Langley, P. (2006) 'Securitising suburbia : the transformation of Anglo-American mortgage finance.', Competition & change., 10 (3). pp. 283-299.
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.
|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|
|Date accepted:||No date available|
|Date deposited:||No date available|
|Date of first online publication:||September 2006|
|Date first made open access:||No date available|
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