[Federal Register Volume 65, Number 170 (Thursday, August 31, 2000)]
[Notices]
[Pages 53092-53093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-22279]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0521]


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 reinstatement, 
without change, of a previously 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 
underwrite VA-guaranteed loans.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before October 30, 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. 2900-0521'' 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: Credit Underwriting Standards and Procedures for Processing 
VA Guaranteed Loans.
    OMB Control Number: 2900-0521.
    Type of Review: Reinstatement, without change, of a previously 
approved collection for which approval has expired.
    Abstract: VA set forth, in regulatory form, standards to be used by 
lenders in underwriting VA-guaranteed loans and to obtain credit 
information. Lenders must collect certain specific information 
concerning the veteran and the veteran's credit history (and spouse or 
other co-borrower, as applicable), in order to properly underwrite the 
veteran's loan. A loan may not be guaranteed unless the veteran is a 
satisfactory credit risk. VA requires the lender to provide the 
Department with the credit information to assure itself that 
applications for VA-

[[Page 53093]]

guaranteed loans are underwritten in a reasonable and prudent manner.
    Affected Public: Business or other for profit, and Individuals or 
households.
    Estimated Annual Burden: 1 hour.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 200,000.


    Dated: August 23, 2000.
By direction of the Acting Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 00-22279 Filed 8-30-00; 8:45 am]
BILLING CODE 8320-01-P