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B-198475 1 (1980-10-17)

handle is hein.gao/gaobadiqb0001 and id is 1 raw text is: TECOMPTROLLER GENE34AL DECISIO . OF THE UNITED STATES WASHINGTON, D.C. 20548 E B-198475 DATE: October 17, 1980 MATTER OF: Charles E. Berg - Real estate expenses - Loan origination fee DIGEST: Employee may not be reimbursed loan origination fee incurred incident to financing a house purchased upon his relocation since fee is finance charge within the meaning of Regula- tion Z, 12 C.F.R. 226.4(a). Mr. Charles E. Berg requests reconsideration of our Claims Division's February 14, 1980 denial of his claim for reimbursemen.t of a loan origination fee of $570 incurred incident to his purchase of a residence upon the transfer of his official duty station from Fairbanks, Alaska, to Aurora, Colorado. The denial is sustained. Mr. Berg's claim was denied on the basis that the loan origination fee represented a cost incident to the extension of credit within the purview of Regulation Z, 12 C-F.R. 226.4(a), ahd was thus not reimbursable under the Federal Travel Regulations (FPMR 101-7) para- graph 2-6.2d (May 1973). The pertinent part of Regula- tion Z states: S. 226.4 Determination of finance charge. (a) General rule. Except as otherwise provided in this section, the amount of the finance charge in connection with any trans- action shall be determined as the sum of all charges, payable directly or indirectly by the creditor as an incident to or as a con- dition of the extension of credit, whether paid or payable by the customer, the seller, or any other person on behalf of the cus- tomer to the creditor or to a third party, including any of the following types of charges: (2) Service, transaction, activity, or carrying charge. t_10*' I f_1 I Z _ 1'1 I

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