82 FR 25499 - Agency Information Collection Activity Under OMB Review: Create Payment Request for the VA Funding

DEPARTMENT OF VETERANS AFFAIRS

Federal Register Volume 82, Issue 104 (June 1, 2017)

In compliance with the Paperwork Reduction Act (PRA) of 1995, this notice announces that the Veterans Benefits Administration, Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden and it includes the actual data collection instrument.

[Federal Register Volume 82, Number 104 (Thursday, June 1, 2017)]
[Notices]
[Page 25499]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-11300]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0474]


Agency Information Collection Activity Under OMB Review: Create 
Payment Request for the VA Funding

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995, 
this notice announces that the Veterans Benefits Administration, 
Department of Veterans Affairs, will submit the collection of 
information abstracted below to the Office of Management and Budget 
(OMB) for review and comment. The PRA submission describes the nature 
of the information collection and its expected cost and burden and it 
includes the actual data collection instrument.

DATES: Comments must be submitted on or before July 3, 2017.

ADDRESSES: Submit written comments on the collection of information 
through www.Regulations.gov, or to Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attn: VA Desk Officer; 725 
17th St. NW., Washington, DC 20503 or sent through electronic mail to 
[email protected]. Please refer to ``OMB Control No. 2900-
0474'' in any correspondence.

FOR FURTHER INFORMATION CONTACT: Cynthia Harvey-Pryor, Enterprise 
Records Service (005R1B), Department of Veterans Affairs, 810 Vermont 
Avenue NW., Washington, DC 20420, (202) 461-5870 or email 
[email protected]. Please refer to ``OMB Control No. 2900-
0474'' in any correspondence.

SUPPLEMENTARY INFORMATION: 

    Authority:  Public Law 104-13; 44 U.S.C. 3501-21.

    Title: Create Payment Request for the VA Funding Fee Payment System 
(VA Form 26-8986).
    OMB Control Number: 2900-0474.
    Type of Review: Revision of an approved collection.
    Abstract: Information is needed to exempt a veteran from paying a 
funding fee. A funding fee must be paid to VA before a loan can be 
guaranteed. The funding fee is payable on all VA-guaranteed loans, 
i.e., Assumptions, Manufactured Housing, Refinances, and Real Estate 
purchase and construction loans. The funding fee is not required from 
veterans in receipt of compensation for service connected disability or 
veterans in receipt of compensation for service connected disability of 
veterans who, but for receipt of retirement pay, would be entitled to 
receive compensation for their service connected disability. Loans made 
to the unmarried surviving spouses of veterans (who have died in 
service or from service connected disability) are exempted from payment 
of the funding fee, regardless of whether the spouse has his/her own 
eligibility, provided that the spouse has used his/her eligibility to 
obtain a VA-guaranteed loan. For a loan to be eligible for guaranty, 
lenders must provide a copy of the Funding Fee Receipt or evidence the 
veteran is exempt from the requirement of paying the funding fee. The 
receipt is computer generated and mailed to the lender ID number 
address that was entered into an Automated Clearing House (ACH) 
service.
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid OMB control number. The Federal Register Notice with a 
60-day comment period soliciting comments on this collection of 
information was published at 82 FR 43 on March 7, 2017, pages 12919-
12920.
    Affected Public: Business or other for profit.
    Estimated Annual Burden: 13,333 hours.
    Estimated Average Burden per Respondent: 2 minutes.
    Frequency of Response: One time.
    Estimated Number of Respondents: 400,000.

    By direction of the Secretary.
Cynthia Harvey-Pryor,
Department Clearance Officer, Office of Privacy and Records Management, 
Department of Veterans Affairs.
[FR Doc. 2017-11300 Filed 5-31-17; 8:45 am]
 BILLING CODE 8320-01-P