Request to Lender for Status of Loan Account - LCS

Forms and Documents

Document Name	Status
Form 26-8778 Request to Lender for Status of Loan Account - LCS Form	Modified
2900 0251.doc Supplementary Document	2007-08-21
OMB26-8778(7-15-07)[1].doc Supporting Statement A	2007-07-16

IC Document Collections

IC ID	Document Title	Status
28490	Request to Lender for Status of Loan Account - LCS Form	Modified

ICR Details

OMB Control No: 2900-0251	ICR Reference No: 200706-2900-040
Status: Historical Active	Previous ICR Reference No: 200511-2900-002
Agency/Subagency: VA	Agency Tracking No: 2900-0251
Title: Request to Lender for Status of Loan Account - LCS
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/22/2007
	Date Received in OIRA: 07/16/2007
Terms of Clearance: Approved consistent with the following terms of clearance: per VA memo OMB encourages VA to continue work on a system that will allow fully electronic submission of data associated with this collection.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2010	36 Months From Approved	08/31/2007
Responses	175,000	0	175,000
Time Burden (Hours)	29,167	0	29,167
Cost Burden (Dollars)	0	0	0

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Abstract: Status request to servicers of guaranteed or insured loans and vendee loans sold with VA repurchase agreement on loans previously reported in default. Servicers are required to report by 38 U.S.C. 3704(d) or 3720(a)(5) and (c), 38 CFR 36.4280, 36.4282, 36.4317, 36.4319 or 36.4600(c). Data is essential to VA contracts with obligors.

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Authorizing Statute(s): US Code: 38 USC 3704(d) Name of Law: Restrictions on loans
   US Code: 38 USC 3720(a)(5) Name of Law: Powers of Secretary
   US Code: 38 USC 3720(c) Name of Law: Powers of Secretary
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 62	04/02/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 118	06/20/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Request to Lender for Status of Loan Account - LCS	26-8778	Request to Lender for Status of Loan Account - LCS

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	175,000	175,000	0	0	0	0
Annual Time Burden (Hours)	29,167	29,167	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $3,259,813

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/16/2007

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