[Federal Register Volume 65, Number 59 (Monday, March 27, 2000)]
[Notices]
[Page 16245]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-7360]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0112]


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 (VA), 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 
reinstatement, without change, of a currently approved collection for 
which approval has expired, and allow 60 days for public comment in 
response to the notice. This notice solicits comments for information 
needed to determine whether a veteran can be release from liability on 
a Government home loan.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before May 26, 2000.

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. 2900-0112'' in any 
correspondence.

FOR FURTHER INFORMATION CONTACT: Nancy J. Kessinger at (202) 273-7079 
or FAX (202) 275-5947.

SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Public Law 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.
    Title: Statement of Holder or Servicer of Veteran's Loan, VA Form 
26-559.
    OMB Control Number: 2900-0112.
    Type of Review: Reinstatement, without change, of a currently 
approved collection for which approval has expired.
    Abstract: Veteran-borrowers may sell their home subject to the 
existing VA-guaranteed mortgage lien without the prior approval of the 
VA if the commitment for the loan was made prior to March 1, 1988. 
However, if they request to be released from personal liability to the 
Government in the event of a subsequent default by a transferee, VA 
must determine, that (1) the loan payments are current; (2) the 
transferee will assume the veteran's legal liabilities in connection 
with the loan; and (3) the purchaser qualifies from a credit 
standpoint. Also, a veteran-borrower may sell their home to a veteran-
transferee. However, eligible transferees must meet all the 
requirements in addition to having sufficient available loan guaranty 
entitlement to replace the amount of entitlement used by the seller in 
obtaining the original loan.
    Affected Public: Individuals or households, Business or other for 
profit.
    Estimated Annual Burden: 1,167 hours.
    Estimated Average Burden Per Respondent: 10 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 7,000.

    Dated: March 3, 2000.
    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 00-7360 Filed 3-24-00; 8:45 am]
BILLING CODE 8320-01-P