95-28009. Proposed Information Collection Activity; Public Comment Request: Request for Postponement of Offsite or Exterior Onsite Improvements Home Loan, VA Form 26-1847

[Federal Register Volume 60, Number 219 (Tuesday, November 14, 1995)]
[Notices]
[Pages 57268-57269]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28009]



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DEPARTMENT OF VETERANS AFFAIRS

Proposed Information Collection Activity; Public Comment Request: 
Request for Postponement of Offsite or Exterior Onsite Improvements--
Home Loan, VA Form 26-1847

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: As part of its continuing effort to reduce paperwork and 
respondent burden, Veterans Benefits Administration (VBA) invites the 
general public and other Federal agencies to comment on this 
information collection. This request for comment is being made pursuant 
to the Paperwork Reduction Act of 1995 (Public Law 104-13; 44 U.S.C. 
3506(c)(2)(A)). Comments should address the accuracy of the burden 
estimates and ways to minimize the burden including the use of 
automated collection techniques or the use of other forms of 
information technology, as well as other relevant aspects of the 
information collection.

DATES: Written comments and recommendations on the proposal for the 
collection of information should be received on or before January 16, 
1996.

ADDRESSES: Direct all written comments to Nancy J. Kessinger, Veterans 
Benefits Administration (20M30), Department of Veterans Affairs, 810 
Vermont Avenue, NW, Washington, DC 20420. All comments will become a 
matter of public record and will be summarized in the VBA request for 
Office of Management and Budget (OMB) approval. In this document VBA is 
soliciting comments concerning the following information collection:
    OMB Control Number: 2900-0040.
    Title and Form Number: Request for Postponement of Offsite or 
Exterior Onsite Improvements--Home Loan, VA Form 26-1847.
    Type of Review: Extension of a currently approved collection.
    Need and Uses: The form serves as the lender's and veteran's 
request for guaranty of home loan for which offsite or exterior onsite 
improvements are incomplete to permit the veteran's occupancy of the 
property. Without this information, it would not be possible for loans 
to be guaranteed in such cases with adequate protection for the veteran 
and VA, and for veterans to occupy affected properties.
    Current Actions: VA is directed by Title 38 U.S. Code with assuring 
that properties proposed for VA financing meet certain standards, are 
suitable as dwellings, and that proposed loans do not exceed the VA-
established reasonable value of the property. The reasonable value, in 
case of new construction, is based on the anticipated value of the 
dwelling and all improvements after completion. New homes often cannot 
be completed in every respect because of weather conditions or other 
circumstances. However, VA policies permit the closing of loans in such 
cases when the house itself is basically complete, but certain offsite 
or exterior onsite improvements are incomplete. For such cases, funds 
amounting to one and one-half times the cost of completion must be 
deposited with a third party, or other incentives to completion must be 
present which are acceptable to VA. Escrow funds may only be used to 
complete the remaining improvements. These procedures make it possible 
for loans to be guaranteed in such cases with adequate protection for 
the veteran and VA, and for veterans to occupy affected properties.
    Affected Public: Individuals or households and Business or other 
for-profit.
    Estimated Annual Burden: 2,500 hours.
    Estimated Average Burden Per Respondent: 30 minutes.
    Frequency of Response: Generally one-time.
    Estimated Number of Respondents: 5,000.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to 

[[Page 57269]]
Department of Veterans Affairs, Attn: Ron Taylor, VA Clearance Officer 
(045A4), Department of Veterans Affairs, 810 Vermont Avenue, NW, 
Washington, DC 20420, Telephone [phone] or FAX [phone].

    Dated: October 31, 1995.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 95-28009 Filed 11-13-95; 8:45 am]
BILLING CODE 8320-01-P