A number of reliable individuals as well as banks and trust companies are in the business of making loans on western farm lands. These brokers and banks through their experts and attorneys carefully examine and appraise the farms, and search the titles. If they are satisfied as to the security offered they make loans of from 25% to 50% of the appraised value. The rates of interest run as high as 8%. The loans are then sold to investors throughout the country, usually at a rate of interest lower than that paid by the borrower. The brokers or bankers attend to all details such as collection of interest, insurance and other matters, and make the difference on the rate of interest as a profit. Some of the mortgages are made in trust and bonds issued against them. The bonds are sold in denominations of $100, $500, and $1,000. Many life insurance companies are investors in farm loan mortgages, and many American farm mortgages were, prior to the world war, sold to foreign investors.