§ 1203.5. Allowable fees and expenses.
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/us/cfr/t12/s§ 1203.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Awards of fees and other expenses will be based on rates customarily charged by persons engaged in the business of acting as attorneys, agents, and expert witnesses, even if the services were made available without charge or at a reduced rate to the party. However, except as provided in § 1203.6, an award for the fee of an attorney or agent may not exceed $125 per hour and an award to compensate an expert witness may not exceed the highest rate at which FHFA pays expert witnesses. However, an award may also include the reasonable expenses of the attorney, agent, or expert witness as a separate item if he or she ordinarily charges clients separately for such expenses.
(b)In determining the reasonableness of the fee sought for an attorney, agent, or expert witness, the adjudicative officer will consider the following:
(1)If the attorney, agent, or expert witness is in private practice, his or her customary fees for similar services; or, if the attorney, agent, or expert witness is an employee of the eligible party, the fully allocated costs of the services;
(2)The prevailing rate for similar services in the community in which the attorney, agent, or expert witness ordinarily performs services;
(3)The time actually spent in the representation of the eligible party;
(4)The time reasonably spent in light of the difficulty or complexity of the issues in the adversary adjudication; and
(5)Such other factors as may bear on the value of the services provided.
(c)In determining the reasonable cost of any study, analysis, engineering report, test, project, or similar matter prepared on behalf of a party, the adjudicative officer will consider the prevailing rate for similar services in the community in which the services were performed.
(d)Fees and other expenses incurred before the date on which an adversary adjudication was initiated will be awarded only if the eligible party can demonstrate that they were reasonably incurred in preparation for the adversary adjudication.