[Federal Register Volume 67, Number 157 (Wednesday, August 14, 2002)]
[Notices]
[Pages 53045-53046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-20575]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0381]


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 the holder's election to convey and 
transfer foreclosed property to VA.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before October 15, 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. 
2900-0381'' 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 (Pub. L. 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: Notice for Election to Convey and/or Invoice for Transfer of 
Property, VA Form 26-8903.
    OMB Control Number: 2900-0381.
    Type of Review: Extension of a currently approved collection.
    Abstract: VA Form 26-8903 serves four purposes: holder's election 
to convey, invoice for the purchase price of the property, VA's voucher 
for authorizing payment to the holder, and establishment of VA's 
property records. When VA specifies an amount in relation to the 
foreclosure of a GI home loan and the holder elects to convey the 
property to VA, Section 3732 of Title 38, U.S.C., and 38 CFR 
36.4320(a)(1), provide that if a minimum amount for credit to the 
borrower's indebtedness has been specified by VA in relation to the 
sale of the real property and the holder is the successful bidder at 
the sale for no more than the amount

[[Page 53046]]

specified by VA, the holder will credit the indebtedness with that 
amount. The holder may then retain the property, or not later than 15 
days after the date of sale, advise VA of its election to convey and 
transfer the property to the VA. VA needs to know the amount bid at the 
sale, the type of deed to be used for transferring title from the 
holder to VA, occupancy information, and the hazard insurance coverage.
    Affected Public: Business or other for-profit.
    Estimated Annual Burden: 4,167 hours.
    Estimated Average Burden Per Respondent: 10 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 25,000.

    Dated: July 31, 2002.

    By direction of the Secretary:
Ernesto Castro,
Director, Records Management Service.
[FR Doc. 02-20575 Filed 8-13-02; 8:45 am]
BILLING CODE 8320-01-P