[Federal Register Volume 87, Number 133 (Wednesday, July 13, 2022)]
[Notices]
[Page 41873]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14909]



[[Page 41873]]

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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0021]


Agency Information Collection Activity: VA Loan Electronic 
Reporting Interface (Valeri) System and Title Requirements for 
Conveyance of Real Property to the Secretary

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. 2900-0021.

FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise 
and Integration, Data Governance Analytics (008), 1717 H Street NW, 
Washington, DC 20006, (202) 266-4688 or email [email protected]. 
Please refer to ``OMB Control No. 2900-0021'' in any correspondence.

SUPPLEMENTARY INFORMATION:
    Authority: 38 CFR 36.4338(a).
    Title: VA Loan Electronic Reporting Interface (VALERI) System and 
Title Requirements for Conveyance of Real Property to the Secretary.
    OMB Control Number: 2900-0021.
    Type of Review: Revision.
    Abstract: VA is submitting this modification to address information 
collection in the event loss mitigation efforts are unsuccessful and a 
VA-guaranteed loan goes into foreclosure. Statutory requirements for 
conveyance of properties to the Secretary are found in chapter 37 of 
title 38, United States Code. The implementing regulations are found in 
part 36 of title 38, Code of Federal Regulations (CFR). In 38 CFR 
36.4323, titled ``Election to convey security'', VA explains that each 
conveyance or transfer of real property to the Secretary pursuant to 
this section shall be acceptable if:
    The holder thereby covenants or warrants against the acts of the 
holder and those claiming under the holder (e.g., by special warranty 
deed); and
    It vests in the Secretary or will entitle the Secretary to such 
title as is or would be acceptable to prudent lending institutions, 
informed buyers, title companies, and attorneys, generally, in the 
community in which the property is situated.
    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 insert citation date: 87 FR 89 on May 9, 
2022, pages 27700 and 27701.
    Affected Public: Individuals or Households.
    Estimated Annual Burden: 3,027 hours.
    Estimated Average Burden per Respondent: 11 minutes.
    Frequency of Response: One time.
    Estimated Number of Respondents: 16,509.

    By direction of the Secretary.
Maribel Aponte,
VA PRA Clearance Officer, Office of Enterprise and Integration, Data 
Governance Analytics, Department of Veterans Affairs.
[FR Doc. 2022-14909 Filed 7-12-22; 8:45 am]
BILLING CODE 8320-01-P