Statement of Purchaser or Owner Assuming Seller's Loan

Forms and Documents

Document Name	Status
Form 26-6382 Statement of Purchaser or Owner Assuming Seller's Loan Form	Modified
OMB26-6382.doc Supporting Statement A	2007-12-18

IC Document Collections

IC ID	Document Title	Status
28302	Statement of Purchaser or Owner Assuming Seller's Loan Form	Modified

ICR Details

OMB Control No: 2900-0111	ICR Reference No: 200707-2900-021
Status: Historical Active	Previous ICR Reference No: 200410-2900-007
Agency/Subagency: VA	Agency Tracking No: 2900-0111
Title: Statement of Purchaser or Owner Assuming Seller's Loan
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/24/2008
	Date Received in OIRA: 12/18/2007
Terms of Clearance: Approved consistent with the following terms of clearance: VA will continue to work toward the development of forms that utilize electronic signatures.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2011	36 Months From Approved	01/31/2008
Responses	1,500	0	7,500
Time Burden (Hours)	375	0	1,875
Cost Burden (Dollars)	0	0	0

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Abstract: Application required by 38 U.S.C. 3713(a) and 3702(b)(2) for determinations necessary for release of liability and substitution of entitlement of veteran-sellers to the government on guaranteed, insured and direct loans. Information collected permits VA review for compliance with requirements of 38 U.S.C. 3713(a)(1) & (2) on status of loan, purchaser's assumption of full liability under the loan instruments and credit worthiness as well as credit underwriting.

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Authorizing Statute(s): US Code: 38 USC 3702 Name of Law: Basic entitlement
   US Code: 38 USC 3710 Name of Law: Purchase or construction of homes
   US Code: 38 USC 3713 Name of Law: Release from liability under guaranty
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 152	08/08/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 199	10/16/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Statement of Purchaser or Owner Assuming Seller's Loan	26-6382	Statement of Purchaser or Owner Assuming Seller's Loan

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,500	7,500	0	0	-6,000	0
Annual Time Burden (Hours)	375	1,875	0	0	-1,500	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Loan Guaranty Service is developing an initiative to modernize its supplemental servicing and claims payment functions. As a byproduct of the delegated authority and electronic reporting directed by this initiative, the paperwork burden will be dramatically reduced for servicers who serve the 2.1 million VA-guaranteed home loans. This initiative will change the reporting of delinquent loans and submission of claims from a paper-based system to a completely electronic system, allow servicers to take many actions that previously would have required filling out OMB-approved forms for VA approval, and eliminate reporting to VA of certain events.

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Annual Cost to Federal Government: $12,462

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 12/18/2007

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