Subject: File No. S7-35-11
From: Larry Bethel

September 3, 2011

Dear Sir or Madam,

I am a recently retired individual who has used the mortgage Reits for income to help with my living expenses.

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 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.
Larry L Bethel