African Troops in Asia

Although several notices have appeared of particular engagementsfought by African troops in South-East Asia, or on other aspectsof their work, this article is, so far as we know, the firstgeneral review of their achievements as a whole. It is by aTanganyika District Officer, who accompanied the Duke of Devonshireon his tour of African units in India and Burma last spring.     

West African Voices

A new literary programme has been started in the West AfricanService of the B.B.C., and this article is a reprint of oneof the talks. The Ibo speaker was formerly in the Customs, andqualified as a barrister last November: he is also the authorof numerous poems in English, and of a novel, The Prince ofUtete. The other two are schoolmasters working as Assistantsat the School of Oriental and African Studies. For technicalreasons, the orthography is not quite complete.     

AFTERWORD: CROSS-CULTURAL IMPLICATIONS OF JAPANESE HERITAGE LANGUAGE POLICIES AND PRACTICES

Scholars of regions where multiple languages are spoken have much to gain by considering heritage language education, individual identity, and state power through these ethnographic and historical cases that focus on Japan and the Japanese diaspora. The articles in this two-part collection offer insights into the interrelationships of linguistic hierarchies and political economy, the navigation of ethnic and racial subjectivities, and the ways children and adolescents claim belonging to various communities through their linguistic practices. The articles interrogate not only heritage but remembrance and the ways individuals may produce identity through language in everyday interactions and institutional settings.     

Affordability and mortgage design: Permanent buydowns and buyups

Abstract

A simulation model that mirrors the actual practices of lenders in setting qualification requirements for mortgage loans is used to assess the impact of permanent buydowns and buyups on the maximum sale price that buyers can afford. Buydowns are reductions in the coupon rate traded off against higher discount points; buyups are the reverse. Although buydowns have little effect on afford ability, buyups can have significant effects. Their potential is largely unrealized, however, because of the call risk to lenders of loans carrying premiums. The authors propose a “discount recovery” provision, which would be similar to a prepayment penalty except that the payment upon prepayment would be tied to the amount of the discount foregone by the lender. This would protect lenders against call risk, giving them every reason to offer buyups as a way of expanding demand.