Former Federal Housing Finance Agency Acting Director Ed DeMarco continues to push his housing finance reform proposal leaning toward a Ginnie Mae model that would convert the GSEs into companies mutually owned by mortgage lenders. DeMarco, while speaking at a secondary market symposium in Florida earlier this month sponsored by Keefe Bruyette and Woods, said the proposal calls for risk sharing using private capital to meaningfully increase capital present at the mortgage-backed securities level. KBW called the plan “promising” because it’s proposing changes that are incremental as opposed to proposing a completely new structure for the mortgage market. “We think the mortgage insurers and mortgage real estate investment trusts are well...