Subject: File No. S7-34-11
From: Mark Bridley, CPE

September 7, 2011

I am a licensed real estate broker specializing in homes over $1.5 million with clients paying mostly cash or have a low requirement for a morgage.

My associates dealing in homes less than $1 million are having difficulity because conventional lenders are not lending which will be impacted even more should there be additional changes to the morgage lending industry.

Think very carefully before you make any changes. Families making under $300K annually will be impacted.

Any changes to the existing regulations and I will remove all my funds from the REIT market.