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Securitising suburbia: The transformation of Anglo-American mortgage finance

Langley, P.



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.


Langley, P. (2006). Securitising suburbia: The transformation of Anglo-American mortgage finance. Competition & Change, 10(3), 283-299.

Journal Article Type Article
Publication Date Sep 1, 2006
Deposit Date Dec 12, 2011
Journal Competition and Change
Print ISSN 1024-5294
Electronic ISSN 1477-2221
Publisher SAGE Publications
Peer Reviewed Peer Reviewed
Volume 10
Issue 3
Pages 283-299
Keywords Calculative tools, Disintermediation, Mortgage finance, Mortgage-backed securitisation, Suburban subjects.