[Federal Register Volume 62, Number 136 (Wednesday, July 16, 1997)]
[Notices]
[Page 38195]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18634]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0110]


Agency Information Collection Activities Under OMB Review

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995 
(44 U.S.C., 3501 et seq.), this notice announces that the Veterans 
Benefits Administration (VBA), Department of Veterans Affairs, has 
submitted the collection of information abstracted below to the Office 
of Management and Budget (OMB) for review and comment. The PRA 
submission describes the nature of the information collection and its 
expected cost and burden; it includes the actual data collection 
instrument.

DATES: Comments must be submitted on or before August 15, 1997.

FOR FURTHER INFORMATION OR A COPY OF THE SUBMISSION CONTACT: Ron 
Taylor, Information Management Service (045A4), Department of Veterans 
Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, (202) 273-8015 
or FAX (202) 273-5981. Please refer to ``OMB Control No. 2900-0110'' in 
any correspondence.

SUPPLEMENTARY INFORMATION:

    Title: Application for Assumption Approval and/or Release from 
Personal Liability to the Government on a Home Loan, VA Form 26-6381.
    OMB Control Number: 2900-0110.
    Type of Review: Reinstatement, without change, of a previously 
approved collection for which approval has expired.
    Abstract: 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.
    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 was a veteran applying for a VA-guaranteed loan in the same 
amount as the loan being assumed.
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid OMB control number. The Federal Register Notice with a 
60-day comment period soliciting comments on this collection of 
information was published on December 30, 1996 at page 68819.
    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.
    Send comments and recommendations concerning any aspect of the 
information collection to VA's OMB Desk Officer, Allison Eydt, OMB 
Human Resources and Housing Branch, New Executive Office Building, Room 
10235, Washington, DC 20503, (202) 395-4650. Please refer to ``OMB 
Control No. 2900-0110'' in any correspondence.

    Dated: June 25, 1997.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 97-18634 Filed 7-15-97; 8:45 am]
BILLING CODE 8320-01-P