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B-186921 1 (1976-11-29)

handle is hein.gao/gaobaddzs0001 and id is 1 raw text is: Peter lennicelli E S Nk THE COMPTROLLER GENERAL 01v1Pern. N DECIS~l~l. .2 .OF THE UINITED STATES WASHINGTON, D.C. 2OS48 0 FILE: B-186921 DATE: November 29, -1976 MATTER OF. Nicolas J. Panos - Real Estate Expenses - Loan Origination Fee -. DIGEST: 1. D!.sallowance of reimbutsement for Loan origination fee incurred by Federal employee incident to sale of residence upon transfer of of- ficial duty station is sustained. Loan origination fee is finance charge within meaning of that term as defined by section 106(a) of Truth in Lending Act and thus is not reimbursable under Federal Travel Regulations (FPMR 101-7), para. 2-6.2d (May 1973). 2. Certifying officer questions cor- rectness of reimbursement of closing costs made to transferred employee who sold his residence because pur- chaser usually pays such costs. Since there is doubt, she should consult local office of Department of Housing and Urban Development as to local custom. If it is local custom that seller pays such costs, no action need be taken; however, if purchaser customarily pays such costs, payment should be collected. This action is in response to a request from Orris C. Huet, an authorized certifying officer of the National Finance Center, United States Department of Agriculture, dated June 24, 1976, regarding the propriety of certifying for payment a reclaim voucher in favor of Mr. icolas J. Panos representing real estate expenses incurred iii connection with the sale of his residence in Atlanta, Georgia, in May 1975, upon change of his official duty station from Atlanta to Washington, D.C. Mr. Panos had originally submitted a claim for closing costs in the amount of 4990. Later, a breakdown of that amount was obtained, and $635 was certified as

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