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B-185999 1 (1976-10-08)

handle is hein.gao/gaobaddxx0001 and id is 1 raw text is: NN THE CDIMPTROLLER GENERAL DECISION OF THE UNITED BTATES WVSHINlGTON. 0.0C. 2054L3 FikE: -185999 DATE: Octob*r 8,is v6 MATTFf OF: Cecil W. Foss DIGEST: Reimbursement of loan origination fee representing only items which are reimburs- able under FTR para. 2-6.2 is allowable, to extent reasonable and customary, even thogh claim lack3 specific itemiz;!tion of portion of fee allocable to each reiabursabie item. This rction is in responst to a rtquest dated February 25, 1976, from Ms. Orris C. fuet, Authorized Certifying Officer, United States Dspartment of Agriculture, for a decision on the proprieLy of certifying foc payment of a voucher tubmitted by Mr. Cecil W. Foss for reimbursement of a loan origination fee paid in connection with the purchase of kits residence Incident to his change of official station in the continnaiLAl Uuted States. The claim for reimbursement of the loan origination fee in the arount of $370 was disallowed by the Peuartment of Agricul- tare in vlew of the prohibition of Federal Travel Regulations (FPMR 101.-7), psra. 2-6,2d (May 1973) against reimbursement of finance charges under ti Truth in Lending Act, Till I, Public Law 90-321. However, the zlaifmatiL has reclaimed this amount with a supporting statement from the vice president of the lending institution, explaining, in part, that: Although this bank does not itemize all the individual ecpenses necessary to the closing of a transaction such as this, the $370.00 fee paid by purchaser covers the following items: 1. ** * 2. Cost of preparing deeds. 3. Costs of preparing conveyances, contracts and other documents necessary to closing this real estate transaction. 4. Escrow agent's fee. 5. Closing agent's fee. I

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