[Federal Register Volume 59, Number 221 (Thursday, November 17, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-28345]


[[Page Unknown]]

[Federal Register: November 17, 1994]


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DEPARTMENT OF VETERANS AFFAIRS

 

Information Collection Under OMB Review: Loan Guaranty: Credit 
Underwriting Standards and Procedures for Processing VA Guaranteed 
Loans

AGENCY: Department of Veterans Affairs.

ACTION: Notice.

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    The Department of Veterans Affairs has submitted to OMB the 
following proposal for the collection of information under the 
provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35). This 
document lists the following information:
    (1) the title of the information collection, and the Department 
form number(s), if applicable;
    (2) a description of the need and its use;
    (3) who will be required or asked to respond;
    (4) an estimate of the total annual reporting hours, and 
recordkeeping burden, if applicable;
    (5) the estimated average burden hours per respondent;
    (6) the frequency of response; and
    (7) an estimated number of respondents.

ADDRESSES: Copies of the proposed information collection and supporting 
documents may be obtained from Janet G. Byers, Veterans Benefits 
Administration (20A5A), Department of Veterans Affairs, 810 Vermont 
Avenue, NW, Washington, DC 20420 (202) 273-7011.
    Comments and questions about the items on the list should be 
directed to VA's OMB Desk Officer, Joseph Lackey, NEOB, Room 3002, 
Washington, DC 20503, (202) 395-7316. Do not send requests for benefits 
to this address.

DATES: Comments on the information collection should be directed to the 
OMB Desk Officer on or before December 19, 1994.

    Dated: November 7, 1994.

    By direction of the Secretary:
Barbara H. Epps,
Management Analyst.

Reinstatement

1. Loan Guaranty: Credit Underwriting Standards and Procedures for 
Processing VA Guaranteed Loans
a. Information Concerning Veteran-Borrower's Rental income (if 
applicable)
b. Providing VA With Copy of Mortgage Credit Certificate (if 
applicable)
c. Documentation of all Known Debts and Obligations
d. Information Concerning Job-Related Expenses and Child-Care
e. Submission of Copies of Completed Income Tax Returns (if applicable)
2. Lenders must collect certain specific information concerning the 
veteran and the veteran's credit history in order to properly 
underwrite the veteran's loan. The information is needed to insure that 
applications for VA-guaranteed loans are underwritten in a reasonable 
and prudent manner.
3. Individuals or households--Businesses or other for-profit
4. 35,383 total hours. VA is requesting 1 hour annual burden for this 
collection of information since the requirements for the data are 
customary under mortgage lending practices and are not a requirement 
peculiar to VA.
5. 11 minutes
6. On occasion
7. 193,000 respondents

[FR Doc. 94-28345 Filed 11-16-94; 8:45 am]
BILLING CODE 8320-01-M