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	Removed	Available
Form 26-8923 Interest Rate Reduction Refinancing Loan Worksheet	Form	Removed	Repair queued
Form VA Form 26-XXXX IRRRL Comparison Disclosure (Veterans)	Form and Instruction	New	Available
Form VA Form 26-XXXX Interest Rate Reduction Refinancing Loan Comparison Disclosure (Veterans)	Form and Instruction	New	Repair queued
Form VA Form 26-XXX IRRR Loan Comparison Disclosure	Form and Instruction	New	Available
Form VA Form 26-XXX Interest Rate Reduction Refinancing Loan Comparison Disclosure (Lenders)	Form and Instruction	New	Repair queued
Form VA Form 26-8923 Interest Rate Reduction Loan Worksheet	Form and Instruction	New	Available
Form VA Form 26-8923 Interest Rate Reduction Refinancing Loan Worksheet	Form and Instruction	New	Repair queued
2900-0386 (IRRRL) Supporting Statement - Proposed Rule v3.docx	Supporting Statement A	Uploaded 2022-11-16	Available
2900-0386 (IRRRL) Supporting Statement - Proposed Rule v3.docx	Supporting Statement A	Uploaded 2022-11-16	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
28596	Interest Rate Reduction Refinancing Loan Worksheet	Form	Removed	Interest Rate Reduction Refinancing Loan Worksheet
28596	Interest Rate Reduction Refinancing Loan Worksheet	Form	Removed
28596	Interest Rate Reduction Refinancing Loan Worksheet	Other-Online - Web LGY	Removed
256744	Information regarding delinquency (Veterans)		New
256743	Interest Rate Reduction Refinancing Loan Comparison Disclosure (Veterans)	Form and Instruction	New	IRRRL Comparison Disclosure (Veterans)
256743	Interest Rate Reduction Refinancing Loan Comparison Disclosure (Veterans)	Form and Instruction	New
256725	Interest Rate Reduction Refinancing Loan Comparison Disclosure (Lenders)	Form and Instruction	New	IRRR Loan Comparison Disclosure
256725	Interest Rate Reduction Refinancing Loan Comparison Disclosure (Lenders)	Form and Instruction	New
256723	Interest Rate Reduction Refinancing Loan Worksheet	Form and Instruction	New	Interest Rate Reduction Loan Worksheet
256723	Interest Rate Reduction Refinancing Loan Worksheet	Form and Instruction	New

ICR Details

OMB Control No: 2900-0386	ICR Reference No: 202211-2900-002
Status: Historical Inactive	Previous ICR Reference No: 202108-2900-009
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-YA
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
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 11/22/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/17/2022
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. In accordance with 5 CFR 1320, the information collection is not approved at this time. Prior to publication of the final rule, the agency should provide to OMB a summary of all comments received on the proposed information collection and identify any changes made in response to these comments.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2024	36 Months From Approved	12/31/2024
Responses	662,165	0	662,165
Time Burden (Hours)	156,735	0	156,735
Cost Burden (Dollars)	0	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 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
   US Code: 38 USC 3712 Name of Law: Loans to Purchase Manufactured Homes or Lots
  

Citations for New Statutory Requirements: US Code: 38 USC 3709

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
2900-AR58	Proposed rulemaking	87 FR 65700	11/01/2022

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

table that charts list of burden

IC Title	Form No.	Form Name
Information regarding delinquency (Veterans)
Interest Rate Reduction Refinancing Loan Worksheet	VA Form 26-8923	Interest Rate Reduction Loan Worksheet
Interest Rate Reduction Refinancing Loan Comparison Disclosure (Lenders)	VA Form 26-XXX	IRRR Loan Comparison Disclosure
Interest Rate Reduction Refinancing Loan Comparison Disclosure (Veterans)	VA Form 26-XXXX	IRRRL Comparison Disclosure (Veterans)
Interest Rate Reduction Refinancing Loan Worksheet	26-8923	Interest Rate Reduction Refinancing Loan Worksheet

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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: VA notes that there was a calculation error in the information collection previously approved by OMB. Such error has been corrected in this revision and accounts for some of the increased burden hours. Additionally, VA’s prior information collection packages did not account for any Veteran burden associated with certifying as to receipt of any comparison disclosure or providing delinquency information, where appropriate. VA has added these burdens to this package while also updating its burden estimates to reflect the individual burden associated with each comparison disclosure associated with completing an IRRRL.

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Annual Cost to Federal Government: $1,807

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: 11/17/2022

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