LOAN GUARANTY: PROCESSING ASSUMPTIONS OF VA GUARANTEED HOME LOANS UNDER 38 U.S.C. 3714

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
2024-17064.pdf	Supplementary Document	Uploaded 2024-08-02	Repair queued
2024-11737.pdf	Supplementary Document	Uploaded 2024-06-12	Repair queued
SupportStatement_2900-0516_Reinstatement ICR_2-UPDATED 08082024.docx	Supporting Statement A	Uploaded 2024-08-08	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
148359	LOAN GUARANTY: PROCESSING ASSUMPTIONS OF VA GUARANTEED HOME LOANS UNDER 38 U.S.C. 3714	Other-Instrument Artifact	Modified

ICR Details

OMB Control No: 2900-0516	ICR Reference No: 202405-2900-015
Status: Active	Previous ICR Reference No: 199112-2900-005
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-NK
Title: LOAN GUARANTY: PROCESSING ASSUMPTIONS OF VA GUARANTEED HOME LOANS UNDER 38 U.S.C. 3714
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/11/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 08/08/2024
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	09/30/2027	36 Months From Approved
Responses	2,055	0	0
Time Burden (Hours)	514	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: 38 U.S.C. 3714 REQUIRES UNDERWRITING OF ASSUMED VA GUARANTEED LOANS. THESE AMENDMENTS IMPLEMENT THE REQUIREMENTS OF THIS LAW.

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Authorizing Statute(s): US Code: 38 USC 3714 Name of Law: Assumptions, Release from Liability
  

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:
	89 FR 46573	05/29/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 63255	08/02/2024
Did the Agency receive public comments on this ICR? Yes

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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
LOAN GUARANTY: PROCESSING ASSUMPTIONS OF VA GUARANTEED HOME LOANS UNDER 38 U.S.C. 3714

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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	2,055	0	0	-52,945	0	55,000
Annual Time Burden (Hours)	514	0	0	-31,111	0	31,625
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 due to a reduction in assumption applications received by VA. Prior response reported in 1992 was 55,000 (31,625 burden hours). In 1990, we said 1,825 annually (10,432 burden hours).

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Annual Cost to Federal Government: $43,979

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: 08/08/2024

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