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B-194203 1 (1979-05-07)

handle is hein.gao/gaobadher0001 and id is 1 raw text is: THE COMPTROLLER GENERAL DECISION DF THE UNITED STATES VVASHINGTON, D. C. 20548 FILE: B-194203 ATE: MAY 0 7 1979 MATTER OF:( Lawrence F. Roth r Real Estate Expenses - Loan Transfer Fee DIGEST: Employee may not be reimbursed loan transfer fee incurred incident to purchasing a house since fee is finance charge within the meaning of Regulation Z, 12 C.F.R. § 226.4(2) (1978). This action is in response to eqest dated February 20, 1979, from an authorized certifying otficer of the Department of the Interior, regarding the propriety of certifying for payment a reclaim voucher in the amount of $200 in favor of Mr. Lawrence F. Roth representing a loan transfer fee incurred in connection with the purchase of a residence in Kansas City, Missouri. The purchase was pursuant to a permanent change of station from Sunnyvale, California. Mr. Roth's claim was denied by the Department of the Interior on the basis that the loan transfer fee represented a cost incident to the extension of credit within the purview of Regulation Z, 12 C.F.R. § 226.4(a) (1978), and was thus not reimbursable under the Federal Travel Regulations (FPMR 101-7) para. 2-6.2d (May 1973). The pertinent part of Regulation Z states: 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 customer to the creditor or to a third party, including any of the following types of charges: ,AaeoO633

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