B-197544: Jul 10, 1980

DIGEST: TRANSFERRED EMPLOYEE MAY NOT BE REIMBURSED LOAN ASSUMPTION FEE INCURRED INCIDENT TO PURCHASING A HOUSE SINCE FEE IS FINANCE CHARGE WITHIN THE MEANING OF REGULATION Z. CONNORS - REAL ESTATE EXPENSES - LOAN ASSUMPTION FEE: THIS ACTION IS IN RESPONSE TO A REQUEST DATED JANUARY 18. C. THE PURCHASE WAS MADE INCIDENT TO MR. CONNORS' CLAIM WAS DENIED BY HUD ON THE BASIS THAT OUR DECISIONS DEAN E...

B-197544: Jul 10, 1980

The certifying officer of an agency requested a determination regarding the propriety of certifying for payment a reclaim voucher for an employee which represented a loan assumption fee incurred in connection with the purchase of a home incident to relocation. The agency denied the loan assumption fee as a cost incident to the extension of credit and therefore a nonreimburseable finance charge und...