Interest Rate Reduction Refinancing Loan Worksheet

ICR 201203-2900-013

OMB: 2900-0386

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2012-07-05
IC Document Collections
IC ID
Document
Title
Status
28596 Modified
ICR Details
2900-0386 201203-2900-013
Historical Active 200811-2900-014
VA 2900-0386
Interest Rate Reduction Refinancing Loan Worksheet
Extension without change of a currently approved collection   No
Regular
Approved without change 08/31/2012
Retrieve Notice of Action (NOA) 07/05/2012
  Inventory as of this Action Requested Previously Approved
08/31/2015 36 Months From Approved 08/31/2012
140,000 0 30,000
23,333 0 5,000
0 0 0

Form is used by lenders for completing the funding fee and maximum permissible loan amounts for interest rate reduction refinancing loans to veterans (38 U.S.C. 3729(a), 3710(a)(8), or 3712(a)(1)(F)). Information is used by VA loan examiners to assure that the above requirements are met prior to issuing guaranty.

US Code: 38 USC 3729 Name of Law: Loan Fee
   US Code: 38 USC 3710 Name of Law: Purchase or Construction of Homes
   US Code: 38 USC 3712 Name of Law: Loans to Purchase Manufactured Homes or Lots
   US Code: 38 USC 3703 Name of Law: Basic Provisions Relating to Loan Guaranty and Insurance
  
None

Not associated with rulemaking

  77 FR 67 04/06/2012
77 FR 124 06/27/2012
No

1
IC Title Form No. Form Name
Interest Rate Reduction Refinancing Loan Worksheet 26-8923 Interest Rate Reduction Refinancing Loan Worksheet

  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 140,000 30,000 0 0 110,000 0
Annual Time Burden (Hours) 23,333 5,000 0 0 18,333 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The increase in burden hours is due to a dramatic increase in the number of Interest Rate Reduction Refinancing Loans. This is due to interest rates being historically low.

$331,100
No
No
No
No
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.
07/05/2012


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