Please take a moment to complete the 98th Anniversary Eastern Regional Conference Survey.

Please be honest and assist us by completing the survey and passing it on to those brothers in attendance. Your feedback will go a long way in assisting us and future Host Chapters as they work to improve the conference experience.

Feel free to leave contact information on Question 10, and we will contact you with any answers and/or concerns.

Again, we thank you for attending and look forward to hearing from you.

Copy and paste the link below to access the survey.

http://www.surveymonkey.com/s/T5YBVXQ

• Demonstrated professional familiarity with journalism, public relations, or other media-related fields

• Strength of faculty nomination
• Strong writing skills
• Exposure and some work experience in communications fields
• Evidence of leadership skills
• Quality of paper application and interview performance

• U.S. citizen or permit to work in the U.S.
• Currently or recently enrolled in college full-time when applying for program.
• Demonstrated interest in public service, governance, and policy-making process.

• Solid scholastic achievement
• Strong writing skills
• Community service contributions
• Evidence of leadership skills
• Quality of paper application and, in some instances, interview performance

By Natasha Singer

A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction.

“If people get these things and toss them, they won’t be eligible,” says Ron Sturzenegger, the Bank of America executive charged with providing solutions to borrowers in need of mortgage assistance.

But the offer is real, and eligible borrowers could get as much as $150,000 knocked off the balance of their mortgages. It is all part of the $25 billion settlement reached this year between federal and state agencies and the nation’s five largest mortgage servicers over fraudulent foreclosure document processing (so-called “robo-signing”).

Bank of America ( BAC ), in a deal with state attorneys general and the U.S. Department of Justice, committed $11 billion to mortgage principal reduction, but executives say they will go beyond that if enough borrowers respond to their offer. Five thousand borrowers have already received a collective $700 million in principal reduction through a pilot program for those already in a modification negotiation. The 200,000 borrowers being targeted now may have already exhausted modification options or may have yet to contact the lender.

Executives say borrowers receiving the letters are eligible, but they still have to prove they qualify. In order to be eligible, a borrower must be 60 days late on the mortgage payment as of Jan. 31, 2012. The borrower has to owe more on the mortgage than the home is currently worth, commonly known as being “underwater” on the mortgage, and the borrower’s loan must either be owned by Bank of America or serviced by Bank of America for an investor who is allowing the modifications.

In order to qualify for the modification, the borrower must answer the letter with full documentation of income, showing that under the terms of the modification they can still make the monthly payment. A borrower with no income would therefore not qualify. A borrower’s current monthly payment must be more than 25 percent of gross income, and the borrower must show they are unable to afford that.

“If you can afford to make your monthly payment and are choosing not to, you will not get this principal modification,” says Sturzenegger.

If the borrower qualifies, Bank of America will bring the monthly mortgage payment down to 25 percent of the borrower’s gross income. That could mean principal forgiveness well over $100,000, as there is no limit to the amount of the mortgage. If enough borrowers respond, it could cost Bank of America far more than it committed to in the settlement.

“Yes, we have the capability to go well beyond the $11 billion,” adds Sturzenegger.

Bank executives say that before choosing which borrowers will get the offer, they performed a net present value test on each loan, making sure that the principal reduction modification would net Bank of America or the investor who owns the loan more than foreclosing on the home. “It has to be fair to the investor as well,” says Sturzenegger.

Not all of the 200,000 borrowers who receive the letters are expected to respond. Executives say there is a level of fatigue among delinquent borrowers who have already received several notices or who may have gone through a failed modification process already. Some borrowers simply don’t want to stay in their homes, while others may think the offer is a scam.

“They have been contacted by a lot of other people, and this offer may appear too good to be true,” says Sturzenegger.
That’s why Bank of America is sending the letters by certified mail and trying to make the language as simple as possible. A sample letter obtained by CNBC shows a bring red box in the top corner labeled, “IMPORTANT” and simple language stating, “Qualifying customers may reduce their monthly payment by an average of 35 percent.”

Some 6,500 letters should be arriving in mailboxes across the country this week, with a wave of new letters going out every week until the end of the summer, when all 200,000 should have been mailed. Bank of America is staggering the mailings in order to handle the expected response. The bank has staffed up to handle the task, with 50,000 employees manning servicing desks, but the process will clearly take a lot of time. That’s why Bank of America has suspended any foreclosure actions against these 200,000 borrowers until the process is complete.

There are currently 5.59 million U.S. loans that are either delinquent or in the foreclosure process, according to Lender Processing Services. Bank of America services one million of those loans, but many of them are owned by Fannie Mae and Freddie Mac. Their regulator, Edward DeMarco of the Federal Housing Finance Agency, has yet to agree to principal reduction in loan modifications, despite harsh criticism from some lawmakers on Capitol Hill and increasing pressure from the White House.

As the Regional Conference season is now behind us and the work of the fraternity before us. An item high on the priority list for the Regional Board is the appointment of the vacant board seats, Associate Regional Director and Director of Collegiate Affairs as well as the extensions of the board, the State Directors, Vice State Directors and Area Deputy Directors.

As a point of clarification, due to there being no candidates present at the 98th Eastern Regional Conference for the position of Associate Regional Director, the Regional Director has the responsibility of appointing this voting position to the board. In addition the Director of Collegiate Affairs position is a non-voting position appointed by the Regional Director to serve as a Regional board member.

In an effort to be sure that all that would like to be considered are actually considered, I am requesting that chapters submit the names of brothers that have an interest in serving in one of the aforementioned positions.

The submission of a brother’s name should also include his vision statement for the respective position and/or area.

Submissions are to be sent via email to ViceDirector@pbseast.org. All submissions are due by 5pm May 11, 2012, any submissions received after 5pm will not be considered. It is requested that all recommendations be accompanied by a signature from the respective candidate’s Chapter President.

Attached you will find the roles and responsibilities for each position. Please be sure that the brothers are fully committed to the task at hand and understands that this board is going WORK!!!

Fraternally,

Bro. Devon M. Henry
Vice Regional Director.

Associate Regional Director

The Associate Regional Director shall particularly be responsible for keeping the Regional Director, the Regional Board and several chapters within the region and as to what programs are needed to maintain a viable collegiate structure. He shall make such reports and recommendations to the Regional Conference, the Regional Board, and the Regional Director, as he shall deem necessary and appropriate.

Regional Director of Collegian Affairs

The Regional Director of Collegian Affairs shall in consultation with the Regional Director, Vice Regional Director and Associate Director, investigate areas of retention, expansion and revitalization of Collegian chapters. He shall work with, coordinate and advice Collegian chapters, and shall encourage Collegian programs in all areas of the Region. He shall do whatever is necessary and possible within authority vested by the Regional Director to develop a strong Collegian structure for the Region. He shall acquaint himself with the needs of students throughout the Region, and he shall make recommendations to the Regional Director of Education for scholarships and grants available which must be approved by the Eastern Regional Board.

Notes:

1. He would report directly to the Regional Director but should work very closely with the Associate Director and Vice Director.

2. He shall provide written reports for all Regional Board Meetings and upon demand.

3. He shall work closely with the Vice State Director’s

4. He shall be responsible for assuring that the Graduate Advisor structure is functioning properly.

5. He shall work for the Regional Collegian Affairs Committee, with our Associate Director serving as chairman, when requested and approved by the Regional Director.

Responsibility of State Directors, Vice State Directors and Area Deputy Directors

State Directors:

1. Shall visit each chapter in your state at least once during a calendar year and communicate on a regular basis information about chapter events and activities to the Regional Director, Vice Regional Director, Regional Program Directors and Regional Director of Publicity.

2. Shall support the Vice Regional Director in recruitment, retaining and reactivation plan and implement said program within your respective area.

3. Shall ensure that the roster of mailing addresses, telephone numbers and e-mail addresses of all brothers in each graduate and undergraduate chapter in your State or area is updated and provided to the Vice Regional Director and Regional Secretary as quickly as possible.

4. Shall assist and instruct chapters in matter pertaining to the National and Regional Constitutions, as well as National and Regional mandates.

5. Shall communicate with the Regional Director and Vice Regional Director on a regular basis (minimum once a week) concerning fraternity activities and/or problems in your state/area and provide written recommendations thereto.

6. Shall administer as least one state meeting and one state workshop during a calendar year.

7. Shall verify that all Membership Development & Intake Process (MIP) packets are in proper order (correct amount of funds, proper documents supporting GPA, etc.) from the chapters before forwarding to the Regional Director.

8. Shall make a sincere effort to reactivate any inactive chapters in your state or area, assuring that the chapter taxes have been paid and that there is at least five financial members in every undergraduate chapter and at least ten financial members in every graduate chapter under your jurisdiction.

9. Shall serve as the Regional Director’s personal designee in your state or area in all matters relating to Phi Beta Sigma. To serve as representative on behalf of the fraternity whenever such representation is requested and an elected Regional or National Officer cannot be present. The State Director serves as the highest ranking official of the fraternity in all matters related thereto whenever elected Regional or National Officers are not present.

10. Shall assist the National and Regional Program Directors in communication their programs in your state.

11. Shall attend all Regional Board Meetings, Eastern Regional Conference and respective State Meeting and prepare a detailed written and oral report (Regional Board Meetings and State Meetings).

12. Shall perform all other duties as requested by the Regional Director or designee on the Regional Board concerning the respective nature of their Board duties.

Area Deputy Directors:

1. Shall assist their State Director in the performance of his duties and act for him in his absence or incapacity to act.

2. Shall be responsible for a designated area as mandated by the Regional Director.

3. Shall perform all duties asked of him by their respective State Director.

4. Shall provide a quarterly written report for all activities in respective area to their respective State Director.

5. Shall maintain contact with their respective State Director a minimum of once a week via phone call and electronic mail.

6. Shall visit each chapter in your state at least once a quarter.

7. Shall perform all other duties as requested by the Regional Director or designee on the Regional Board concerning the respective nature of their Board duties.

Vice State Director:

The SIGMA TIE comes in a commemorative box and its classic look is great for any occasion.

Please visit the conference website at http://www.pbs2012erc.org to order your tie now. For bulk orders please go to http://www.ctsigmas.org.

Do not hesitate to contact Bro. Jean Napol with any questions . . . jeannapol@ gmail.com.

When you get a moment, please go to http://facebook.com/designyourtie and “LIKE” the page.

Friday June 22, 2012

Coppin State University

Talon Building – Second Floor

10 a.m. thru 6 p.m.