diff --git a/pandas/core/frame.py b/pandas/core/frame.py
index 977dc9e2b56ff..9305fa18e23e2 100644
--- a/pandas/core/frame.py
+++ b/pandas/core/frame.py
@@ -392,15 +392,6 @@ def __init__(self, data=None, index=None, columns=None, dtype=None,
             mgr = self._init_mgr(data, index, columns, dtype=dtype, copy=copy)
         elif isinstance(data, dict):
             mgr = self._init_dict(data, index, columns, dtype=dtype)
-        elif isinstance(data, ma.MaskedArray):
-            mask = ma.getmaskarray(data)
-            if mask.any():
-                data, fill_value = _maybe_upcast(data, copy=True)
-                data[mask] = fill_value
-            else:
-                data = data.copy()
-            mgr = self._init_ndarray(data, index, columns, dtype=dtype,
-                                     copy=copy)
         elif isinstance(data, np.ndarray):
             if data.dtype.names:
                 data_columns, data = _rec_to_dict(data)
@@ -408,8 +399,8 @@ def __init__(self, data=None, index=None, columns=None, dtype=None,
                     columns = data_columns
                 mgr = self._init_dict(data, index, columns, dtype=dtype)
             else:
-                mgr = self._init_ndarray(data, index, columns, dtype=dtype,
-                                         copy=copy)
+                mgr = self._init_ndarray(_unmask(data), index, columns,
+                                         dtype=dtype, copy=copy)
         elif isinstance(data, list):
             if len(data) > 0:
                 if index is None and isinstance(data[0], Series):
@@ -5424,10 +5415,21 @@ def convert(v):
     return values
 
 
+def _unmask(arr):
+    if isinstance(arr, ma.MaskedArray):
+        mask = ma.getmaskarray(arr)
+        if mask.any():
+            arr, fill_value = _maybe_upcast(arr, copy=True)
+            arr[mask] = fill_value
+            return arr.copy()
+        return arr.copy()
+    return arr
+
+
 def _rec_to_dict(arr):
     if isinstance(arr, np.ndarray):
         columns = list(arr.dtype.names)
-        sdict = dict((k, arr[k]) for k in columns)
+        sdict = dict((k, _unmask(arr[k])) for k in columns)
     elif isinstance(arr, DataFrame):
         columns = list(arr.columns)
         sdict = dict((k, v.values) for k, v in arr.iteritems())
diff --git a/pandas/tests/test_frame.py b/pandas/tests/test_frame.py
index 7bafed216b9b9..63e3a59d09c35 100644
--- a/pandas/tests/test_frame.py
+++ b/pandas/tests/test_frame.py
@@ -3,6 +3,8 @@
 from datetime import datetime, timedelta, time
 from StringIO import StringIO
 import cPickle as pickle
+import functools
+import itertools
 import operator
 import os
 import unittest
@@ -13,6 +15,7 @@
 from numpy.random import randn
 import numpy as np
 import numpy.ma as ma
+import numpy.ma.mrecords as mrecords
 from numpy.testing import assert_array_equal
 
 import pandas as pan
@@ -2491,6 +2494,39 @@ def test_constructor_maskedarray_nonfloat(self):
         self.assertEqual(True, frame['A'][1])
         self.assertEqual(False, frame['C'][2])
 
+    def test_constructor_mrecarray(self):
+        """Ensure mrecarray produces frame identical to dict of masked arrays
+        """
+        assert_fr_equal = functools.partial(assert_frame_equal,
+                                               check_index_type=True,
+                                               check_column_type=True,
+                                               check_frame_type=True)
+        arrays = [
+            ('float', np.array([1.5, 2.0])),
+            ('int', np.array([1, 2])),
+            ('str', np.array(['abc', 'def'])),
+        ]
+        for name, arr in arrays[:]:
+            arrays.append(('masked1_' + name,
+                           np.ma.masked_array(arr, mask=[False, True])))
+        arrays.append(('masked_all', np.ma.masked_all((2,))))
+        arrays.append(('masked_none',
+                       np.ma.masked_array([1.0, 2.5], mask=False)))
+
+        # call assert_frame_equal for all selections of 3 arrays
+        for comb in itertools.combinations(arrays, 3):
+            names, data = zip(*comb)
+            print(names)
+            mrecs = mrecords.fromarrays(data, names=names)
+            assert_fr_equal(DataFrame(mrecs),
+                            DataFrame(dict(comb), columns=names))
+            # specify columns
+            assert_fr_equal(DataFrame(mrecs, columns=names[::-1]),
+                            DataFrame(dict(comb), columns=names[::-1]))
+            # specify index
+            assert_fr_equal(DataFrame(mrecs, index=[1, 2]),
+                            DataFrame(dict(comb), columns=names, index=[1,2]))
+
     def test_constructor_corner(self):
         df = DataFrame(index=[])
         self.assertEqual(df.values.shape, (0, 0))