Jeff Smith 6 p.m., Oct. 8
Congresswoman from Kensington Borrows Against Her Homes
Democratic Congresswoman Susan Davis has taken out mortgages against two houses she owns in San Diego's Kensington neighborhood and Washington, D.C., according to her annual statement of personal financial interests.
The loans, made in January of this year, are both from JPMorgan Chase and each is valued at between $250,001 to $500,000, according to Davis's May 15 filing.
Some members of Congress have yet to file their disclosures, so 2011 income comparisons are currently unavailable, but Davis's 2010 net worth, reportedly between $1,302,051 to $3,464,999, ranked her 117th among her peers, according to the non-profit website opensecrets.org.
Davis and her husband, physician Steve Davis, also own a San Diego rental property, reported to be worth between $100,001 and $250,000, according to the filing.
The couple's liability on that property, a Chase mortgage made in 1983, was reported to be between $15,001 and $50,000.
Reached this morning by phone, a spokesman for Davis said that the two new mortgages represented a refinancing of the properties. Under previous House rules, he said, members were not required to disclose mortgages on their personal residences.
Among other 2011 income reported by Davis was between $5,001 and $15,000 in capital gains on stock in Apple, Inc. and rental income from her San Diego rental property betweeen $5,001 and $15,000.
At years end she owned between $15,001 and $50,000 of stock in local cell phone giant Qualcomm, collecting between $201 and $1000 in dividends.
Davis also reported taking three international trips with her husband, the cost of two being paid for by Washington, D.C.-based Aspen Institute, and the other covered by the Japan Center for International Exchange.
As we've previously reported, the Kensington Democrat has a long history of accepting sponsored travel.
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- The State of Brian Bilbray's Finances — Oct. 21, 2011