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B-218955 1 (1986-04-11)

handle is hein.gao/gaobadmgu0001 and id is 1 raw text is: DECISION FILE: B-218955 MATTER OF: A E DIGEST: 1. 0ou-R o0, THE COMPTmOLLmR ENUIAL COP THE UNITED STATUS a WASHINGTON. D.C. 20548 (INIT 1b DATE: April 11, 1986 lan R. Fetter - Entitlement to Real Estate xpenses A transferred employee purchased a residence near his new duty station. Among the expenses charged by his mortgage lender was a 1 percent rate buydown. He claims that item is reimbursable as part of a loan origi- nation fee package. A rate buydown on a mortgage loan is simply another name for a mortgage discount or points. Since paragraph 2-6.2d(2)(b) of the Federal Travel Regulations specific- ally excludes such an item from reimbursement, the claim is denied. 2. A transferred employee purchased a residence near his new duty station. Among the expenses charged by his mortgage lender was a 2-1/2 percent service charge for originating the loan. He was reimbursed $1,100 (I percent of the loan) and now claims the remainder. Under paragraph 2-6.2d(1)(b) of the Federal Travel Regulations, such fees are reimburs- able, but not to exceed amounts custom- arily charged in the area. Since we give great weight to HUD information regarding customary locality rates, and HUD has advised that the customary rate is 1 percent, reimbursement was properly limited to that amount and the claim for the remainder is dis- allowed. 3. A transferred employee purchased a residence near his new duty station. Among the expenses charged by his mortgage lender was a $100 document preparation fee, in addition to the loan service charge. Since paragraph

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