[Federal Register Volume 85, Number 75 (Friday, April 17, 2020)]
[Notices]
[Page 21512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08105]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0474]


Agency Information Collection Activity: Create Payment Request 
for the VA Funding Fee Payment System

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, 
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: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Refer to 
``OMB Control No. 2900-0474.

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-
0474'' in any correspondence.

FOR FURTHER INFORMATION CONTACT: Danny S. Green, (202) 421-1354 or 
email [email protected]. Please refer to ``OMB Control No. 2900-
0474'' in any correspondence.

SUPPLEMENTARY INFORMATION: 
    Authority: Public Law 104-13; 44 U.S.C. 3501-3521.
    Title: Create Payment Request for the VA Funding Fee Payment System 
(VA Form 26-8986).
    OMB Control Number: 2900-0474.
    Type of Review: Extension of a currently approved collection.
    Abstract: A funding fee must be paid to VA before a loan can be 
guaranteed. The funding fee is payable on all VA-guaranteed loans, 
i.e., Assumptions, Manufactured Housing, Refinances, and Real Estate 
purchase and construction loans. The funding fee is not required from 
veterans who are eligible purple heart recipients, veterans who are in 
receipt of compensation for service-connected disability, veterans in 
receipt of compensation for service-connected disability, or veterans 
who, but for receipt of retirement pay, would be entitled to receive 
compensation for their service-connected disability. Loans made to the 
unmarried surviving spouses of veterans (who have died in service or 
from service-connected disability) are exempted from payment of the 
funding fee, regardless of whether the spouse has his/her own 
eligibility, provided that the spouse has used his/her eligibility to 
obtain a VA-guaranteed loan. For a loan to be eligible for guaranty, 
lenders' must provide a copy of the Funding Fee Receipt or evidence the 
veteran is exempt from the requirement of paying the funding fee. The 
receipt is computer generated and mailed to the lender ID number 
address that was entered into an Automated Clearing House (ACH) 
service.
    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 FR 85, on February 12, 2020 page 8101.
    Affected Public: Business or other for profit.
    Estimated Annual Burden: 13,334 hours.
    Estimated Average Burden Per Respondent: 2 minutes.
    Frequency of Response: One time.
    Estimated Number of Respondents: 400,000.

    By direction of the Secretary.
Danny S. Green,
VA Interim Clearance Officer, Office of Quality, Performance and Risk, 
Department of Veterans Affairs.
[FR Doc. 2020-08105 Filed 4-16-20; 8:45 am]
BILLING CODE 8320-01-P