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B-194732 1 (1980-04-11)

handle is hein.gao/gaobadied0001 and id is 1 raw text is: 9- LLE R tA 0 4 THE COMPTROLLER GENERAL DECISION OF THE -UNITED STATES WASHINGTON, D. C. 20548 FILE: B-194732 OATE:April 11, 1980 MATTER OF: Michael Maiello - Real Estate Expenses - Commitment Fee DIGEST: Transferred employeg may not be reimbursed loan commitment feeincurred incident to pur- chase of home at new official duty station since fee is finance charge within the purview of Sec- tion 106 of Truth in Lending Act, Title I, Public Law 90-321, 15 U. S. C. 5 1605 (1976) and Regula- tion Z, 12 C. F. R. § 226. 4(a) (1979) and is thus not reimbursable under Federal Travel Regula- tions (FPMR 101-7) paragraph 2-6. 2d (May 1973). This action concerns the appeal of Mr. Michael Maiello, an Electronic Engineer, Defense Logistics Agency, from the dis- allowance of his claim by our Claims Division for reimbursement of a fee of $530 paid by him when he purchased a home at his new official station which was listed on the bank's closing statement as a 1 percent commitment fee and on the Housing and Urban Develop- ment Disclosure/Settlement Statement as a loan origination fee. Mr. Maiellols claim was disallowed by our Claims Division on the basis that this fee represented a finance charge under Section 106 of the Truth in Lending Act, Title I, Public Law 90-321, 15 U.S. C. § 1605 (1976) and the implementing Regulation Z, 12 C.F.R. § 226. 4(a) (1979), and was thus not reimbursable under the Federal Travel Regulations (FPMR 101-7) paragraph 2-6. 2d (May 1973). We concur in this determination. The pertinent part of Regulation Z provides: 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 transaction shall be deter- mined as the sum of all charges payable directly or indirectly by the customer, and imposed directly

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