LOAN GUARANTY - MAINTENANCE OF LOAN RECORDS, ELIMINATION OF REFERENCE TO HUD MPS (MINIMUM PROPERTY STANDARDS - HUD HANDBOOK 4900.1) (38 CFR 36.4215 AND 36.4330)

Forms and Documents

Document Name	Status
2020-23477.pdf Supplementary Document	2020-10-28
SupportingStatement (2900-0515).rtf Supporting Statement A	2020-08-20
2020-18292.pdf Supplementary Document	2020-08-20

IC Document Collections

IC ID	Document Title	Status
148357	LOAN GUARANTY - MAINTENANCE OF LOAN RECORDS, ELIMINATION OF REFERENCE TO HUD MPS (MINIMUM PROPERTY STANDARDS - HUD HANDBOOK 4900.1) (38 CFR 36.4215 AND 36.4330) Other-Screen Shot	Modified

ICR Details

OMB Control No: 2900-0515	ICR Reference No: 202007-2900-003
Status: Received in OIRA	Previous ICR Reference No: 199112-2900-003
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-NK
Title: LOAN GUARANTY - MAINTENANCE OF LOAN RECORDS, ELIMINATION OF REFERENCE TO HUD MPS (MINIMUM PROPERTY STANDARDS - HUD HANDBOOK 4900.1) (38 CFR 36.4215 AND 36.4330)
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/28/2020

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	35,000	0
Time Burden (Hours)	17,500	0
Cost Burden (Dollars)	0	0

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Abstract: WHEN VA AUDITORS CONDUCT AUDITS AND EXAMINATIONS OF LENDER RECORDS, IT IS NECESSARY THAT THE RECORDS BE AVAILABLE. THIS NEW REGULATORY REQUIREMENT WILL ASSURE THAT LENDERS KEEP THEIR LOAN ORIGINATION RECORDS FOR AT LEAST ONE YEAR.

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Authorizing Statute(s): None

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:
	85 FR 18292	08/20/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 23477	10/23/2020
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
LOAN GUARANTY - MAINTENANCE OF LOAN RECORDS, ELIMINATION OF REFERENCE TO HUD MPS (MINIMUM PROPERTY STANDARDS - HUD HANDBOOK 4900.1) (38 CFR 36.4215 AND 36.4330)

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ICR Summary of Burden

	Total Request	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	35,000	0	0	29,000	0	6,000
Annual Time Burden (Hours)	17,500	0	0	17,499	0	1
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The figures presented reflect current loan volumes.

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Annual Cost to Federal Government: $2,449,300

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 10/28/2020

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