Cookies

We use cookies to ensure that we give you the best experience on our website. By continuing to browse this repository, you give consent for essential cookies to be used. You can read more about our Privacy and Cookie Policy.


Durham Research Online
You are in:

Securitising suburbia : the transformation of Anglo-American mortgage finance.

Langley, P. (2006) 'Securitising suburbia : the transformation of Anglo-American mortgage finance.', Competition & change., 10 (3). pp. 283-299.

Abstract

Informed by and contributing to approaches to finance that draw on Foucault and actor-network theory, the paper focuses on the contemporary transformation of Anglo-American mortgage finance. This transformation is understood to entail the lengthening of mortgage networks and their increased interconnection with the multiple networks of the capital markets; the making of suburban subjects as property investors in order to produce and extend mortgage borrowing in a booming housing market; and, in particular, the constitution of mortgage-backed securitisation (MBS) techniques through the calculative tools of off-balance sheet accounting, asset management, and credit rating. MBS is the practice of 'bundling' together a stream of future obligations arising from mortgagors repayments to provide the basis for the issue of, and the payment of principal and interest on, securities.

Item Type:Article
Keywords:Calculative tools, Disintermediation, Mortgage finance, Mortgage-backed securitisation, Suburban subjects.
Full text:Full text not available from this repository.
Publisher Web site:http://dx.doi.org/10.1179/102452906X114384
Record Created:06 Sep 2013 14:35
Last Modified:06 Sep 2013 16:36

Social bookmarking: del.icio.usConnoteaBibSonomyCiteULikeFacebookTwitterExport: EndNote, Zotero | BibTex
Look up in GoogleScholar | Find in a UK Library