Subject: File No. S7-35-11
From: William J Wilson
Affiliation: Individual investor

October 1, 2011

I appreciate the opportunity to weight in on this item. When I do investment research I find that the longevity of a company and its reputation among other investors is the best tool for establishing credibility. I feel that the mortgage REITS in which I have invested passed that test. I don't feel the need to put them under any further scrutiny or regulation since I take responsibility for my own decisions. Obviously these companies deliver a better revenue stream than other alternatives by use of leverage, however, I watch their actions and keep track of the quality of their investments and feel that I am well within personal limits of reasonableness with this investment. I do not feel that the SEC should impose any further action limiting their ability to deliver a return. Their niche in the mortgage industry is important and a valuable part of the success of home ownership, be that what it is today. I say "hands off" the mortgage REITS.
Thanks for reviewing this comment with an open mind.