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B-183958 1 (1976-04-14)

handle is hein.gao/gaobaddpm0001 and id is 1 raw text is: . THE COMPTRC.IsLER GENERAL DECISIDi .$? . OF THE UNITED STATES WASHINGTON. D. C. 20548 FILE: B-183958 DATE: APR 14 1976 MATTER OF: James E. King - Real Estate Expenses - Mortgage and Title Insurance DIGEST: 1. Transferred employee may not be reimbursed for CM1I Premium fee, which is described as mortgage insurance fee, since Federal Travel Regulations (FPM 101-7) para. 2-6.2d (May 1973) specifically provides that cost of mortgage insurance is not reimbursable. 2. Transferred employee may be reimbursed for cost of Mortgagee's Title Policy since Federal Travel Regulations (FFiR 101-7) para. 2-6.2d specifically states that cost of mortgagee's title insurance is reim- bursable, and such costs are excepted from the definition of finance charges in the Truth in Lending Act. This matter is before us based upon a request for an advance deci- sion submitted on May 8, 1975, by MIs. Marie A. Watkins', an authorized certifying officer, Department of the Treasury, Bureau of Alcohol, Tobacco and Firearms, concerning authority to reimburse Mr. James E. King for certain expenses he incurred on October 11, 1973, when he pur- chased a residence incident to a transfer of permanent duty station. The expenses involved are $393.75 for mortgage guarantee insurance (Cul Premiuna) and $516.25 for mortglaee's title insurance ('lfortzagee's Policy). The CM-I Premium has been described, in a February 21, 1975 letter from Stewart Title of Louisiana, Inc., as a fee for the purchase of private mortgage insurance to insure the leader egainst any loss arising from a default by the buyer and a subsequent seizure and sale of the mortgaged property. Paragraph 2-6.2d of the Federal Travel Regulations (FTR) authorizes reimbursement of miscellaneous real estate expenses incurred incident to a transfer of permanent duty station and provides, in pertinent part, thatt * & *The cost of a mortgage title policy paid for by the empioyee on a resince pur sed bY him is reai- bursable but costs of other types oi insurance paid for

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