Loan Guaranty - Maintenance of Loan Records, Elimination of Reference to HUD MPS (HUD Handbook 4900.1) (38 CFR 36.4215 and 36.4330)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
2022-16282.pdf	Supplementary Document	Uploaded 2022-08-16	Repair queued
SupportingStatement (2900-0515) v3.docx	Supporting Statement A	Uploaded 2022-06-01	Repair queued
2022-11369.pdf	Supplementary Document	Uploaded 2022-06-01	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
253735	Pre-Closing API Review Submission		New
253734	Audit Collections Submitted via API		New
148357	Audit Collection Manual Submission	Other-Screen Shot	Modified

ICR Details

OMB Control No: 2900-0515	ICR Reference No: 202205-2900-004
Status: Historical Active	Previous ICR Reference No: 202203-2900-002
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-NK
Title: Loan Guaranty - Maintenance of Loan Records, Elimination of Reference to HUD MPS (HUD Handbook 4900.1) (38 CFR 36.4215 and 36.4330)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/26/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 08/16/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2025	36 Months From Approved	06/30/2024
Responses	1,385,000	0	35,000
Time Burden (Hours)	14,983	0	17,500
Cost Burden (Dollars)	0	0	0

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Abstract: VA is submitting this revised information collection in advance of implementing new technology and oversight procedures in which VA will collect from lenders certain loan origination information via a computable electronic format.

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Authorizing Statute(s): US Code: 38 USC 3703(c)(1)
  

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:
	87 FR 11369	05/26/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 16282	07/29/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
Audit Collection Manual Submission
Audit Collections Submitted via API
Pre-Closing API Review Submission

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ICR Summary of Burden

table that charts list 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	1,385,000	35,000	0	1,350,000	0	0
Annual Time Burden (Hours)	14,983	17,500	0	-2,517	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: Yes

Burden Reduction Due to: Using Information Technology

Short Statement: The figures presented reflect current loan volumes. Burden for respondents’ submissions for post-closing loan audits will decrease with respondent adoption of the Loan Review API, however the new burden for the voluntary pre-closing API was added to increase the the burden.

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Annual Cost to Federal Government: $1,901,462

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.     No

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.     No

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: 08/16/2022

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