[Federal Register Volume 89, Number 21 (Wednesday, January 31, 2024)]
[Notices]
[Pages 6190-6191]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01870]


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

DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0934]


Agency Information Collection Activity under OMB Review: 
Department of Veterans Affairs Servicing Purchase (VASP) Program

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: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice by clicking on the following link https://www.reginfo.gov/public/do/PRAMain, select ``Currently under Review--Open for Public 
Comments'', then search the list for the information collection by 
Title or ``OMB Control No. 2900-0934.''

FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise 
and Integration, Data Governance Analytics (008), 810 Vermont Ave. NW, 
Washington, DC 20420, (202) 266-4688 or email [email protected]. 
Please refer to ``OMB Control No. 2900-0934'' in any correspondence.

SUPPLEMENTARY INFORMATION: 
    Authority: 38 U.S.C. 3732 and 38 CFR 36.4320, Refunding of Loans in 
Default.
    Title: Department of Veterans Affairs Servicing Purchase (VASP) 
Program.
    OMB Control Number: 2900-0934.
    Type of Review: Extension of a currently approved collection.
    Abstract: VA is initiating an expanded program using existing 
Refund provisions. This option will assist Veterans with VA-guaranteed 
loans who have defaulted on their mortgage loan and are facing 
foreclosure. Under this program, VA will exercise its statutory option 
to purchase the loan from the servicer and VA will hold the loan in 
VA's own loan portfolio. The servicer will prepare a modification of 
the loan to increase affordability for the Veteran. Servicers who 
participate in the program are required to document their efforts to 
assist the Veteran through a waterfall of existing loss mitigation 
options and provide that documentation to VA. Information collection is 
necessary to ensure that Veterans and servicers comply with VA program 
requirements under VASP that are not already covered by existing, 
approved information collections for loan servicing and loan refunding.
    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 82947 on November 27, 2023.

[[Page 6191]]

    Affected Public: Individuals or Households.
    Estimated Annual Burden: 68,231 hours.
    Estimated Average Burden per Respondent: 195 minutes.
    Frequency of Response: One time.
    Estimated Number of Respondents: 41,988.

    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. 2024-01870 Filed 1-30-24; 8:45 am]
BILLING CODE 8320-01-P