Agency Information Collection Activities Under OMB Review

DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0110]

Agency Information Collection Activities Under OMB Review

AGENCY: Veterans Benefits Administration, Department of Veterans

Affairs.

ACTION: Notice.

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

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995

(44 U.S.C., 3501 et seq.), this notice announces that the Veterans

Benefits Administration (VBA), Department of Veterans Affairs, has

submitted 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; it includes the actual data collection

instrument.

DATES: Comments must be submitted on or before August 15, 1997.

FOR FURTHER INFORMATION OR A COPY OF THE SUBMISSION CONTACT: Ron

Taylor, Information Management Service (045A4), Department of Veterans

Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, (202) 273-8015

or FAX (202) 273-5981. Please refer to ``OMB Control No. 2900-0110'' in

any correspondence.

SUPPLEMENTARY INFORMATION:

Title: Application for Assumption Approval and/or Release from

Personal Liability to the Government on a Home Loan, VA Form 26-6381.

OMB Control Number: 2900-0110.

Type of Review: Reinstatement, without change, of a previously

approved collection for which approval has expired.

Abstract: The form is completed by veterans who are selling their

homes by assumption rather than requiring purchasers to obtain their

own financing to pay off the loan. The information furnished is

essential to determinations for assumption approval, release of

liability, and substitution of entitlement.

Title 38, U.S.C., Section 3713(a) provides that when a veteran

disposes of his or her interest in the property securing the loan, the

VA may, upon request, release the original veteran-borrower from

personal liability to the Government only if three requirements are

fulfilled. First, the loan must be current. Second, the purchaser must

assume all of the veteran's liability to the Government and the

mortgage holder on the guaranteed loan. Third, the purchaser must

qualify from a credit and income standpoint, to the same extent as if

he or she was a veteran applying for a VA-guaranteed loan in the same

amount as the loan being assumed.

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 on December 30, 1996 at page 68819.

Affected Public: Individuals or households, and Business or other

for-profit.

Estimated Annual Burden: 790 hours.

Estimated Average Burden Per Respondent: 10 minutes.

Frequency of Response: On occasion.

Estimated Number of Respondents: 4,740.

Send comments and recommendations concerning any aspect of the

information collection to VA's OMB Desk Officer, Allison Eydt, OMB

Human Resources and Housing Branch, New Executive Office Building, Room

10235, Washington, DC 20503, (202) 395-4650. Please refer to ``OMB

Control No. 2900-0110'' in any correspondence.

Dated: June 25, 1997.

By direction of the Secretary.

Donald L. Neilson,

Director, Information Management Service.

[FR Doc. 97-18634 Filed 7-15-97; 8:45 am]

BILLING CODE 8320-01-P