[Federal Register Volume 66, Number 208 (Friday, October 26, 2001)]
[Notices]
[Page 54341]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-26997]


-----------------------------------------------------------------------

DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0601]


Proposed Information Collection Activity: Proposed Collection; 
Comment Request

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

-----------------------------------------------------------------------

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 to 
determine the reasons for delinquency on the original loan no longer 
exits and that the veteran is a satisfactory credit risk.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before December 26, 2001.

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 or e-mail: [email protected]. Please refer to ``OMB Control No. 
2900-0601'' 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: Loan Guaranty: Requirements for Interest Rate Reduction 
Refinancing Loans.
    OMB Control Number: 2900-0601.
    Type of Review: Extension of a currently approved collection.
    Abstract: VA is authorized to guarantee loans to veterans to 
refinance existing mortgage loans previously guaranteed by VA provided 
the veteran still owns the property used as security for the loan. 
Lenders must collect certain information concerning the veteran and the 
veteran's credit history (and spouse or other co-borrow, as applicable) 
in order to properly underwrite delinquent Interest Rate Reduction 
Refinancing Loan (IRRRLs). Under these proposed requirements, VA 
proposes to require that the lender provide VA with the credit 
information to assure itself that IRRRLs to refinance delinquent loans 
are underwritten in reasonable and prudent manner.
    Affected Public: Business or other for profit.
    Estimated Annual Burden: 85 hours.
    Estimated Annual Burden Per Respondent: 30 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 170.

    Dated: October 11, 2001.

    By direction of the Secretary:
Barbara H. Epps,
Management Analyst, Information Management Service.
[FR Doc. 01-26997 Filed 10-25-01; 8:45 am]
BILLING CODE 8320-01-P