October 13, 2011
Thank you for the opportunity to comment on this concept release. While entities which violate the rule of the Act of 1940, and the exemption granted to REITs by the Congress during the 1960s (allowing greater leeway than mutual funds to use leverage), should be not be deemed REITs, REITS as they are commonly known, and not employing synthetic mortgages, should not have their tax status changed. Further, I find the oversight of the mortgage-REIT sector by the Commission to have been appropriate.