99-25127. Agency Information Collection Activities Under OMB Review

[Federal Register Volume 64, Number 187 (Tuesday, September 28, 1999)]
[Notices]
[Pages 52372-52373]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-25127]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0029]


Agency Information Collection Activities Under OMB Review

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995 
(44 U.S.C., 3501 et seq.), this notice announces that the Veterans 
Benefits Administration (VBA), Department of Veterans Affairs, has 
submitted the collection of information abstracted below to the Office 
of Management and Budget (OMB) for review and comment. The PRA 
submission describes the nature of the information collection and its 
expected cost and burden; it includes the actual data collection 
instrument.

DATES: Comments must be submitted on or before October 28, 1999.

FOR FURTHER INFORMATION OR A COPY OF THE SUBMISSION CONTACT: Denise 
McLamb, Information Management Service (045A4), Department of Veterans 
Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, [phone] 
or FAX [phone]. Please refer to ``OMB Control No. 2900-0029.''

SUPPLEMENTARY INFORMATION:
    Titles and Form Numbers:
    a. Offer to Purchase and Contract of Sale, VA Form 26-6705.
    b. Credit Statement of Prospective Purchaser, VA Form 26-6705b.
    c. Addendum to VA Form 26-6705 (Virginia), VA Form 26-6705d
    OMB Control Number: 2900-0029.
    Type of Review: Revision of a currently approved collection.
    Abstract:
    a. VA Form 26-6705 is used by the private sector sales broker to 
submit an offer to the VA on behalf of a prospective purchaser of a VA-
acquired property. The form will be prepared for each proposed contract 
submitted to the

[[Page 52373]]

VA. If the VA accepts the offer to purchase, it then becomes a contract 
of sale. The form defines the terms of sale, provides the prospective 
purchaser with a receipt for his/her earnest money deposit, eliminates 
the need for separate transmittal of a purchase offer and develops the 
contract without such intermediate processing steps and furnishes 
evidence of the station decision with respect to the acceptance of the 
contract as tendered. Without this information, a determination of the 
best offer for a property cannot be made.
    b. VA Form 26-6705b is used as a credit application to determine 
the creditworthiness of a prospective purchaser in those instances when 
the prospective purchaser seeks VA vendee financing, along with VA Form 
26-6705. In such sales, the offer to purchase will not be accepted 
until the purchaser's income and credit history have been verified and 
a loan analysis has been completed, indicating loan approval. Without 
this information, the creditworthiness of a prospective purchaser 
cannot be determined and the offer to purchase cannot be accepted.
    c. VA Form 26-6705d is an addendum to VA Form 26-6705 for use in 
Virginia. It includes requirements of State law, which must be 
acknowledged by the purchaser at or prior to closing.
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid OMB control number. The Federal Register Notice with a 
60-day comment period soliciting comments on this collection of 
information was published on June 22, 1999, at page 33342.
    Affected Public: Individuals or households.
    Estimated Annual Burden: 57,917 hours.
    a. VA Form 26-7605--35,000 hours.
    b. VA Form 26-6705b--22,500 hours.
    c. VA Form 26-6705d--417 hours.
    Estimated Average Burden Per Respondent: 20 minutes (average).
    a. VA Form 26-7605--21 minutes.
    b. VA Form 26-6705b--20 minutes.
    c. VA Form 26-6705d--5 minutes.
    Frequency of Response: Generally one-time.
    Estimated Number of Total Respondents: 172,500.
    a. VA Form 26-7605--100,000.
    b. VA Form 26-6705b--67,500.
    c. VA Form 26-6705d--5,000.
    Send comments and recommendations concerning any aspect of the 
information collection to VA's OMB Desk Officer, Allison Eydt, OMB 
Human Resources and Housing Branch, New Executive Office Building, Room 
10235, Washington, DC 20503 [phone]. Please refer to ``OMB 
Control No. 2900-0029'' in any correspondence.

    Dated: September 1, 1999.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 99-25127 Filed 9-27-99; 8:45 am]
BILLING CODE 8320-01-P