Interest Rate Reduction Refinancing Loan Worksheet (VA Form 26-8923)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 26-8923 Interest Rate Reduction Refinancing Loan Worksheet	Form	Modified	Repair queued
2021-23339.pdf	Supplementary Document	Uploaded 2021-11-04	Repair queued
Final 60-Day FRN.pdf	Supplementary Document	Uploaded 2021-10-20	Repair queued
SupportingStatement VAF 26-8923 (2900-0386) Jul2021 v5.docx	Supporting Statement A	Uploaded 2021-08-23	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
28596	Interest Rate Reduction Refinancing Loan Worksheet	Form	Modified

ICR Details

OMB Control No: 2900-0386	ICR Reference No: 202108-2900-009
Status: Received in OIRA	Previous ICR Reference No: 202103-2900-001
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-NK
Title: Interest Rate Reduction Refinancing Loan Worksheet (VA Form 26-8923)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/04/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2024
Responses	662,165	662,065
Time Burden (Hours)	156,735	156,685
Cost Burden (Dollars)	0	0

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Abstract: VA is revising this information collection to incorporate regulatory collection requirements previously captured under OMB control number 2900-0601. The purpose is to consolidate information collection requirements applicable only for interest rate reduction refinance loans (IRRRLs) under one information collection package.

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Authorizing Statute(s): US Code: 38 USC 3712 Name of Law: Loans to Purchase Manufactured Homes or Lots
   US Code: 38 USC 3703 Name of Law: Basic Provisions Relating to Loan Guaranty and Insurance
   US Code: 38 USC 3729 Name of Law: Loan Fee
   US Code: 38 USC 3710 Name of Law: Purchase or Construction of Homes
  

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:
	86 FR 46090	08/17/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 23339	10/27/2021
Did the Agency receive public comments on this ICR? Yes

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

table that charts list of burden

IC Title	Form No.	Form Name
Interest Rate Reduction Refinancing Loan Worksheet	26-8923	Interest Rate Reduction Refinancing Loan Worksheet

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ICR Summary of Burden

table that charts list of burden

	Total Request	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	662,165	662,065	0	100	0	0
Annual Time Burden (Hours)	156,735	156,685	0	50	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The burden hour has increased because VA is incorporating additional information collection requirements previously covered by another OMB control number in this information collection package.

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Annual Cost to Federal Government: $11,965,321

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 11/04/2021

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