Supporting Statement for VA Form 26-8261a,
Request for Certificate of Veteran Status
A. JUSTIFICATION
1. VA Form 26-8261a is used by VA to determine an applicant’s eligibility for a possible reduced down payment when obtaining a loan insured by the Federal Housing Administration (FHA), under the provisions of Section 203(b)(2) or 220(d)(a) of the National Housing Act as amended.
2. FHA actually provides the benefit. However, VA is charged with determining if the veteran-applicant meets the basic eligibility requirements regarding length and character of service. If eligibility is established, VA issues the applicant a Certificate of Veterans Status that is then used when the borrower obtains an FHA insured loan. This certificate gives the borrower the possibility of a reduced down payment on an FHA backed loan.
3. VA has not developed an information technology solution for making these determinations because of its limited use. Maintaining a system for electronic submissions would not be cost effective. The form is available on the Internet at http://www.va.gov/vaforms.
4. There is no duplication of information involved. No similar information is available as the form solicits information concerning an individual’s veteran status for possible eligibility for a reduced down payment when obtaining a home loan insured by the Federal Housing Administration.
5. The collection of information does not involve small businesses.
6. The information collected is completed by applicants and is necessary to establish eligibility for the FHA administered program. The collection is typically conducted only once per applicant.
7. There are no special circumstances that require the collection to be conducted in a manner inconsistent with the guidelines in 5 CFR 1320.6.
8. The Department notice was published in the Federal Register on xxxxxxx, xxxx, page xxxxxxx. No comments were received.
9. No payments or gifts to respondents have been made under the collection of this information.
10. Loan Guaranty Home, Condominium and Manufactured Home Loan Applicant Records (55VA26) are contained in the Privacy Act Issuances, 2001 Compilations.
11. No questions of a sensitive nature are contained on the form.
12. Estimate of Information Collection Burden
a. The number of respondents is estimated at less than 25 per year. The decrease in volume is due to the continued decline in FHA/VA loans.
b. Frequency of response is generally one time.
c. Annual burden is 4 hours.
The estimated average response time of 10 minutes per
transaction is based on Loan Guaranty form usage
experience.
The total estimated cost to respondents is $60
($15 per hour x 4 hours).
13. This submission does not involve any recordkeeping costs.
14. Estimated Annualized Cost to the Federal Government
$113.50 Loan Guaranty processing cost for
25 cases x 10 minutes x $27.24 per hour
average loan guaranty field salary
$ 0 Estimated printing cost ($0, available on internet)
$114 Total estimated cost to the Government.
15. The decrease in burden hours is due to the decrease in volume which is an effect of the continued decline in FHA/VA loans.
16. Information collection is not for tabulation or publication use.
17. Not requesting exemption.
18. This submission does not contain any exceptions to the certification statement identified in item 19 “Certification for Paperwork Reduction Act Submissions,” of OMB Form 83-1.
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B. COLLECTION OF INFORMATION EMPLOYING STATISTICAL METHODS
The information collection does not employ statistical methods.
26A1 262A/262 26A
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| File Type | application/msword |
| File Modified | 0000-00-00 |
| File Created | 0000-00-00 |