VA is authorized to guarantee loans to
veterans to refinance existing mortgage loans previously guaranteed
by VA provided the veteran still owns the property used as security
for the loans. Under these proposed requirements, VA would require
that the lender provide VA with the credit information to assure
itself that interest rate reduction refinancing loans to refinance
delinquent loans are undertaken in a reasonable and prudent
manner.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.