Application For Assumption Approval and/or Release From Personal Liability To The Government On a Home Loan

ICR 200901-2900-005

OMB: 2900-0110

Federal Form Document

Forms and Documents
ICR Details
2900-0110 200901-2900-005
Historical Active 200605-2900-001
VA 2900-0110
Application For Assumption Approval and/or Release From Personal Liability To The Government On a Home Loan
Extension without change of a currently approved collection   No
Regular
Approved without change 06/30/2009
Retrieve Notice of Action (NOA) 05/12/2009
  Inventory as of this Action Requested Previously Approved
06/30/2012 36 Months From Approved 07/31/2009
250 0 3,000
42 0 500
0 0 0

Application required by 38 U.S.C. 3713(a), 3714 and 3702(b)(2) for determinations necessary for release of liability and substitution of entitlement of veteran-sellers to the government on GI and direct loans. Information enables Loan Service Representatives to be able to process the veteran's request and make a final determination of approval or disapproval.

US Code: 38 USC 3714 Name of Law: Assumptions; Release From Liability
   US Code: 38 USC 3713 Name of Law: Release From Liability Under Guaranty
   US Code: 38 USC 3702 Name of Law: Basic Entitlement
  
None

Not associated with rulemaking

  74 FR 20 02/02/2009
74 FR 77 04/23/2009
No

  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 250 3,000 0 0 -2,750 0
Annual Time Burden (Hours) 42 500 0 0 -458 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The decrease in burden is an adjustment. The decrease represents a decrease in the number of release of liability and substitution of entitlement cases processed by VA Regional Loan Centers due to new regulations that authorize loan holders or servicers to process almost all ownership transfer requests.

$1,108
No
No
Uncollected
Uncollected
No
Uncollected
Denise McLamb 202-565-8374 denise.mclamb@mail.va.gov

  No

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.
05/12/2009


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