95-28947. Proposed Information Collection Activity; Public Comment Request: Escrow Agreement for Postponed Exterior Onsite Improvements, VA Form 26-1849

[Federal Register Volume 60, Number 228 (Tuesday, November 28, 1995)]
[Notices]
[Page 58727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28947]



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DEPARTMENT OF VETERANS AFFAIRS

Proposed Information Collection Activity; Public Comment Request: 
Escrow Agreement for Postponed Exterior Onsite Improvements, VA Form 
26-1849

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 (Pub. L. 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 29, 
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: 2900-0320.
    Title and Form Number: Escrow Agreement for Postponed Exterior 
Onsite Improvements, VA Form 26-1849.
    Type of Review: Extension of a currently approved collection.
    Need and Uses: The form is a legal agreement between builder/
seller, lender, and escrow agent covering escrow of funds for 
unfinished exterior onsite improvements of newly constructed housing 
proposed for VA guaranteed financing.
    Current Actions: Title 38, U.S. Code, Section 501(a) authorizes the 
Secretary to make necessary rules and regulations appropriate to carry 
out the laws administered by VA. Accordingly, escrow procedures were 
originally developed so that the Loan Guaranty Program could carry 
practices similar to those of the private mortgage lending industry. 
The escrow procedures and VA Form 26-1849 were developed for the 
benefit of the veteran who may gain occupancy of the property when 
specified exterior onsite improvements must be postponed because of 
delays.
    Affected Public: Individuals or households and Business or other 
for-profit.
    Estimated Annual Burden: Because escrow agreements, such as VA Form 
26-1849, are common practices in the building and lending industry, 
only 1 hour is being requested.
    Estimated Average Burden Per Respondent: 30 minutes.
    Frequency of Response: Generally one-time.
    Estimated Number of Respondents: 32,000.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to 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: November 9, 1995.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 95-28947 Filed 11-27-95; 8:45 am]
BILLING CODE 8320-01-P