VA Request for Determination of Reasonable Value (VA Forms 26-1805 & 26-1805-1)

ICR 202107-2900-007

OMB: 2900-0045

Federal Form Document

ICR Details
2900-0045 202107-2900-007
Received in OIRA 202002-2900-009
VA VBA-LGY-NK
VA Request for Determination of Reasonable Value (VA Forms 26-1805 & 26-1805-1)
Revision of a currently approved collection   No
Regular 11/16/2021
  Requested Previously Approved
36 Months From Approved 10/31/2023
650,000 257,000
585,000 51,400
0 1,233,600

VA is required by 38 U.S.C. 3710(b)(5) to determine the reasonable value of properties proposed as security for guaranteed or direct home loans authorized by 38 U.S.C. 3710 or 3711, and to require minimum property standards pursuant to 38 U.S.C. 3704(a). The request provides information to permit assignment of appraisal and inspection of the property for these purposes.

US Code: 38 USC 3731(c) Name of Law: Appraisals
   US Code: 38 USC 3710(b) (4)(5)(6) Name of Law: Purchase or construction of homes
   US Code: 38 USC 3711 Name of Law: Direct loans to veterans
  
US Code: 38 USC 3731 (c)

Not associated with rulemaking

  86 FR 40679 07/28/2021
86 FR 21507 10/04/2021
No

  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 650,000 257,000 650,000 0 -257,000 0
Annual Time Burden (Hours) 585,000 51,400 585,000 0 -51,400 0
Annual Cost Burden (Dollars) 0 1,233,600 0 0 -1,233,600 0
No
No
VA LGY’s loan volume has increased substantially since the last time this ICR was completed, which is one driver for why the burden hour changes have increased. However, VA has also streamlined the initial appraisal ordering process (Form 26-1805), which has resulted in the reduction of several fields in the form. Due to the automation, the estimated time to complete the Form 26-1805 has been reduced from 12 minutes to 6 minutes for the Loan Interviewees and Clerks only.

$1,373,937
No
    Yes
    Yes
No
No
No
No
Maribel Aponte 202 266-4688 maribel.aponte@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.
11/16/2021


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