About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

B-189639 1 (1978-03-24)

handle is hein.gao/gaobadfup0001 and id is 1 raw text is: 

-- I


                        THE  COMPTROLLER GENERAL
DECISION. .''J.OF THE UNITED STATUE
                        WASHINGTON. D. C. 2054a
                 I lT10


FILE:  B-189639

MATTER  OF:


DIGEST:


DATE:    March 24, 1978


Anthony J. Vrana - Real Estate
Expenses - Loan Origination Pee


1.  Employee may not be reimbursed for
    loan origination fee paid incident
    to financing purchase of a residence
    upon his telonation, since the fee
    was stated as lump sum and included
    charges to cover the lender's over-
    head and underwriting expenses and
    is finance charge within the mean-
    ing of Regulation Z, 12 C.FR.
    S 226.4(a).

2.  Charges contained in loan origination
    fee incurred by reason of purchase or
    sale of a residence incident to a per-
    manent change of station may be reim-
    bursed only Af charge is (1) expres-
    sly excluded from finance charge by
    Regulation Z, 12 C.F.R. S 226.4(e),
    (2) reasonable in amount, and (3)
    itemized to show che portion of the
    origination fee allocabne to each
    item.  Matter of Cecil W. Foss,
    B-185999,OcEe      ,17;s
    overruled.

3.  The recAirement that reimbursable
    Tharges included in loan origination
    fee be itemized to show the portion
    of the total fee allocable to each
    item is prospective only and is not
    to be applied where the settlement
    of the transaction predates this
    decision.


     This action is in response to a request from Ms. Orris C.
Huet, an authorized certifying officer of the National Finance
Center, United States Department of Agriculture, reference
PI-2 OCH, oubstioning the propriaty of certifying a voucher


( ---A--  - .a
%-sr


'p

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most