[Federal Register Volume 68, Number 87 (Tuesday, May 6, 2003)]
[Notices]
[Page 24047]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-11203]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0112]


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 June 5, 2003.

FOR FURTHER INFORMATION CONTACT: Denise McLamb, Records Management 
Service (005E3), Department of Veterans Affairs, 810 Vermont Avenue, 
NW., or e-mail [email protected]. Please refer to ``OMB Control 
No. 2900-0112.'' Send comments and recommendations concerning any 
aspect of the information collection to VA's OMB 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. 2900-0112'' in any correspondence.

SUPPLEMENTARY INFORMATION:
    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 for 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.
    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 January 30, 2003 at pages 4814-4815.
    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 Total Respondents: 7,000.

    Dated: April 21, 2003.

    By direction of the Secretary.
Loise Russell,
Acting Director, Records Management Service.
[FR Doc. 03-11203 Filed 5-5-03; 8:45 am]
BILLING CODE 8320-01-P