[Federal Register Volume 69, Number 87 (Wednesday, May 5, 2004)]
[Notices]
[Page 25173]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10135]



[[Page 25173]]

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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0021]


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. 3501-21), 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 and includes the actual data collection instrument.

DATES: Comments must be submitted on or before June 4, 2004.

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. 2900-0021.'' 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. 2900-0021'' in any correspondence.

SUPPLEMENTARY INFORMATION:
    Titles:
    a. Notice of Default, VA Form 26-6850.
    b. Notice of Default and Intention to Foreclose, VA Form 26-6850a.
    c. Notice of Intention to Foreclose, VA Form 26-6851.
    OMB Control Number: 2900-0021.
    Type of Review: Extension of a currently approved collection.
    Abstract: Holders of guaranteed loans are required to notify VA 
within 45 days of a loan default due to nonpayment of any installment 
for a period of 60 days from the date of the first uncured default. 
Holders are also required to notify VA of their intention to foreclose. 
After delivery of such notice to VA and 30 days has passed, the holder 
can begin court proceedings, give notice of sale under power of sale, 
or otherwise take steps to terminate the debtor's rights in the 
security. VA Forms 26-6850 and 26-6851 require that servicing efforts 
are fully explained so that VA can determine whether supplemental 
servicing could develop further information to justify the extension of 
forbearance to the veterans-borrower as opposed to foreclosure. The 
information provided is used to coordinate the actions of VA and the 
holder to ensure that all legal requirements regarding foreclosure and 
claim payment are met. VA Form 26-6850a is filed by holders when 
defaults are determined insoluble by holders at the time the notice of 
default is filed with VA. This form provides both notice of default and 
intent to foreclosure together on one form.
    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 December 15, 2003, at pages 69774-69775.
    Affected Public: Business or other for-profit; Individuals or 
households.
    Estimated Annual Burden: 66,166
    a. VA Form 26-6850--20,166 hours.
    b. VA Form 26-6850a--26,000 hours.
    c. VA Form 26-6851--20,000 hours.
    Estimated Average Burden Per Respondent:
    a. VA Form 26-6850--10 minutes.
    b. VA Form 26-6850a--20 minutes.
    c. VA Form 26-6851--15 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 279,000 hours.
    a. VA Form 26-6850--121,000 hours.
    b. VA Form 26-6850a--78,000 hours.
    c. VA Form 26-6851--80,000 hours.

    Dated: April 20, 2004.

    By direction of the Secretary.
Loise Russell,
Director, Records Management Service.
[FR Doc. 04-10135 Filed 5-4-04; 8:45 am]
BILLING CODE 8320-01-P