Farm Loan Programs - Direct Loan Servicing - Regular

ICR 202408-0560-001

OMB: 0560-0236

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Form
Modified
Justification for No Material/Nonsubstantive Change
2024-08-28
Justification for No Material/Nonsubstantive Change
2024-08-09
Supporting Statement A
2023-07-20
Supporting Statement A
2023-07-20
Supplementary Document
2023-07-25
Supplementary Document
2023-07-25
IC Document Collections
ICR Details
0560-0236 202408-0560-001
Active 202401-0560-007
USDA/FSA
Farm Loan Programs - Direct Loan Servicing - Regular
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved with change 08/30/2024
Retrieve Notice of Action (NOA) 08/23/2024
  Inventory as of this Action Requested Previously Approved
08/31/2026 08/31/2026 08/31/2026
99,147 0 99,147
30,638 0 30,638
0 0 0

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.

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

Not associated with rulemaking

  88 FR 16394 03/17/2023
88 FR 47844 07/25/2023
No

  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 99,147 99,147 0 0 0 0
Annual Time Burden (Hours) 30,638 30,638 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
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.

$4,956,359
No
    No
    Yes
No
No
No
No
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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