[Federal Register Volume 63, Number 18 (Wednesday, January 28, 1998)]
[Notices]
[Pages 4215-4217]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-2054]
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DEPARTMENT OF AGRICULTURE
Farm Service Agency
Rural Housing Service
Rural Business-Cooperative Service
Notice of Request for Extension of Currently Approved Information
Collection
AGENCIES: Farm Service Agency, Rural Housing Service, and Rural
Business-Cooperative Service, USDA.
ACTION: Proposed Collection; comments request.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces the intent of the Farm Service Agency (FSA), Rural
Housing Service (RHS), and the Rural Business-Cooperative Service (RBS)
to request an extension of currently approved information collections
for four regulations and a form used in support of the FSA Farm Loan
Program (FLP) (formerly Farmer Programs of the Farmers Home
Administration (FmHA)), two regulations used in support of the RHS
Multi-family Housing (MFH) and Community Facilities (CF) loan programs,
and one regulation used in support of the RBS Direct Business and
Industry loan program. These rules do not involve the loans of the
Commodity Credit Corporation (CCC) administered by FSA or the Single
Family Housing (SFH) loans of RHS. This renewal does not involve any
revisions to the program rules.
DATES: Comments on this notice must be received on or before March 30,
1998 to be assured consideration.
FOR FURTHER INFORMATION CONTACT: For additional information contact
Phillip Elder, Senior Loan Officer, USDA, Farm Service Agency, Farm
Loan Programs, Loan Servicing Division, 1400 Independence Avenue, SW.,
STOP 0523, Washington, DC 20013-0523; Telephone (202) 690-4012;
Electronic mail: pelder@wdc.fsa.usda.gov.
SUPPLEMENTARY INFORMATION:
Title: Form FmHA 1962-1, Agreement for the Use of Proceeds/Release
of Chattel Security.
OMB Control Number: 0560-0171.
Expiration Date of Approval: March 31, 1998.
Type of Request: Extension of Currently Approved Information
Collection.
Abstract: The collection of information on Form FmHA 1962-1 is
required by a consent decree executed in relation to Coleman V. Block,
663 F. Supp 1315 (D.N.D. 1987). The former Farmers Home Administration
(FmHA) agreed in the consent decree to approve a borrower's planned use
of proceeds from the disposition of their chattel security, record any
changes to planned use, and record the actual disposition of chattel
security for the year of operation. Also, this form is needed to
implement Section 335(f) of the Consolidated Farm and Rural Development
Act (Act) (7 U.S.C. 1985(f)), which requires release of normal income
security to pay essential household and farm operating expenses of the
borrower, until the Agency accelerates the loan. Form FmHA 1962-1
provides a uniform method for local Agency loan officers to approve
these actions.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 20 minutes per response.
Respondents: Individuals or households, businesses or other for
profit and farms.
Estimated Number of Respondents: 56,075.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 18,505 hours.
Title: 7 CFR 1806-A, Real Property Insurance.
OMB Control Number: 0575-0087.
Expiration Date: March 31, 1998.
Type of Request: Extension of Currently Approved Information
Collection.
Abstract: This regulation is currently shared by FSA and the MFH
programs of RHS. This regulation governs the servicing of property
insurance on buildings and land securing the interest of RHS or FSA in
connection with an FSA FLP Loan or RHS MFH loan. This regulation does
not apply to the CF and SFH programs of RHS. The information
collections pertain primarily to the verification of insurance on
property securing Agency loans. This information collection is
submitted by FSA or RHS borrowers to Agency offices. It is necessary to
protect the government from losses due to weather, natural disasters,
or fire and ensure that the Act's loan making requirements of hazard
insurance are met by loan applicants. See Secs. 303(c), 312(c), and
321(b) of the Act.
Estimate of Burden: Public reporting burden for this collection of
information
[[Page 4216]]
is estimated to average 29 minutes per response.
Respondents: Individuals or households, businesses or other for
profit and farms.
Estimated Number of Respondents: 20,391.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 9,944 hours.
Title: 7 CFR 1951-L, Servicing Cases Where Unauthorized Loan or
Other Assistance Was Received.
OMB Control Number: 0560-0160.
Expiration Date: March 31, 1998.
Type of Request: Extension of Currently Approved Information
Collection.
Abstract: FSA encounters cases where unauthorized assistance was
received by a borrower. This assistance may be a loan where the
recipient did not meet the eligibility requirements set forth in
statute or program regulations, or both, or where the borrower
qualified for loan assistance but a lower subsidized interest rate was
charged on the loan, resulting in the borrower's receipt of
unauthorized interest subsidy benefits. The unauthorized assistance may
also be in the form of loan servicing where a borrower received an
excessive write-down or write-off of their debt. The information
collected under this regulation is provided on a voluntary basis by the
borrower, although failure to cooperate to correct loan accounts may
result in liquidation of the loan. The information to be collected will
primarily be financial data such as amount of income, farm operating
expenses, depreciation, crop yields, etc.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 4 hours per response.
Respondents: Individuals or households, businesses or other for
profit and farms.
Estimated Number of Respondents: 105.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 420 hours.
Title: 7 CFR 1965-A, ``Servicing of Real Estate Security for Farmer
Program Loans and Certain Note-Only Cases.''
OMB Control Number: 0560-0158.
Expiration Date: March 31, 1998.
Type of Request: Extension of Currently Approved Information
Collection.
Abstract: This regulation promulgates provisions of sections 331
and 335 of the Act (7 U.S.C. Secs. 1981 and 1985). Section 331, of the
Act, in part, authorizes the Secretary of Agriculture to modify,
subordinate and release terms of security instruments, leases,
contracts, and agreements entered into by FSA. That section also
authorizes transfers of security property as the Secretary deems
necessary to carry out the purpose of the loan or protect the
Government's financial interest. Section 335 of the Act provides
servicing authority for real estate security; operation or lease of
realty, disposition of property; conveyance of real property interest
of the United States; easements; and condemnations. The information
collection required by this subpart relates to a program benefit
recipient or loan borrower requesting action on security which they
own, which was purchased with FSA loan funds, improved with FSA loan
funds or has otherwise been mortgaged to the Agency to secure a
government loan. The information to be collected will primarily be
financial data not already on file, such as borrower asset values.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .42 hours per response.
Respondents: Individuals or households, businesses or other for
profit and farms.
Estimated Number of Respondents: 15,263.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 6,465 hours.
Title: 7 CFR part 1951, subpart F--Analyzing Credit Needs and
Graduation of Borrowers.
OMB Control Number: 0575-0093.
Expiration Date: March 31, 1998.
Type of Request: Extension of Currently Approved Information
Collection.
Abstract: This regulation is currently shared by FSA, RHS, and RBS.
Section 333 of the Act and Sec. 502 of the Housing Act of 1949, as
amended, require the Agencies to graduate their direct loan borrowers
to other credit when they are able to do so. Graduation is an integral
part of Agency lending, as Government loans are not meant to be
extended beyond a borrower's need for subsidized rates or non-market
terms. The notes, security instruments, or loan agreements of most
borrowers require borrowers to refinance their Agency loans when other
credit becomes available at reasonable rates and terms. If a borrower
finds other credit is not available at reasonable rates and terms, the
Agency will continue to review the borrower for possible graduation at
periodic intervals. Also, Sec. 333A(f) of the Act (7 U.S.C. 1983a(f))
requires the Agency to provide a financial prospectus to lenders who
may be interested in providing guaranteed and non-guaranteed credit to
the FSA's direct farm loan borrowers. The information to be collected
to carry out these mandates will primarily be financial data such as
amount of income, farm operating expenses, asset values, and
liabilities.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 2.85 hours per response.
Respondents: Individuals or households, businesses or other for
profit and farms.
Estimated Number of Respondents: 69,781.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 199,020.
Title: 7 CFR part 1941, Subpart A--Operating Loan Policies,
Procedures and Authorizations.
OMB Control Number: 0560-0162.
Expiration Date: March 31, 1998.
Type of Request: Extension of Currently Approved Information
Collection.
Abstract: Section 311 of the Act (7 U.S.C. 1941) requires that an
applicant for an FSA farm operating loan be a citizen of the United
States, possess the legal capacity to incur the loan obligation, have
training and experience sufficient to assure reasonable prospects of
success in the proposed farm operation, be an operator of not larger
than a family farm, be unable to obtain sufficient credit elsewhere,
and not have received a direct operating loan in 6 or fewer years.
Section 373 of the Act also generally prohibits the Secretary from
making or guaranteeing a farm loan to a borrower who has received debt
forgiveness on such a loan. The Debt Collection Improvement Act (31
U.S.C. Sec. 3720B(a)) further generally precludes an agency from making
a loan to a borrower who to a person who is delinquent on any Federal
debt. Also, FSA loan approval officials must determine that adequate
security and repayment ability for the loan are available, and that
funds are used only for those purposes authorized by law. Reporting
requirements to ensure compliance with these eligibility requirements
are imposed on the public by regulations set out in 7 CFR part 1941,
subpart A.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .21 hours per response.
Respondents: Individuals or households, businesses or other for
profit and farms.
[[Page 4217]]
Estimated Number of Respondents: 56,170.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 11,673 hours.
Comments
The Agencies are soliciting comments on the burden of all of the
above subparts regarding: (a) Whether the collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility; (b) the
accuracy of the agency's estimate of burden including the validity of
the methodology and assumptions used; (c) ways to enhance the quality,
utility and clarity of the information to be collected; (d) ways to
minimize the burden of the collection of information on those who are
to respond, including through the use of appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology. These comments should be sent to
Phillip Elder, Senior Loan Officer, USDA, FSA, Farm Loan Programs, Loan
Servicing Division, 1400 Independence Avenue, SW., STOP 0523,
Washington, DC 20250-0523.
Copies of the information collections may be obtained from Mr.
Elder at the above address. Comments regarding paperwork burden will be
summarized and included in the request for OMB approval of the
information collection. All comments will also become a matter of
public record.
Signed in Washington, DC, on January 20, 1998.
Bruce R. Weber,
Acting Administrator, Farm Service Agency.
Jan E. Shadburn,
Administrator, Rural Housing Service.
Dayton J. Watkins,
Administrator, Rural Business--Cooperative Service.
[FR Doc. 98-2054 Filed 1-27-98; 8:45 am]
BILLING CODE 3410-XV-U
