[Federal Register Volume 63, Number 110 (Tuesday, June 9, 1998)]
[Notices]
[Pages 31582-31583]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-15232]
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DEPARTMENT OF VETERANS AFFAIRS
[OMB Control No. 2900-0029]
Proposed Information Collection Activity: Proposed Collection;
Comment Request
AGENCY: Veterans Benefits Administration, Department of Veterans
Affairs.
ACTION: Notice.
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SUMMARY: The Veterans Benefits Administration (VBA), Department of
Veterans Affairs, is announcing an opportunity for public comment on
the proposed collection of certain information by the agency. Under the
Paperwork Reduction Act (PRA) of 1995, Federal agencies are required to
publish notice in the Federal Register concerning each proposed
collection of information, including each proposed revision of a
currently approved collection, and allow 60 days for public comment in
response to the notice. This
[[Page 31583]]
notice solicits comments on the information needed from a private
sector sales broker to submit an offer to VA on behalf of a prospective
purchaser of a VA-acquired property.
DATES: Written comments and recommendations on the proposed collection
of information should be received on or before August 10, 1998.
ADDRESSES: Submit written comments on the collection of information to
Nancy J. Kessinger, Veterans Benefits Administration (20S52),
Department of Veterans Affairs, 810 Vermont Avenue, NW, Washington, DC
20420. Please refer to ``OMB Control No. 2900-0029'' in any
correspondence.
FOR FURTHER INFORMATION CONTACT:
Nancy J. Kessinger at (202) 273-5079 or FAX (202) 275-5146.
SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Pub. L. 104-13; 44
U.S.C., 3501-3520), Federal agencies must obtain approval from the
Office of Management and Budget (OMB) for each collection of
information they conduct or sponsor. This request for comment is being
made pursuant to Section 3506(c)(2)(A) of the PRA.
With respect to the following collection of information, VBA
invites comments on: (1) whether the proposed collection of information
is necessary for the proper performance of VBA's functions, including
whether the information will have practical utility; (2) the accuracy
of VBA's estimate of the burden of the proposed collection of
information; (3) ways to enhance the quality, utility, and clarity of
the information to be collected; and (4) ways to minimize the burden of
the collection of information on respondents, including through the use
of automated collection techniques or the use of other forms of
information technology.
Titles and Form Numbers
a. Offer to Purchase and Contract of Sale, VA For 26-6705.
b. Credit Statement of Prospective Purchaser, VA Form 26-6705b
c. Addendum to VA Form 26-6705 (Virginia), VA Form 26-6705d.
OMB Control Number: 2900-0029.
Type of Review: Revision of a currently approved collection.
Abstract:
a. VA Form 26-6705 is used by the private sector sales broker to
submit an offer to the VA on behalf of a prospective purchaser of a VA-
acquired property. The form will be prepared for each proposed contract
submitted to the VA. If the VA accepts the offer to purchase, it then
becomes a contract of sale. The form defines the terms of sale,
provides the prospective purchaser with a receipt for his/her earnest
money deposit, eliminates the need for separate transmittal of a
purchase offer and develops the contract without such intermediate
processing steps and furnishes evidence of the station decision with
respect to the acceptance of the contract as tendered. Without this
information, a determination of the best offer for a property cannot be
made.
b. VA Form 26-6705b is used as a credit application to determine
the creditworthiness of a prospective purchaser in those instances when
the prospective purchaser seeks VA vendee financing, along with VA Form
26-6705. In such sales, the offer to purchase will not be accepted
until the purchaser's income and credit history have been verified and
a loan analysis has been completed, indicating loan approval. Without
this information, the creditworthiness of a prospective purchaser
cannot be determined and the offer to purchase cannot be accepted.
c. VA Form 26-6705d is an addendum to VA Form 26-6705 for use in
Virginia. It includes requirements of State law which must be
acknowledged by the purchaser at or prior to closing.
Affected Public: Individuals or households.
Estimated Annual Burden: 57,917 hours.
a. VA Form 26-7605--35,000 hours.
b. VA Form 26-6705b--22,500 hours.
c. VA Form 26-6705d--417 hours.
Estimated Average Burden Per Respondent: 20 minutes (average).
a. VA Form 26-7605--20 minutes.
b. VA Form 26-6705b--20 minutes.
c. VA Form 26-6705d--5 minutes.
Frequency of Response: Generally one-time.
Estimated Number of Total Respondents: 172,500.
a. VA Form 26-7605--100,000.
b. VA Form 26-6705b--67,500.
c. VA Form 26-6705d--5,000.
Dated: March 31, 1998.
By direction of the Secretary:
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 98-15232 Filed 6-8-98; 8:45 am]
BILLING CODE 8320-01-M