Department of Veterans Affairs Servicing Purchase (VASP) program

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
30-Day FRN - 2900-0934 (VASP).pdf	Supplementary Document	Uploaded 2024-01-31	Repair queued
Final SupportingStatement - 2900-0934 - VASP Program - v7.docx	Supporting Statement A	Uploaded 2024-02-01	Repair queued
60-Day FRN - 2900-0934.pdf	Supplementary Document	Uploaded 2023-11-27	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
263392	Veterans - VASP Program	Other-Database	Unchanged
263350	Lenders - VASP Program	Other-Database	Unchanged

ICR Details

OMB Control No: 2900-0934	ICR Reference No: 202311-2900-006
Status: Historical Active	Previous ICR Reference No: 202311-2900-003
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-YA
Title: Department of Veterans Affairs Servicing Purchase (VASP) program
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/13/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/01/2024
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	03/31/2027	36 Months From Approved	05/31/2024
Responses	41,988	0	41,988
Time Burden (Hours)	68,231	0	68,231
Cost Burden (Dollars)	0	0	0

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Abstract: The Department of Veterans Affairs (VA) is initiating an expanded program using existing Refund provisions under 38 U.S.C. § 3732 and 38 C.F.R. 36.4320, Refunding of Loans in Default. This option will assist Veterans with VA-guaranteed loans who have defaulted on their mortgage loan and are facing foreclosure. Under this program, VA will exercise its statutory option to purchase the loan from the servicer and VA will hold the loan in VA’s own loan portfolio.

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Authorizing Statute(s): None

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:
	88 FR 82947	11/27/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 6190	01/31/2024
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Lenders - VASP Program
Veterans - VASP Program

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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	41,988	41,988	0	0	0	0
Annual Time Burden (Hours)	68,231	68,231	0	0	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: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $544,055

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.     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: 02/01/2024

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