Status of Loan Account - Foreclosure or Other Liquidation (VA Form 26-0971)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form VA Form 26-0971 Status of Loan Account - Foreclosure or Other Liquidation	Form	Modified	Available
Form VA Form 26-0971 Status of Loan Account - Foreclosure or Other Liquidation (VA Form 26-0971)	Form	Modified	Repair queued
2023-10601.pdf	Supplementary Document	Uploaded 2023-05-18	Repair queued
2900-0851 VA 26-0971 Supporting Statement v2.docx	Supporting Statement A	Uploaded 2023-03-15	Repair queued
2023-05176.pdf	Supplementary Document	Uploaded 2023-03-14	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
219213	Status of Loan Account - Foreclosure or Other Liquidation (VA Form 26-0971)	Form	Modified	Status of Loan Account - Foreclosure or Other Liquidation
219213	Status of Loan Account - Foreclosure or Other Liquidation (VA Form 26-0971)	Form	Modified

ICR Details

OMB Control No: 2900-0851	ICR Reference No: 202303-2900-002
Status: Historical Active	Previous ICR Reference No: 202002-2900-002
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-NK
Title: Status of Loan Account - Foreclosure or Other Liquidation (VA Form 26-0971)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 06/27/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/18/2023
Terms of Clearance: OMB is approving this information collection request for a period of three years during which time the agency will request approval to extend or revise the collection if the agency seeks to continue the information collection activity beyond the period approved under this action.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2026	36 Months From Approved	10/31/2023
Responses	10	0	20
Time Burden (Hours)	5	0	10
Cost Burden (Dollars)	0	0	0

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Abstract: Under 38 CFR 36, the holder of a delinquent vendee account is legally entitled to repurchase of the loan by VA when the loan has been continuously in default for 3 months and the amount of the delinquency equals or exceeds the sum of 2 monthly installments. When requesting the repurchase of a loan, the holder uses VA Form 26-0971.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: US Code: 44 USC 3501-21 Name of Law: PRA of 1995

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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:
	88 FR 5176	03/14/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 10601	05/18/2023
Did the Agency receive public comments on this ICR? No

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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
Status of Loan Account - Foreclosure or Other Liquidation (VA Form 26-0971)	VA Form 26-0971	Status of Loan Account - Foreclosure or Other Liquidation

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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	10	20	0	-10	0	0
Annual Time Burden (Hours)	5	10	0	-5	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The burden has decreased because the VA Form 26-0971 is used only when the VALERI application is unavailable.

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Annual Cost to Federal Government: $755

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: 05/18/2023

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