[Federal Register Volume 61, Number 251 (Monday, December 30, 1996)]
[Notices]
[Page 68819]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-33083]


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DEPARTMENT OF VETERANS AFFAIRS

Proposed Information Collection Activity; Public Comment Request

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 February 28, 
1997.

ADDRESSES: Direct all written comments to Nancy J. Kessinger, Veterans 
Benefits Administration (20S52), 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: 2900-0460.
    Title and Form Number: Application for Assumption Approval and/or 
Release From Personal Liability to the Government on a Home Loan, VA 
Form 26-6381.
    Type of Review: Extension of a currently approved collection.
    Need and Uses: The form is completed by veterans who are selling 
their homes by assumption rather than requiring purchasers to obtain 
their own financing to pay off the loan. The information furnished is 
essential to determinations for assumption approval, release of 
liability, and substitution of entitlement.
    Current Actions: Title 38, U.S.C., Section 3713(a) provides that 
when a veteran disposes of his or her interest in the property securing 
the loan, the VA may, upon request, release the original veteran-
borrower from personal liability to the Government only if three 
requirements are fulfilled. First, the loan must be current. Second, 
the purchaser must assume all of the veteran's liability to the 
Government and the mortgage holder on the guaranteed loan. Third, the 
purchaser must qualify from a credit and income standpoint, to the same 
extent as if he or she were a veteran applying for a VA-guaranteed loan 
in the same amount as the loan being assumed.
    Affected Public: Individuals or households and Business or other 
for-profit.
    Estimated Annual Burden: 790 hours.
    Estimated Average Burden Per Respondent: 10 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 4,740.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Department of Veterans 
Affairs, Attn: Nancy J. Kessinger, Veterans Benefits Administration 
(20S52), Department of Veterans Affairs, 810 Vermont Avenue, NW, 
Washington, DC 20420, Telephone (202) 273-7079 or FAX (202) 275-4884.

    Dated: December 5, 1996.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 96-33083 Filed 12-27-96; 8:45 am]
BILLING CODE 8320-01-P