Farm Loan Programs - Direct Loan Making

ICR 202406-0560-002

OMB: 0560-0237

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Form
Modified
Justification for No Material/Nonsubstantive Change
2024-08-22
Justification for No Material/Nonsubstantive Change
2024-08-22
Supporting Statement A
2023-01-11
Supporting Statement A
2023-01-11
Supplementary Document
2022-12-01
Supplementary Document
2022-12-01
IC Document Collections
ICR Details
0560-0237 202406-0560-002
Active 202401-0560-006
USDA/FSA
Farm Loan Programs - Direct Loan Making
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 08/30/2024
Retrieve Notice of Action (NOA) 08/23/2024
  Inventory as of this Action Requested Previously Approved
01/31/2026 01/31/2026 01/31/2026
611,359 0 611,359
295,850 0 295,850
0 0 0

Information is used to determine applicant's eligibility for a direct loan; ensure cash flow projections are based on actual production history; ensure that loan is adequately secured; and obtain assignments on income or sales proceeds to ensure timely repayment of the loan.

US Code: 7 USC 1921 Name of Law: CONACT
  
None

Not associated with rulemaking

  87 FR 57453 09/20/2022
87 FR 75216 12/08/2022
No

1
IC Title Form No. Form Name
Farm Loan Programs - Direct Loan Making FSA-2318, FSA-2301, FSA-2313, FSA-2350, FSA-2351, FSA-2313 , FSA-2314 , FSA-2360, FSA-2361, FSA-2342, FSA-2319, FSA-2317, FSA-2344, FSA-2352, FSA-2003, FSA-2027, FSA-2371, FSA-2376, FSA-2002, FSA-2004, FSA-2005, FSA-2006, FSA-2007 , FSA-2026, FSA-2028 , FSA-2041, FSA-2042, FSA-2370, FSA-2309, FSA-2340, FSA-2310, FSA-2341, FSA-2029- M, FSA-2044, FSA-2001, FSA-2043, FSA-2015, FSA-2320, FSA-2014 Request for loan making assistance. ,   Three-Year Financial History ,   Three-year Production History ,   Authorization to release information ,   Creditor List ,   Property Owned and Leased ,   Verification of debts and assets ,   Verification of Income ,   Supplemental payment agreement ,   Consent and subordination ,   Assignment of Proceeds- consent to payment ,   Assignment of proceeds & consent to payment ,   Assignment of dairy proceeds ,   Assignment of income ,   Request for Youth Loan ,   Certification of disaster losses ,   Lender's verification of loan application ,   Notification of loan approval and conditions ,   Agreement for disposition of jointly-owned property ,   Agreement with prior lienholder ,   Property insurance mortgage clause ,   Selection of attorney/title company ,   Certification of attorney/title company ,   Certification of attorney/title company ,   Preliminary title opinion ,   Loan closing instructions ,   Certification fo improvement of property ,   Final title opinion ,   Report of lien search ,   Lender subordination agreement ,   Request for waiver fo borrower training requirements ,   Agreement to complete training ,   Borrower training course evaluation ,   Streamlined Request for Direct OL Assistance ,   NOTIFICATION OF LOAN APPROVAL AND BORROWER RESPONSIBILITIES ,   COSIGNER APPLICATION AND AGREEMENT ,   SECURITY AGREEMENT ,   Promissory Note ,   Mortgage/Deed of Trust

  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 611,359 611,359 0 0 0 0
Annual Time Burden (Hours) 295,850 295,850 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
FSA is conducting this revision due to Executive Order 14058 issued by the White House, that tasked the Secretary of Agriculture with simplifying the direct loan application process. In doing so, this collection was also affected. The numbers of responses decreased by 93,365 while the burden hours increased by 10,578 due to the forms FSA-2001, FSA-2002, FSA-2003, FSA-2004, FSA-2005, FSA-2006, FSA-2037, FSA-2038, FSA-2302, and FSA-2330 that have been consolidated into a single form for the purposes of direct loan making and that consolidation is reflected in this collection. The revised FSA-2001 will be used for direct loan making to replace the use of the other listed forms; other Farm Loan Programs uses, for example loan servicing will still use the original forms in some cases. Also, the number of respondents decreased by 10,474 in this collection.

$23,482,299
No
    Yes
    Yes
No
No
No
Yes
Mary Ann Ball 202-720-4283 [email protected]

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
08/23/2024


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