[Federal Register Volume 88, Number 66 (Thursday, April 6, 2023)]
[Notices]
[Page 20613]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-07176]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0474]


Agency Information Collection Activity Under OMB Review: Create 
Payment Request for the VA Funding Fee

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''.

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. 2900-0474'' in any correspondence.

SUPPLEMENTARY INFORMATION: 
    Authority: 38 U.S.C. 3729, 38 CFR 36.4232 and 36.4313.
    Title: Create Payment Request For The VA Funding Fee (VA Form 26-
8986).
    OMB Control Number: 2900-0474.
    Type of Review: Revision of a currently approved collection.
    Abstract: A funding fee must be paid to VA before a loan can be 
guaranteed and evidence of guaranty issued. The funding fee is payable 
on all VA-guaranteed loans (i.e., assumptions, manufactured housing, 
refinances, and real estate purchase and construction loans). Lenders 
are required to pay the funding fee in an internet-based application, 
VA Funding Fee Payment System (FFPS), that permits lenders to pay the 
funding fee online in order to obtain a VA loan guaranty. The 
application calculates the appropriate fee, including any late fees and 
interest that may be due. Lenders may also choose to pay the funding 
fee via batch payment processing by uploading an XML file into FFPS.
    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 88 FR 5434 on January 27, 2023, pages 5434 
and 5435.
    Affected Public: Individuals or Households.
    Estimated Annual Burden: 26,400 hours.
    Estimated Average Burden per Respondent: 2 minutes.
    Frequency of Response: One time.
    Estimated Number of Respondents: 800,000.

    By direction of the Secretary.
Dorothy Glasgow,
VA PRA Clearance Officer, (Alt.), Office of Enterprise and Integration, 
Data Governance Analytics, Department of Veterans Affairs.
[FR Doc. 2023-07176 Filed 4-5-23; 8:45 am]
BILLING CODE 8320-01-P