Subject: File No. DF Title IX - Asset-Backed Securities
From: Gerald Ellis

March 30, 2011

I'm commenting on the proposed exemptions to risk retention rules related to mortgages. I believe the following statements by Rep. Barney Frank convey my beliefs:

"Frank, in an interview with Dow Jones Newswires, said he disagrees with that decision. We're going to pass legislation that doesnt exempt them, Frank said. The reason for the rule is to make people prudent. Theres no reason to exempt people from that.

Frank also said regulators argument that the companies currently satisfy the risk-retention rules is kind of word-weaseling. Its just not sensible. I have no patience for that."

Perhaps you could save Mr. Frank the effort of having to pass legislation, and remove the exemptions.