Farm Loan Programs - Direct Loan Servicing - Regular

Forms and Documents

Document Name	Status
Form FSA-2040 Farm Loan Programs - Direct Loan Servicing - Regular Form	Modified
Supporting document 7-2023.docx Supporting Statement A	2023-07-20
Reporting and Recordkeeping Requirements 7 14 2023.xlsm Supplementary Document	2023-07-25

IC Document Collections

IC ID	Document Title	Status
1566	Farm Loan Programs - Direct Loan Servicing - Regular Form	Modified

ICR Details

OMB Control No: 0560-0236	ICR Reference No: 202303-0560-001
Status: Received in OIRA	Previous ICR Reference No: 202209-0560-003
Agency/Subagency: USDA/FSA	Agency Tracking No:
Title: Farm Loan Programs - Direct Loan Servicing - Regular
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/25/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved	12/31/2025
Responses	99,147	98,970
Time Burden (Hours)	30,638	30,550
Cost Burden (Dollars)	0	0

---

Abstract: Information is used to determine borrower compliance with loan covenants, assist borrower in achieving their business goals, and regular servicing of loan account such as graduation, subordination, partial release, and use of proceeds.

---

Authorizing Statute(s): US Code: 7 USC 1921 Name of Law: CONACT
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 16394	03/17/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 47844	07/25/2023
Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Farm Loan Programs - Direct Loan Servicing - Regular	FSA-2400-6 CA, FSA-2040, FSA-2425, FSA-2450, FSA-2465, FSA-2476, FSA-2489, FSA-2025, FSA-2061, FSA-2062	Agreement for Disposition of Security/Release Subordination/Consent ,   Cancellling Undisbursed loan funds ,   Temporary Amendment - consent to payment of proceeds from sale ,   Assignment Acceptance/release for wool and mohair/borrower ,   Transfer of real estate security/transferee ,   Assumption agreement ,   Notification of approval and borrower responsibilities ,   Assisgnment of Deed or Trust for California ,   Application for partial release or consent ,   Application for subordination of security for commercial credit

---

ICR Summary 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	99,147	98,970	0	177	0	0
Annual Time Burden (Hours)	30,638	30,550	0	88	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 estimated burden hours increased by 88 hours while the annual responses have increased by 177. The increase in burden is not attributed to additional completion time related to either new form but instead is an overall estimated increase in total future usage of the forms based on the number of borrowers who utilize the FSA-2060 to request servicing actions over the past five years. Due to Executive Order 14058, the Secretary of Agriculture tasked FSA with simplifying the direct loan application process resulting in retirement of FSA-2060 and creation of FSA-2061 and FSA-2062.

---

Annual Cost to Federal Government: $4,956,359

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.     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

---

Common Form ICR:  No

---

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: 07/25/2023

---