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B-193318 1 (1979-09-20)

handle is hein.gao/gaobadhpu0001 and id is 1 raw text is: OLLER 0 pP THE COMPTROLLER GENERAL DECISION . OF THE UNITED STATES SWASHINGTON. 0.C. 20548 FILE: B MATTER DIGEST: -193318 DATE: September 20, 1979 OF: Robert E. Whitney - Real Estate Expenses7- Exclusions from Finance Charge 1. Employee may be reimbursed for $35 survey fee incident to financing purchase of a residence upon his relocation. Although assessed by the lending institution, the survey fee is expressly excluded from the definition of a finance charge by Regulation Z, 12 C.F.R. § 226. 4(e)(1), the fee is reasonable in amount, and all-inclusive fee, initially characterized as a loan origin- ation fee, is sufficiently itemized to show the portion allocable to the survey fee. See Anthony J. Vrana, B-189639, March 24, 1978. 2. Although assessed by the lending institution as part of a charge initially characterized as a loan origination fee, employee may be reim- bursed for recording fees if they are customarily paid by purchaser in the area and do not exceed amounts customarily charged in the locality. FTR 2-6. 2c. While recording fees are not expressly excluded from the definition of a fi- nance charge under 12 C. F. R. 226. 4(e) they are not a condition for the extension of credit and, thus, are not part of the finance charge as defined by 12 C. F. R. 226. 4(a). 3. Employee may not be reimbursed for attorney fees assessed by lending institution and initially char- acterized as part of the loan origination fee unless certifying officer determines that such fees were incurred for the purposes specifically excluded from finance charges by Regulation Z, 12 C. F. R. § 226. 4(e), are reasonable in amount, and insofar as the attorneys fees are sufficiently itemized to show the portion of the origination fee allocable to each excluded item. This action is in response to a request dated October 20, 1978, from Elizabeth A. Allen, Chief, Accounting Section, of the Internal

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