Subject: File No. S7-35-11
From: Matthew W Lockin
Affiliation: Law Student

October 19, 2011

I am a third year law student living in Phoenix, Arizona. I currently assist my family, including my parents and my grandparents with their modest investment funds. Given the age of my grandmother, she relies heavily on dividend paying stocks to fund her basic living expenses. The exceptional yields currently provided by mortgage REITs help keep a roof over her head, pay her medical bills, and provide her with needed care. I'm aware this public comment is merely anecdotal, but I feel strongly that the rules concerning mortgage REITs should not be changed to the detriment of existing shareholders, many of which rely on dividend income for their continued living expenses.