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B-221162 1 (1986-06-10)

handle is hein.gao/gaobadmis0001 and id is 1 raw text is: .W LLSR C THE COMPTriOLLE MENERAL 0ECISION OP THE UNITED STATES WASHINGTON. 0. C. 20548 TS B-221162 DATE: June 10, 1986 MATTER OF: William T. Bigby An employee who transferred in May 1982 may not be reimbursed for a loan reser- vation fee or a processing-closing fee charged by the lender in connection with his purchase of a residence at his new duty station. The reservation fee is similar to a commitment fee and the processing-closing fee is similar to a loan origination fee. Both are finance charges within the definition set forth in Regulation Z and neither may be reimbursed in view of the specific prohibition contained in Federal Travel Regulations, para. 2-6.2d (September 1981) (FTR), in effect at the time of transfer. A loan application fee charged by the same lender is excluded from the definition of a finance charge and may be reimbursed under FTR, para. 2-6.2d, as a fee similar to a VA or FHA fee for loan application. A transferred Federal employee claims reimbursement for a loan application fee, a loan reservation fee and a processing-closing fee charged by the lender in connection with the purchase of a residence at his new duty sta- tion. 1/ The loan reservation and processing-closing fees are finance charges which may not be reimbursed under the regulations in effect on the date of the employee's transfer. The loan application fee, however, is excluded from the definition of a finance charge and may be reimbursed as a real estate purchase expense. Mr. William T. Bigby, an employee of the Internal Revenue Service, was transferred from Tampa, Florida, to Detroit, Michigan. He reported to his new duty station on May 4, 1982. As an incident to his transfer, he was 1/ Mr. G. Fannin, Certifying Officer, Internal Revenue Service, Department of the Treasury, submitted this request for a decision. ocss( ( FILE: DIGEST:

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