[Federal Register Volume 65, Number 201 (Tuesday, October 17, 2000)]
[Notices]
[Pages 61379-61380]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-26663]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0021]


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 extension 
of a currently approved collection, and allow 60 days for public 
comment in response to the notice. This notice solicits comments for 
information needed to determine whether supplemental servicing might 
justify the extension of forbearance to the veteran-borrower as opposed 
to foreclosure.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before December 18, 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. 2900-0021'' 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.
    Titles and Form Numbers: Notice of Default, VA Form 26-6850, Notice 
of Default and Intention to Foreclose, VA Form 26-6850a and Notice of 
Intention to Foreclose, VA Form 26-6851.
    OMB Control Number: 2900-0021.
    Type of Review: Extension of a currently approved collection.
    Abstract: Holders of guaranteed loans are required to notify VA 
within 45 days of a loan default by reason of nonpayment of any 
installment for a period of 60 days from the date of the first uncured 
default of their intention to foreclose. After delivery of such notice 
to VA, 30 days must pass before the holder can begin court proceedings 
or give notice of sale under power of sale or otherwise take steps to 
terminate the debtor's rights in the security. Many times, defaults are 
determined insoluble by holders at the time the notice of default is to 
be filed with VA. In such cases, the holders are requested to file VA 
Form 26-6850a, which will provide both notices of default and intent to 
foreclose together on one form. VA

[[Page 61380]]

Form 26-6850a requires that servicing efforts be fully explained so 
that VA can determine whether supplemental servicing could develop 
further information which might justify the extension of forbearance to 
the veteran-borrower as opposed to foreclosure. The information 
provided is used to coordinate the actions of VA and the holder to 
ensure that all legal requirements regarding foreclosure and claim 
payment are met.
    Affected Public: Individuals or households, Business or other for 
profit.
    Estimated Annual Burden: 66,166.
    a. VA Form 26-6850--20,166 hours.
    b. VA Form 26-6850a--26,000 hours.
    c. VA Form 26-6851--20,000 hours.
    Estimated Average Burden Per Respondent:
    a. VA Form 26-6850--10 minutes.
    b. VA Form 26-6850a--20 minutes.
    c. VA Form 26-6851--15 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 279,000 hours.
    a. VA Form 26-6850--121,000 hours.
    b. VA Form 26-6850a--78,000 hours.
    c. VA Form 26-6851--80,000 hours.

    Dated: September 22, 2000.

    By direction of the Acting Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 00-26663 Filed 10-16-00; 8:45 am]
BILLING CODE 8320-01-P