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 |
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 |
Save or Share this output
Export: | |
Look up in GoogleScholar |