Message From the President of DVRC
Spring 2010
Welcome to the Spring 2010 DVRC Newsletter!
I hope this message finds you well. Your Board of Directors and their committees have been
working diligently to provide you with new opportunities for networking & career growth,
enhanced sponsorship levels, and outstanding programs. High on the list is the continual
delivery of inspired, relevant content at our conferences. Spring’s “Cinco de Mayo” theme is
appropriately named for the conference date of May 5th and your Program Committee has
outdone themselves once again.
WWW.DVRCONLINE.COM
Our corporate members will be able to take advantage of a Corporate Only Roundtable
immediately preceding the conference. This event has been highly attended in the past and
has been met with excellent feedback. Our members who are in career transition will have a
wonderful opportunity to network and learn from others in our Career Workshop, also
preceding the conference.
We have three comprehensive sessions with deliverables for everyone on our membership
list, including mastering the new rules of the industry playing field with winning strategies;
creative approaches to the Lump Sum Program including case studies from a panel of
experts; and exploring the world of immigration laws and how recent shifts have impacted
corporate global mobility practices.
And finally we have a Cinco de Mayo Margaritaville celebration with networking, food and
drinks for all. Bring on the salt shaker!
We are also planning our very first “Metro Meeting of the Minds” – a collaborative effort to
bring together three regional relocation councils at one conference this fall: DVRC, NJRC,
and TRS (now NYCORP). Representatives from each of the Boards, and committee
members are currently strategizing all the logistics with positive early results! This should be
a very exciting opportunity for all – stay tuned for much more to come.
Thank you once again for the privilege of serving you, and as always my line is open for any
and all feedback as to how we are doing to provide value to our membership.
“You are, at this moment, standing right in the
middle of your own ‘acres of diamonds.’"
~ Earl Nightingale
DVRC truly is a special group of “diamonds” – here’s to a fabulous Spring!
Warm regards,
Regina Coia, CRP
President & Chief Operating Officer,
Coldwell Banker Preferred
Inside This Issue
New HUD-1: Difficult to Determine
Origination Fee Deductibility
2
2
DVRC Board Elections & Proposed Bylaw Changes 3
Highlights from the DVRC Fall Conference
2010 Charitable Event
4
5
2009 Board of Directors & Mission Statement
5
Conference Agenda
6
Industry Announcements
New HUD-1: Difficult to Determine Origination Fee Deductibility
Worldwide ERC® members
are confronting a new issue
as a result of the structure of
the new HUD RESPA rules,
the Good Faith Estimate
(GFE), and the new HUD-1
Settlement Statement.
The IRS has for many years
considered a lender’s
“origination fee” to be
deductible as interest, in the
same way as points, if it is
calculated and stated as a
percentage of the loan
amount. Consequently, the
origination fee stated on the
HUD-1 was usually
considered to be deductible
by the borrower. Companies
that reimbursed a transferee’s origination fee in the
destination location typically
would exclude that fee from
the amounts they grossed
up, because the fee was
deductible as interest by the
transferee and its
reimbursement usually did
not result in any additional
tax liability.
However, in the new RESPA
rules that took effect January
1, 2010, the GFE contains a
block for “our origination
charge” that is an
amalgamation of all charges
related to originating the
loan, including such items as
attorney fees to prepare
originator documents. It may
or may not include a charge
calculated as a percentage of
the mortgage, like points.
That approach is continued
on line 801 of the HUD-1,
which is not limited to the old
type of deductible origination
charge, but reflects the entire
bucket of charges related to
originating the loan.
As a result, companies are no
longer allowed to assume that
any portion of the origination
fee is deductible, and may
have to adjust their gross-up
policies. Unless the underlying
documentation breaks out in
some way the portion of the
origination fee (if any) that is
calculated as a percentage of
the loan, then no part of the
origination fee is deductible.
Worldwide ERC® members
may need to discuss this issue
with mortgage lenders and
loan originators to clarify
whether there is any way to
determine the deductible
portion (if any) of the
origination fee.
Reprinted with permission of Worldwide ERC from the Jan/Feb 2010 Tax and Legal Update
Highlights from the DVRC Fall Conference
By Anne Cowburn - Bank of America
Our fall conference, “The American Resolve,” was launched by
Clebe McClary, inspirational speaker and decorated Viet Nam
war veteran. His message “Giving What it Takes” is clearly transferable to our resolve to provide supportive and expert relocation assistance to the transferring employees our industry serves.
Conference attendees rated his talk very highly with 58% Excellent; 19% Very Good and 23% Good.
Chairman Worldwide ERC® Foun-
nerstone Relocation Group and Mi-
dation for Workforce Mobility and
chael Fuhrman of Teva Pharmaceuti-
Nigel Richardson, a green-certified
cals. Panelists explained their chal-
realtor with Coldwell-Banker Pre-
lenge and attendees were divided into
ferred. It was noted that most
small groups to discuss solutions
requests for proposal include ques-
which they presented to the group
tions about how our businesses are
followed by our panelists revelation of
incorporating environmental impact
how they had handled these chal-
and that consumers are increasingly
lenges. 52% of participants rated this
Our second session, “Leading the Way” dealt with the impor-
interested in owning green-built
session Excellent; 34% Very Good and
tance of including green initiatives in our business practices. Our
homes. This session proved useful
14% Good.
knowledgeable presenters were Kevin Rich, SCRP, CMC 2009
to respondents with 47% rating the
panel Excellent; 37% Very Good
and 16% Good.
The “Solutions Workshop” asked
conference participants to weigh in
on actual relocation challenges
presented by our three panelists,
Sylvia Ehrlich of The Intrepid New
Yorker, Michelle Falcinelli of Cor-
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After each conference, DVRC distributes an on-line survey inviting you to
provide feedback on our programming
and suggestions for future meetings. It
is our goal to provide the most useful
and compelling content for our members.
DVRC Board Elections
Proposed Bylaws Changes
Bylaws change #1:
There are four (4) Officer Seats and seven (7) Director
seats to be filled in this upcoming election. Active
DVRC members shall be provided a ballot to vote on the
By-laws changes and the nominees listed below for
each open position. Only one vote per DVRC Member
organization will be allowed for this election. The nominees for open positions are as follows:
OFFICERS
President:
Regina Coia, CRP, Coldwell Banker Preferred
Anne Cowburn, CRP, Bank of America
DVRC to require that at least one-third of the total
number of Directors on the Board be from our Corporate membership.
Rationale: To insure corporate participation on the
Board that approximates the relative historical corporate membership in DVRC.
Bylaws change #2:
Allow any voting (e.g. changes in Bylaws, elections of
officers, etc.) from the DVRC membership to be completed electronically rather than attendance at the annual meeting (this would include the use of the DVRC
web site or a similar portal/ internet-based application).
Rationale: For convenience of the membership and to
assure the maximum participation in any vote.
Bylaws change #3:
Vice President:
Diane Kelts, AstraZeneca (CORPORATE Member)
Treasurer:
Terry Johnson, CRP, Old Republic Title
Ian Faber, Global Tax Network Philadelphia,
Secretary:
Jean Waldman, Temporary Housing Directory
Allow the DVRC President (with consent of the DVRC
Board of Directors) to make technical corrections to the
By-laws without having to wait for an annual meeting
or vote of the entire membership.
Rationale: For example, there are places in the By-laws
where the word “council” appears to refer to the entire
membership and other places where it appears to refer
to the Board only. This amendment would not allow
the President or the Board to make substantive or procedural changes without a full vote of the membership.
DIRECTORS
(you may vote up to seven nominees) :
Maureen Potts, GlaxoSmithKline (CORPORATE Member)
Carin Talucci, QVC (CORPORATE Member)
Bob Ludwig, CRP, Reads Moving System
John McGowan, Larrabee, Cunningham & McGowan, P.C.
Grant Kehler, O'Neill Property Group
Sander Gottlieb, CRP, Paragon Relocation
Peter Larkin, CRP, GMS, Altair Global Relocation
Kim Rudolph, OnePoint Solution, LLC
Melissa Tice Holmes, IMS Health (CORPORATE Member)
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INDUSTRY ANNOUNCEMENTS!
Worldwide ERC® Announces New CEO: Peggy Smith Brings
“Keen Understanding” of Mobility Industry
Arlington, VA, USA - Worldwide ERC®, the
workforce mobility association, announced
today that Peggy Smith, SCRP, GMS has
been named as its new chief executive officer, effective May 15, 2010. Smith comes
to Worldwide ERC® from software giant
Microsoft Corporation, where she was Director, Global Mobility, with responsibility
for more than 5,000 annual global moves.
Smith takes the reins from Karen Reid,
who has been holding dual posts since
agreeing to serve as Interim Director last
May. Reid will continue in an executive capacity in her new role as Executive Vice
President, with responsibilities in program
strategies and execution, global expansion
Per ERC Release:
and partnerships, web and marketing strategies and staff development. "Karen stepped
in to provide strong leadership at a critical
time for Worldwide ERC®, and further solidified its position as a premier educator, innovator and authority in the global mobility
marketplace. I look forward to working with
her and the entire Worldwide ERC® team,"
said Smith, who is widely acknowledged as a
creative and focused leader. "I see much
positive challenge and unlimited possibilities
in Worldwide ERC®’s future. The association
and its members have been influential in
many environments and regions, and I believe there are more frontiers to successfully
address that will bring our association to the
next level."
Long-time DVRC Member - Jack Connelly
John A. "Jack" Connelly, a happy, kind, dedicated and hardworking friend and colleague to many in the workforce mobility industry passed away suddenly on Thursday, April 15. He was 67.
Jack’s personal brand as an always smiling, positive and knowledgeable sales professional and relationship-builder was
well known, and outside of his commitment and love for his wife Bunny and his kids and grandkids, his second family
was clearly comprised of those friends he met and treasured within his Worldwide ERC family. How fitting that the
morning he passed, he was to play golf with one of his close ERC friends.
Cinco de Mayo
Cinco de Mayo—May 5—is a festive, lively Mexican celebration that has become increasingly
popular in the United States. Although many believe it to be Mexico’s Independence Day, May 5
actually represents Mexico’s victory over France at the battle of Puebla in 1862.
Throughout most of Mexico, Cinco de Mayo goes remarkably unnoticed. A few sporadic celebrations occur throughout the country. One place the date is commemorated is in the city of Puebla
where the original battle took place. Parades of the military, marching bands and school children march through the streets. Vendors set up stalls selling traditional Mexican foods and various patriotic wares. There is often a re-enactment of the French troops' being defeated and
fleeing the scene.
In the United States, Cinco de Mayo has become highly
commercialized. Mexican heritage is celebrated on May 5th
with parades, parties and folk festivals throughout the country. Red, white and
green, the colors of the Mexican flag, are festively displayed. Mexican tissue-paper
decorations and flowers featuring these colors are commonly found. Mariachi
bands blare Mexican folk music. Traditional food and drink associated with Mexico,
such as tortillas, salsa, tacos, tamales and margaritas, are common fare at Cinco
de Mayo celebrations.
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2010 Charitable Event
Doctors Without Borders/Médecins Sans
Frontières (MSF) is an international medical
humanitarian organization created by doctors
and journalists in France in 1971.
Today, MSF provides aid in nearly 60 countries to people whose survival is threatened by violence, neglect, or catastrophe, primarily due to armed conflict, epidemics, malnutrition, exclusion from health care, or natural disasters. MSF provides independent, impartial assistance to those most in need. MSF reserves the right to
speak out to bring attention to neglected crises, to challenge inadequacies or abuse
of the aid system, and to advocate for improved medical treatments and protocols.
In 1999, MSF received the Nobel Peace Prize.
www.doctorswithoutborders.org
2009 DVRC Board of Directors
Officers
Board Members
President:
Angela C. Sanita-Soto,
Regina Coia, Coldwell Banker Preferred
Vice President:
Diane Lenhard Kelts, AstraZeneca Pharmaceuticals
Treasurer:
Emeritus
Anne Cowburn,
Bank of America
Secretary:
Jean Waldman, Temporary Housing Directory
Janet Olkowski,
Carin Talucci,
Cornerstone Relocation Group
Bob Ludwig,
GlaxoSmithKlne
QVC, Inc.
Jason Suto, TheMIGroup
John F. McGowan,
LCM Relo Solutions
Reads Moving Systems
Maureen Potts,
DVRC Mission Statement
DVRC is an organization of relocation professionals from corporations and service providers throughout the tri-state area
of Delaware, New Jersey and Pennsylvania. DVRC is dedicated to "sharing ideas and creating solutions" through networking that will promote equitable relocation policies and enhance professional relationships.
Our mission is to provide the resources of a premier forum for relocation professionals in the Greater Delaware Valley, to
ensure members' success and keep them at the forefront of the relocation industry.
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Conference Agenda
10:00 AM - 12:00 Noon
Pre-Sessions
I. Corporate Roundtable
Corporate-only discussion addressing topics of concern and benchmarking new ideas.
II. Relocation Career Workshop
Career updates and ideas for those looking to hire or be hired.
Special Guest Elva Blankins, Sr. VP of Corporate Services—OI Partners
12:00 Noon - 1:00 PM
DVRC Business & Luncheon
1:00 PM - 2:00 PM
Session I - “Mastering new rules and playing to win.”
Panel of industry experts explore the new playing field for relocation and strategies for winning.
Panelists:
Diane Lenhard Kelts – Astra Zeneca Pharmaceuticals, Inc.
Bill Humphrey – SVP, Managing Director – Xonex Relocation
David Oltman – Co-Founder, President & CEO, Relocation Taxes, LLC
Wendy Morrell – SVR, National Director - CitiMortgage
Facilitator:
Anne Cowburn, Bank of America Home Loans
2:00 PM – 2:15 PM
Break
2:15 PM – 3:30 PM
Session II - “Creative relocation management: the Lump Sum Approach”
Presenter:
Bob Ludwig – Reads Moving & Storage
Session explores the use of lump sum relocation benefit programs with corporate professionals representing a variety of approaches. The session will include an overview of lump sum relocation programs, case studies from our panel of experts followed
by roundtable discussions to determine solutions for the case studies which will be shared with the group.
Panelists:
Laura L. Biggs - Comptroller of the Currency
May Caffi - Marriott International, Inc.
Eileen T. Yurick - GlaxoSmithKline
3:30 PM – 4:00 PM
Break
4:00 PM – 5:15 PM
Session III - “Puertas Abierdas o Cerradas”
Several years ago governments around the world were racing to open their doors wider to talented foreign professionals. With a
still sluggish economy and unemployment at record levels, many of these same governments are seeking to close their doors to
this same talent. Yet recent reports say a labor shortage is on the horizon. Should doors be opened or closed? This panel will
explore recent shifts in immigration laws in key destinations and how they are impacting corporate global mobility practices. The
panel will provide useful tips on what you can do to get through the door whether it is opening or closing.
Moderator:
Lynn Shotwell, Executive Director, American Council on International Personnel – Panelists:
Andrea Bauler – Thomson Reuters
William “Pat” Patterson - Accenture
Nancy Sharp- Fragomen, Del Rey, Bernsen and Loewy
5:15 PM – 6:30 PM
Margaritaville!!
Networking opportunity with conference attendees and presenters
CRP credits: 3 for conference, 2 for corporate only
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