[Federal Register Volume 66, Number 44 (Tuesday, March 6, 2001)]
[Notices]
[Pages 13632-13633]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-5298]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0021]


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 April 5, 2001.

FOR FURTHER INFORMATION OR A COPY OF THE SUBMISSION CONTACT: Denise 
McLamb, Information Management Service (045A4), Department of Veterans 
Affairs, 810 Vermont Avenue, NW., Washington, DC 20420, (202) 273-8030 
or FAX (202) 273-5981 or e-mail to: [email protected]. Please 
refer to ``OMB Control No. 2900-0021.''

SUPPLEMENTARY INFORMATION:
    Titles:
    a. Notice of Default, VA Form 26-6850.
    b. Notice of Default and Intention to Foreclose, VA Form 26-6850a.
    c. Notice of Intention to Foreclose, VA Form 26-6851.
    OMB Control Number: 2900-0021.
    Type of Review: Reinstatement, without change, of a previously 
approved collection for which approval has expired.
    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

[[Page 13633]]

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 required to file VA Form 26-
6850a, which will provide both notices of default and intent to 
foreclose together on one form. VA Form 26-6850a requires that 
servicing efforts be fully explained so that VA can determine whether 
supplement 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 actions 
of VA and the holder to ensure that all legal requirements regarding 
foreclosure and claim payment are met.
    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 October 17, 2000, at pages 61379 and 
61380.
    Affected Public: Individuals or households and 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.
    a. VA Form 26-6850--121,000 respondents.
    b. VA Form 26-6850a--78,000 respondents.
    c. VA Form 26-6851--80,000 respondents.
    Send comments and recommendations concerning any aspect of the 
information collection to VA's OMB Desk Officer, OMB Human Resources 
and Housing Branch, New Executive Office Building, Room 10235, 
Washington, DC 20503 (202) 395-7316. Please refer to ``OMB Control No. 
2900-0021'' in any correspondence.

    Dated: February 8, 2001.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 01-5298 Filed 3-5-01; 8:45 am]
BILLING CODE 8320-01-P