[Federal Register Volume 67, Number 245 (Friday, December 20, 2002)]
[Notices]
[Page 78042]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-32092]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0110]


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 in determining a release of liability and substitution of 
entitlement of veteran-sellers to the Government on GI or direct loans.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before February 18, 2003.

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 mailto:[email protected]. Please refer to ``OMB Control No. 
2900-0110'' 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: Application for Assumption Approval and/or Release from 
Personal Liability to the Government on a Home Loan, VA Form 26-6381.
    OMB Control Number: 2900-0110.
    Type of Review: Extension of a currently approved collection.
    Abstract: Title 38, U.S.C., Section 3713(a) provides that when a 
veteran disposes of his or her interest in the property securing the 
loan, VA may, upon request, release the original veteran-borrower from 
personal liability to the Government only if three requirements are 
fulfilled. First, the loan must be current. Second, the purchaser must 
assume all of the veteran's liability to the Government and the 
mortgage holder on the guaranteed loan. Third, the purchaser must 
qualify from a credit and income standpoint, to the same extent as if 
he or she were a veteran applying for a VA-guaranteed loan in the same 
amount as the loan being assumed. Veterans who are selling their homes 
by assumption rather than requiring purchasers to obtain their own 
financing to pay off the loan must complete this form. The information 
furnished is essential to determinations for assumption approval, 
release of liability, and substitution of entitlement.
    Affected Public: Individuals or households, business or other for 
profit.
    Estimated Annual Burden: 596 hours.
    Estimated Average Burden Per Respondent: 10 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 3,575.

    Dated: December 10, 2002.
    By direction of the Secretary.
Ernesto Castro,
Director, Records Management Service.
[FR Doc. 02-32092 Filed 12-19-02; 8:45 am]
BILLING CODE 8320-01-P