[Federal Register Volume 67, Number 47 (Monday, March 11, 2002)]
[Notices]
[Pages 10966-10967]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-5786]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0601]


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 10, 2002.

ADDRESSES: Send comments and recommendations concerning any aspect of 
the information collection to VA's 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. 2900-0601'' in any correspondence.

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. Please refer to ``OMB Control No. 2900-0601.''

SUPPLEMENTARY INFORMATION:
    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-borrower, as

[[Page 10967]]

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.
    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 26, 2001, at page 54341.
    Affected Public: Business or other for profit.
    Estimated Annual Burden: 85 hours.
    Estimated Average Burden Per Respondent: 30 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 170.

    Dated: February 26, 2002.

    By direction of the Secretary.
Barbara H. Epps,
Management Analyst, Information Management Service.
[FR Doc. 02-5786 Filed 3-8-02; 8:45 am]
BILLING CODE 8320-01-P