received a patent for the product in 2009. HES officials envision...