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Agency Information Collection Activity: Statement of Purchaser or Owner Assuming Seller's Loan
Veterans Benefits Administration, Department of Veterans Affairs (VA), is announcing an opportunity for public comment on the proposed collection of certain information by the a...
SUPPLEMENTARY INFORMATION:
Under the PRA of 1995, 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:
Statement of Purchaser or Owner Assuming Seller's Loan (VA Form 26-6382).
OMB Control Number:
2900-0111.
https://www.reginfo.gov/public/do/PRASearch.
(Once at this link, you can enter the OMB Control Number to find the historical versions of this Information Collection).
Type of Review:
Revision of a Currently Approved Collection.
Abstract:
VA Form 26-6382, The Statement of Purchaser or Owner Assuming Seller's Loan, is used to help determine eligibility for release of liability and substitution of entitlement when a VA guaranteed loan is assumed. The collection is authorized under 38, U.S.C., section 3702. Use of VA form 26-6382 (Statement of Purchaser or Owner Assuming Seller's Loan) has increased in recent years due to below-market interest rates on assumable VA loans. As a result, the number of respondents increased from 1,000 to 5,000, resulting in an increase in the total burden hours.
Affected Public:
Individuals and households.
Estimated Annual Burden:
1,250 hours.
Estimated Average Burden per Respondent:
15 minutes.
Frequency of Response:
One time.
Estimated Number of Respondents:
5,000 per annually.
Authority:44 U.S.C. 3501
et seq.
Shunda Willis,
Alternate, VA PRA Clearance Officer, Office of Information Technology/Data Governance Analytics, Department of Veterans Affairs.