[Federal Register Volume 60, Number 228 (Tuesday, November 28, 1995)]
[Notices]
[Pages 58726-58727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28948]
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DEPARTMENT OF VETERANS AFFAIRS
Proposed Information Collection Activity; Public Comment Request:
Loan Guaranty Funding Fee Transmittal, VA Forms 26-8986 and 26-8986-1
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 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: 2900-0474.
Title and Form Number: Loan Guaranty Funding Fee Transmittal, VA
Forms 26-8986 and 26-8986-1.
Type of Review: Extension of a currently approved collection.
Need and Uses: Use of these forms will allow lending institutions
to transmit funding fees required for VA-guaranteed home loans to a
lockbox depository.
Current Actions: A funding fee must be paid to VA before loans will
be guaranteed. A fee is payable for both home and manufactured home
loans and for assumptions of VA-guaranteed loans. The only exceptions
are loans made to veterans receiving VA compensation for service-
connected disabilities, or who, but for receipt of retirement pay,
would be entitled to receive compensation, and loans made to surviving
spouses of veterans who died in service or from a service-connected
disability regardless of whether the spouse has his or her own
eligibility, provided the spouse's eligibility was not used to obtain
the VA-guaranteed loan. This fee is required by 38 U.S.C. 3729, 38 CFR
36.4232 and 36.4312. There is a schedule of funding fees to be applied
to VA home loans. The amount of the fee will be dependent
[[Page 58727]]
upon whether the veteran's eligibility is based upon active or
reservist duty and upon the amount of down-payment, if any, paid by a
veteran.
Affected Public: Individuals or households and Business or other
for-profit.
Estimated Annual Burden: 58,333 hours.
Estimated Average Burden Per Respondent: 30 minutes.
Frequency of Response: Generally one-time.
Estimated Number of Respondents: 350,000.
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 (202) 565-4412 or FAX (202) 565-8267.
Dated: November 9, 1995.
By direction of the Secretary:
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 95-28948 Filed 11-27-95; 8:45 am]
BILLING CODE 8320-01-P
