Subject: File No. S7-35-11
From: William L Hopper
Affiliation: Retired

September 3, 2011

Dear Sir or Madam,

I am a 68 year old retired professional and I have been looking for alternatives to conventional equities due to the volatility of the past decade. I found mortgage Real Estate Investment Trusts to be an attractive alternative and began investing in them early last year.

I am relatively young and will require income for my remaining years. I can't live off bonds or CD's with their measly 3% income. Therefore, I invested in mortgage REITs as a part of my overall strategy. I fear that I will be losing significant income opportunities if rules are changed.

I urge to you please not propose or make any changes in the rules regarding mortgage REITs at the present time. I feel that this would adversely affect myself and scores of additional investors who have been decimated by the past two major market downturns low interest rates and have attempted to make up the losses through income. Please do not change the rules regarding MBS and mREITs at this time.

Thank you for your attention.