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B-196689 1 (1979-12-13)

handle is hein.gao/gaobadhum0001 and id is 1 raw text is: DECISION '~T 0 UNITE¶. HE COMPTROLI IF THE UNIT A S H IN G TON, FILE: B-196689 DATE: Deceml MATTER OF: Wayne E. Webb - eal estate expens Loan origination fee DIGEST: Federal employee upon transfer paid 1 p the amount of a loan on purchase of res a loan origination fee. Reimbursement origination fee is not authorized under Travel Regulations, para. 2-6.2d (May 1 since such fee is a finance charge wi definition of that term in section 106( Truth in Lending Act. The issue presented in this appeal from a set Claims Division is whether a loan origination fee employee to secure a mortgage for purchase of a re transfer may be reimbursed as a real estate expens 5724a (1976). The answer is no. Mr. Wayne E. Webb, an employee of the Geologi Department of the Interior, paid a loan originatia purchase of a residence in Reston, Virginia. The residence was in connection with an official trans The loan origination Lee of $495 represented 1 per principal amount of his $49,500 mortgage loan. Mr. Webb argues that the loan initiation fee he incurred which was required in order for him t( purchase a house and, therefore, it should be reir points out that a mortgage prepayment penalty inci a house at the old residence is reimbursable. He the origination fee and prepayment penalty are bol mortgage company and he believes both should be ti Authority to reimburse a Government employee considered necessary and appropriate for all oi the expenses incurred in connection with the purcl residence upon official transfer of station is foi tion 5724a of title-5 of the United States Code (- to prescribe regulations implementing the above si to the President. The President delegated his fu statute to the Administrator of the General Servic tion(GSA) by Executive Order No. 11609, July 22, ) ER GENERAL =D STATES D.C. .D548 A rcent of dence as.e f loan -. Federal P73) Shin the ) of thej Llement of our Daid by am sidence up on e under 5 U.S.C. al Survey, i fee on the purchase df the fer of stdtion. cent of the was an expense get a loan to bursable. He rred in selling indicates ithat h income tp a eated the same. to the ex ent a part o ase of a nd in sec- 976). Povpr atute is &iven ction under the es Admini.4tra- 971. The. -A3 I P. on-L

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