[Federal Register Volume 60, Number 228 (Tuesday, November 28, 1995)]
[Notices]
[Pages 58726-58727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28948]



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DEPARTMENT OF VETERANS AFFAIRS


Proposed Information Collection Activity; Public Comment Request: 
Loan Guaranty Funding Fee Transmittal, VA Forms 26-8986 and 26-8986-1

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: As part of its continuing effort to reduce paperwork and 
respondent burden, Veterans Benefits Administration (VBA) invites the 
general public and other Federal agencies to comment on this 
information collection. This request for comment is being made pursuant 
to the Paperwork Reduction Act of 1995 (Public Law 104-13; 44 U.S.C. 
3506(c)(2)(A)). Comments should address the accuracy of the burden 
estimates and ways to minimize the burden including the use of 
automated collection techniques or the use of other forms of 
information technology, as well as other relevant aspects of the 
information collection.

DATES: Written comments and recommendations on the proposal for the 
collection of information should be received on or before January 29, 
1996.

ADDRESSES: Direct all written comments to Nancy J. Kessinger, Veterans 
Benefits Administration (20M30), Department of Veterans Affairs, 810 
Vermont Avenue, NW, Washington, DC 20420. All comments will become a 
matter of public record and will be summarized in the VBA request for 
Office of Management and Budget (OMB) approval. In this document VBA is 
soliciting comments concerning the following information collection:
    OMB Control Number: 2900-0474.
    Title and Form Number: Loan Guaranty Funding Fee Transmittal, VA 
Forms 26-8986 and 26-8986-1.
    Type of Review: Extension of a currently approved collection.
    Need and Uses: Use of these forms will allow lending institutions 
to transmit funding fees required for VA-guaranteed home loans to a 
lockbox depository.
    Current Actions: A funding fee must be paid to VA before loans will 
be guaranteed. A fee is payable for both home and manufactured home 
loans and for assumptions of VA-guaranteed loans. The only exceptions 
are loans made to veterans receiving VA compensation for service-
connected disabilities, or who, but for receipt of retirement pay, 
would be entitled to receive compensation, and loans made to surviving 
spouses of veterans who died in service or from a service-connected 
disability regardless of whether the spouse has his or her own 
eligibility, provided the spouse's eligibility was not used to obtain 
the VA-guaranteed loan. This fee is required by 38 U.S.C. 3729, 38 CFR 
36.4232 and 36.4312. There is a schedule of funding fees to be applied 
to VA home loans. The amount of the fee will be dependent 

[[Page 58727]]
upon whether the veteran's eligibility is based upon active or 
reservist duty and upon the amount of down-payment, if any, paid by a 
veteran.
    Affected Public: Individuals or households and Business or other 
for-profit.
    Estimated Annual Burden: 58,333 hours.
    Estimated Average Burden Per Respondent: 30 minutes.
    Frequency of Response: Generally one-time.
    Estimated Number of Respondents: 350,000.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Department of Veterans 
Affairs, Attn: Ron Taylor, VA Clearance Officer (045A4), Department of 
Veterans Affairs, 810 Vermont Avenue, NW., Washington, DC 20420, 
Telephone (202) 565-4412 or FAX (202) 565-8267.

    Dated: November 9, 1995.

    By direction of the Secretary:
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 95-28948 Filed 11-27-95; 8:45 am]
BILLING CODE 8320-01-P