Agency Information Collection Activities Under OMB Review

DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0029]

Agency Information Collection Activities Under OMB Review

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

(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 October 28, 1999.

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

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

Affairs, 810 Vermont Avenue, NW, Washington, DC 20420, (202) 273-8030

or FAX (202) 273-5981. Please refer to ``OMB Control No. 2900-0029.''

SUPPLEMENTARY INFORMATION:

Titles and Form Numbers:

a. Offer to Purchase and Contract of Sale, VA Form 26-6705.

b. Credit Statement of Prospective Purchaser, VA Form 26-6705b.

c. Addendum to VA Form 26-6705 (Virginia), VA Form 26-6705d

OMB Control Number: 2900-0029.

Type of Review: Revision of a currently approved collection.

Abstract:

a. VA Form 26-6705 is used by the private sector sales broker to

submit an offer to the VA on behalf of a prospective purchaser of a VA-

acquired property. The form will be prepared for each proposed contract

submitted to the

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VA. If the VA accepts the offer to purchase, it then becomes a contract

of sale. The form defines the terms of sale, provides the prospective

purchaser with a receipt for his/her earnest money deposit, eliminates

the need for separate transmittal of a purchase offer and develops the

contract without such intermediate processing steps and furnishes

evidence of the station decision with respect to the acceptance of the

contract as tendered. Without this information, a determination of the

best offer for a property cannot be made.

b. VA Form 26-6705b is used as a credit application to determine

the creditworthiness of a prospective purchaser in those instances when

the prospective purchaser seeks VA vendee financing, along with VA Form

26-6705. In such sales, the offer to purchase will not be accepted

until the purchaser's income and credit history have been verified and

a loan analysis has been completed, indicating loan approval. Without

this information, the creditworthiness of a prospective purchaser

cannot be determined and the offer to purchase cannot be accepted.

c. VA Form 26-6705d is an addendum to VA Form 26-6705 for use in

Virginia. It includes requirements of State law, which must be

acknowledged by the purchaser at or prior to closing.

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 June 22, 1999, at page 33342.

Affected Public: Individuals or households.

Estimated Annual Burden: 57,917 hours.

a. VA Form 26-7605--35,000 hours.

b. VA Form 26-6705b--22,500 hours.

c. VA Form 26-6705d--417 hours.

Estimated Average Burden Per Respondent: 20 minutes (average).

a. VA Form 26-7605--21 minutes.

b. VA Form 26-6705b--20 minutes.

c. VA Form 26-6705d--5 minutes.

Frequency of Response: Generally one-time.

Estimated Number of Total Respondents: 172,500.

a. VA Form 26-7605--100,000.

b. VA Form 26-6705b--67,500.

c. VA Form 26-6705d--5,000.

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. 2900-0029'' in any correspondence.

Dated: September 1, 1999.

By direction of the Secretary.

Donald L. Neilson,

Director, Information Management Service.

[FR Doc. 99-25127 Filed 9-27-99; 8:45 am]

BILLING CODE 8320-01-P