B-228691: Sep 21, 1988

The employing agency disallowed the entire fee on the ground it was a nonreimbursable finance charge. The real estate closing was held December 5. 024 represented a "commitment fee" and was used to "commit the rate for 75 days" and also "to adjust the yield on the loan.". Because it concluded the fee was a finance charge. The Finance and Accounting Officer states the following: "This Command is aw...

B-228691: Sep 21, 1988

The Army requested an advance decision concerning a transferred employee's claim for reimbursement of a loan origination fee he paid in purchasing his new residence. The Army noted that it reimbursed the claimant based on information regarding the customary charges in the claimant's new residence area. The claimant contended that he was entitled to reimbursement of the entire loan origination fee...