[Federal Register Volume 66, Number 244 (Wednesday, December 19, 2001)]
[Notices]
[Page 65531]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-31227]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0320]


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 allow veterans to gain occupancy of property when 
specified exterior onsite improvements must be postponed because of bad 
weather.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before February 19, 2002.

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. 
2900-0320'' 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: Escrow Agreement for Postponed Exterior Onsite Improvements, 
VA Form 26-1849.
    OMB Control Number: 2900-0320.
    Type of Review: Extension of a currently approved collection.
    Abstract: VA Form 26-1849 is provided as a service to veterans, 
builders/sellers, and escrow agents to be used in situations involving 
escrows. A VA loan amount cannot exceed the reasonable value of the 
property as determined by the Secretary of Veterans Affairs. The 
reasonable value is predicated on the completion of all improvements. 
In certain circumstances, such as adverse weather or other specified 
unavoidable conditions, the completion of some improvements may have to 
be postponed. For these situations, VA has developed escrow procedures 
whereby a builder/seller deposits at least one and one-half times the 
cost of completing the improvements into an escrow account held by a 
third party. The funds can only be used for the purpose of finishing 
the postponed improvements and are released when the improvements have 
been completed. These escrow procedures provide incentive to builder/
sellers to complete all postponed improvements and are standard 
practices in both the real estate and mortgage lending fields.
    Affected Public: Individuals or households and business or other 
for-profit.
    Estimated Annual Burden: 1 hour.
    Estimated Average Burden Per Respondent: 30 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 10,000.

    Dated: December 4, 2001.

    By direction of the Secretary.
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 01-31227 Filed 12-18-01; 8:45 am]
BILLING CODE 8320-01-P