[Federal Register Volume 85, Number 65 (Friday, April 3, 2020)]
[Notices]
[Pages 19074-19075]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06971]


-----------------------------------------------------------------------

DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0521]


Agency Information Collection Activity: Report and Certification 
of Loan Disbursement, Request for Verification of Employment and 
Request for Verification of Deposit

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995, 
this notice announces that the Veterans Benefits Administration, 
Department of Veterans Affairs, will submit 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 it 
includes the actual data collection instrument.

DATES: Comments must be submitted on or before May 4, 2020.

[[Page 19075]]


ADDRESSES: Submit written comments on the collection of information 
through www.Regulations.gov, or to Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attn: VA Desk Officer; 725 
17th St. NW, Washington, DC 20503 or sent through electronic mail to 
[email protected]. Please refer to ``OMB Control No. 2900-
0521'' in any correspondence.

FOR FURTHER INFORMATION CONTACT: Danny S. Green, (202) 421-1354 or 
email [email protected]. Please refer to ``OMB Control No. 2900-
0521'' in any correspondence.

SUPPLEMENTARY INFORMATION: 
    Authority: Public Law 104-13; 44 U.S.C. 3501-3521.
    Title: Report and Certification of Loan Disbursement, Request for 
Verification of Employment and Request for Verification of Deposit, (VA 
Form 26-1820, VA Form 26-8497, VA Form 26-8497a).
    OMB Control Number: 2900-0521.
    Type of Review: Extension of a currently approved collection.
    Abstract: Lenders must obtain specific information concerning a 
veteran's credit history in order to properly underwrite the veteran's 
loan. VA loans may not be guaranteed unless the veteran is a 
satisfactory credit risk. The data collected on the following forms are 
used to ensure that applications for VA-guaranteed loans are 
underwritten in a reasonable and prudent manner.
    a. VA Form 26-1820 is completed by lenders closing VA-guaranteed 
and insured loans under the automatic or prior approval procedures.
    b. VA Form 26-8497 is used by lenders to verify a loan applicant's 
income and employment information when making guaranteed and insured 
loans. VA does not require the exclusive use of this form for 
verification purposes, any alternative verification document would be 
acceptable provided that all information requested on VA Form 26-8497 
is provided.
    c. Lenders making guaranteed and insured loans complete VA Form 26-
8497a to verify the applicant's deposits in banks and other savings 
institutions.
    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 at 85 FR18 on January 28, 2020, pages 5068 
and 5069.
    Affected Public: Individuals or households.
    Estimated Annual Burden: 187,500 hours.

VA Form 26-1820: 150,000 hours.
VA From 26-8497: 25,000 hours.
VA Form 26-8497a: 12,500 hours.

    Estimated Average Burden Per Respondent:

VA Form 26-1820: 15 minutes.
VA Form 26-8497: 10 minutes.
VA Form 26-8497a: 5 minutes.

    Frequency of Response: One time.
    Estimated Number of Respondents: 900,000.

VA Form 26-1820: 600,000.
VA Form 26-8497: 150,000.
VA Form 26-8497a: 150,000.

    By direction of the Secretary.
Danny S. Green,
VA Clearance Officer, Office of Quality, Performance and Risk, 
Department of Veterans Affairs.
[FR Doc. 2020-06971 Filed 4-2-20; 8:45 am]
BILLING CODE 8320-01-P