[Federal Register: December 20, 2002 (Volume 67, Number 245)]
[Notices]
[Page 78042]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20de02-129]
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DEPARTMENT OF VETERANS AFFAIRS
[OMB Control No. 2900-0110]
Proposed Information Collection Activity: Proposed Collection;
Comment Request
AGENCY: Veterans Benefits Administration, Department of Veterans
Affairs.
ACTION: Notice.
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SUMMARY: The Veterans Benefits Administration (VBA), Department of
Veterans Affairs (VA), is announcing an opportunity for public comment
on the proposed collection of certain information by the agency. Under
the Paperwork Reduction Act (PRA) of 1995, Federal agencies are
required to publish notice in the Federal Register concerning each
proposed collection of information, including each proposed extension
of a currently approved collection, and allow 60 days for public
comment in response to the notice. This notice solicits comments for
information in determining a release of liability and substitution of
entitlement of veteran-sellers to the Government on GI or direct loans.
DATES: Written comments and recommendations on the proposed collection
of information should be received on or before February 18, 2003.
ADDRESSES: Submit written comments on the collection of information to
Nancy J. Kessinger, Veterans Benefits Administration (20S52),
Department of Veterans Affairs, 810 Vermont Avenue, NW., Washington, DC
20420 or mailto:irmnkess@vba.va.gov. Please refer to ``OMB Control No.
2900-0110'' in any correspondence.
FOR FURTHER INFORMATION CONTACT: Nancy J. Kessinger at (202) 273-7079
or FAX (202) 275-5947.
SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Pub. L. 104-13; 44
U.S.C., 3501-3520), Federal agencies must obtain approval from the
Office of Management and Budget (OMB) for each collection of
information they conduct or sponsor. This request for comment is being
made pursuant to Section 3506(c)(2)(A) of the PRA.
With respect to the following collection of information, VBA
invites comments on: (1) Whether the proposed collection of information
is necessary for the proper performance of VBA's functions, including
whether the information will have practical utility; (2) the accuracy
of VBA's estimate of the burden of the proposed collection of
information; (3) ways to enhance the quality, utility, and clarity of
the information to be collected; and (4) ways to minimize the burden of
the collection of information on respondents, including through the use
of automated collection techniques or the use of other forms of
information technology.
Title: Application for Assumption Approval and/or Release from
Personal Liability to the Government on a Home Loan, VA Form 26-6381.
OMB Control Number: 2900-0110.
Type of Review: Extension of a currently approved collection.
Abstract: Title 38, U.S.C., Section 3713(a) provides that when a
veteran disposes of his or her interest in the property securing the
loan, VA may, upon request, release the original veteran-borrower from
personal liability to the Government only if three requirements are
fulfilled. First, the loan must be current. Second, the purchaser must
assume all of the veteran's liability to the Government and the
mortgage holder on the guaranteed loan. Third, the purchaser must
qualify from a credit and income standpoint, to the same extent as if
he or she were a veteran applying for a VA-guaranteed loan in the same
amount as the loan being assumed. Veterans who are selling their homes
by assumption rather than requiring purchasers to obtain their own
financing to pay off the loan must complete this form. The information
furnished is essential to determinations for assumption approval,
release of liability, and substitution of entitlement.
Affected Public: Individuals or households, business or other for
profit.
Estimated Annual Burden: 596 hours.
Estimated Average Burden Per Respondent: 10 minutes.
Frequency of Response: On occasion.
Estimated Number of Respondents: 3,575.
Dated: December 10, 2002.
By direction of the Secretary.
Ernesto Castro,
Director, Records Management Service.
[FR Doc. 02-32092 Filed 12-19-02; 8:45 am]
BILLING CODE 8320-01-P