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B-198468 1 (1980-10-17)

handle is hein.gao/gaobadiqa0001 and id is 1 raw text is: OtL~LER C4; THE COMPTROLLER GENERAL DECISION : OF THE UNITED STATES WASHINGTON. O. C. 20548 B-198468 DATE: October 17, 1980 MATTER OF Edward J. Brost - Rea, estate expenses - Loan origination fee DIGEST: A transferred employee paid a loan/ discount fee in connection with the sale of a residence at his old duty station which is a finance charge within the definition of that term in section 106(a) of the Truth in Lending Act. He claims that he should be reimbursed the loan fee in lieu of the realtor fees he saved by acting as his own realtor in selling the residence. Since such loan fees may not be reimbursed under Federal Travel Regulations (FPMR 101-7) para. 2-6.2d (May 1973), and since the employee incurred no selling expense, the claim is not payable. The Accounting and Finance Center, Headquarters 27th Tactical Fighter Wing (TAC), Cannon Air Force Base, New Mexico, requests an advance decision concerning pay- ment on a voucher submitted for reimbursement of $1,350 for a loan fee discount in connection with an employee's sale of a residence in October 1979, in Minot, North Dakota, upon his-transfer of station. Payment of the loan fee is denied since such charge is a finance charge within the definition of that term in the Truth in Lending Act and is not reimbursable under Federal Travel Regulations and reimbursement may not be made even though the Government realized a savings by the employee acting as his own realtor in selling his former residence. Mr. Edward J. Brost, an Air Force civilian employee, reported to his new duty station at Cannon Air Force Base, New Mexico, on November 8, 1979. He completed the sale of his residence at his old duty station, Minot Air Force Base, North Dakota, on October 4, 1979, and at the settlement he paid a discount/loan fee of $1,350 from the proceeds of the sale. Mr. Brost recognizes that reimbursement of such loan fees is generally prohibited by applicable regulations. However, he indicates that he saved the Government $3,360 IV~574 FILE: 14) jr

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