[Federal Register Volume 68, Number 20 (Thursday, January 30, 2003)]
[Notices]
[Pages 4814-4815]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-2126]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0112]


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 whether a veteran can be released from 
liability on a Government home loan.

DATES: Written comments and recommendations on the proposed

[[Page 4815]]

collection of information should be received on or before March 31, 
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. 
2900-0112'' 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: Statement of Holder or Servicer of Veteran's Loan, VA Form 
26-559.
    OMB Control Number: 2900-0112.
    Type of Review: Extension of a currently approved collection.
    Abstract: Veteran-borrowers may sell their homes subject to the 
existing VA-guaranteed mortgage lien without prior approval of VA if 
the commitment for the loan was made prior to March 1, 1988. However, 
if they request release from personal liability to the Government in 
the event of a subsequent default by a transferee, VA must determine 
that (1) loan payments are current; (2) the transferee will assume the 
veteran's legal liabilities in connection with the loan; and (3) the 
purchaser qualifies from a credit standpoint. A veteran-borrower may 
sell his or her home to a veteran-transferee. However, eligible 
transferees must meet all the requirements in addition to having 
sufficient available loan guaranty entitlement to replace the amount of 
entitlement used by the seller in obtaining the original loan.
    Affected Public: Individuals or households, Business or other for 
profit.
    Estimated Annual Burden: 1,167 hours.
    Estimated Average Burden Per Respondent: 10 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 7,000.

    Dated: January 16, 2003.

    By direction of the Secretary.
Ernesto Castro,
Director, Records Management Service.
[FR Doc. 03-2126 Filed 1-29-03; 8:45 am]
BILLING CODE 8320-01-P