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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.


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.
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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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