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B-200167 1 (1982-09-21)

handle is hein.gao/gaobadkpy0001 and id is 1 raw text is: DECISION FILE: 119 * THE COMPTROL.7ONERAL OP THE UNITED SITATES WABHINGTONo, 0,0, I0548 B-200167 # DATE: September 21, 1982 MATTER OF: UW11g62 gn1 ;1 Leland D. Pemberton .0 Employee executed four deeds of trust to secure interim financing for purchase of residence pending execution of first mortgage 6 months later. Mortgage was used to pay off deeds of trust. Since deeds of trust and first mortgage were secured by employee's conveyance uf security interest in the property, both sets of transactions may be regarded as part of total financial package essential to purchase of residence. Consistent with t;0 Comp. Gen. 650 (1981) employee may be reimbursed escrow fee charged in connection with both transactions. In this case, we find no objection to reimburse- ment of escrow fees and related costs paid by Lelard D. Pemberton, a Forest Service employee, for both interim and primary financing of a home he purchased near his new duty station at Lee Vining, California. The seller could not delay closing of the sale until approval of Mr. Pemberton's primary financing, a Cal-Vet loan from the State of California. Mr. Pemberton therefore obtained four temporary or interim loans from private sources, and to secure the loans he and his wife executed a deed of trust for each loan to a bank acting in the capacity of a trustee and escrow agent. For the purpose of the January 1980 purchase of the residence financed with the proceeds of those four loans, the bank charged him an escrow fee of ,1120. At that time he also incurred a transfer tax and other costs associated with recordation of the grant deed. When the WCal-Vet loan was approved in June 1980, the bank opened a second escrow account. In addition to costs ordinarily associated with the processing of a first mortgage, the bank assessed Mr. Pemberton a fee P~.v \ lk

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