Industry Standard Forms for Completing an Appraisal Required by VA (FNMA Forms 1004, 1004C, 1004D, 1025, 1073, 1075 and 2055)

ICR 202109-2900-002

OMB: 2900-0890

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Unchanged
Supplementary Document
2021-11-17
Supplementary Document
2021-09-10
Supporting Statement A
2021-09-10
IC Document Collections
ICR Details
2900-0890 202109-2900-002
Received in OIRA 202105-2900-004
VA VBA-LGY-YA
Industry Standard Forms for Completing an Appraisal Required by VA (FNMA Forms 1004, 1004C, 1004D, 1025, 1073, 1075 and 2055)
Extension without change of a currently approved collection   Yes
Regular 11/17/2021
  Requested Previously Approved
36 Months From Approved 12/31/2021
650,000 650,000
10,833 10,833
0 0

This information collection package seeks approval of VA’s requirement that appraisers utilize certain industry-standard forms in completing an appraisal. 38 U.S.C. 3731 authorizes the VA Secretary to establish a panel of appraisers, prescribe qualifications for such appraisers, and determine reasonable value of a property, construction, repairs or alterations based on an appraisal report provided by a panel appraiser for the purpose of guaranteeing a loan.

US Code: 38 USC 3731
  
None

Not associated with rulemaking

  86 FR 50595 09/09/2021
86 FR 64297 11/17/2021
No

  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 650,000 650,000 0 0 0 0
Annual Time Burden (Hours) 10,833 10,833 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$352,430
No
    Yes
    No
No
No
No
Yes
Maribel Aponte 202 266-4688 [email protected]

  Yes
 
Agency/Sub Agency RCF ID RCF Title RCF Status IC Title

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
11/17/2021


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