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B-203630 1 (1982-03-09)

handle is hein.gao/gaobadkdb0001 and id is 1 raw text is: 2/ OPCISION Th5 COMPTROLLER --MNIERAL OF THE UNITED STAT E8 WA3HINGTON, 0,0C, Ro054e FILE: B-203630 MATTER OF: DAT : Stanley March 9, 1982 Keer ---Loan origination Fee DIGEST; Employee: mayo not be r irmbursed loan origination fee incurred inoident to purchasing a house at his new duty station,- sinQ % fee Js a fInance charge within the meaning,of Regulation Z, 12 C,F,R, S_226,4 ( ) (1981), Lender's description of charge as being'reim- bursement for its gnneral and administra- tive, expenses, which are the same as overhead expenses, does not bring charge within exceptions to what constitutes a finance charge, Therefore, Itls not a reimbursable item under paragraph 2-6,2d of the Federal Travel Regulations. This dec islon is in- response to'a request f-or an advance decision submitted by the Defense Contract AUdt Agency, PhiladelphiQ Region, concerning reimbursement of a loan originatJr. fee paid by Mr. Stanley Keer Inci- dent to the purchasefof a home at his new duty station. The record indicatesuMr. Keer was transferred from his old duty statton at Falls Church, virginia, to Phil- adelphia Pennsylvania, Incident to his-transfer, he entered Into a loan agreement with Advance Mortgage Corporation. He paida- loan fee of ?1,800, $900 of it sho'Wn as aJloan origination fee,,. 'Mr. Keer claims $818 of this amountas reimbursable to' him as fees paid for service charges relating to' his mortagage for purchase of a residence at his new duty station. His claim is limited to.the amount stated because of the overall limitation on the reimbursement of real estate expenses. We find this fee to constitute a finance charge and not reimbursable. In support of his claim for reimbursement of Ehe loan origination fee, Mr. Keer attached a. copy of a letter dated .ebruary 6, 1981, from Anthony McDermott, -4, - - .9'. - ,.'. - . -' -. - -.............- - 4. -' '. ' ~'*' *~' F' F ~- -- *'4'~U - - ~rq -- - - -- - - 11 -

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