Proposed Information Collection Activity: Proposed Collection; Comment Request, 15768 [E7-6031]

Agencies

• DEPARTMENT OF VETERANS AFFAIRS

[Federal Register Volume 72, Number 62 (Monday, April 2, 2007)]
[Notices]
[Page 15768]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-6031]



[[Page 15768]]

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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0021]


Proposed Information Collection Activity: Proposed Collection; 
Comment Request

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: The Veterans Benefits Administration (VBA), Department of 
Veterans Affairs (VA), is announcing an opportunity for public comment 
on the proposed collection of certain information by the agency. Under 
the Paperwork Reduction Act (PRA) of 1995, Federal agencies are 
required to publish notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of a currently approved collection, and allow 60 days for public 
comment in response to the notice. This notice solicits comments for 
information needed to justify the extension of forbearance to the 
veteran-borrower as opposed to foreclosure.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before June 1, 2007.

ADDRESSES: Submit written comments on the collection of information 
through https://www.Regulations.gov or to Nancy J. Kessinger, Veterans 
Benefits Administration (20M35), Department of Veterans Affairs, 810 
Vermont Avenue, NW., Washington, DC 20420 or e-mail to 
nancy.kessinger@va.gov. Please refer to ``OMB Control No. 2900-0021'' 
in any correspondence. During the comment period, comments may be 
viewed online through the Federal Docket Management System (FDMS) at 
www.Regulations.gov.

FOR FURTHER INFORMATION CONTACT: Nancy J. Kessinger at (202) 273-7079 
or FAX (202) 275-5947.

SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Pub. L. 104-13; 44 
U.S.C. 3501-3521), Federal agencies must obtain approval from the 
Office of Management and Budget (OMB) for each collection of 
information they conduct or sponsor. This request for comment is being 
made pursuant to Section 3506(c)(2)(A) of the PRA.
    With respect to the following collection of information, VBA 
invites comments on: (1) Whether the proposed collection of information 
is necessary for the proper performance of VBA's functions, including 
whether the information will have practical utility; (2) the accuracy 
of VBA's estimate of the burden of the proposed collection of 
information; (3) ways to enhance the quality, utility, and clarity of 
the information to be collected; and (4) ways to minimize the burden of 
the collection of information on respondents, including through the use 
of automated collection techniques or the use of other forms of 
information technology.
    Titles:
    a. Notice of Default, VA Form 26-6850.
    b. Notice of Default and Intention to Foreclose, VA Form 26-6850a.
    c. Notice of Intention to Foreclose, VA Form 26-6851.
    OMB Control Number: 2900-0021.
    Type of Review: Extension of a currently approved collection.
    Abstract: Holders of guaranteed loans are required to notify VA 
within 45 days of a loan default due to nonpayment of any installment 
for a period of 60 days from the date of the first uncured default. 
Holders are also required to notify VA of their intention to foreclose. 
After delivery of such notice to VA and 30 days has passed, the holder 
can begin court proceedings, give notice of sale under power of sale, 
or otherwise take steps to terminate the debtor's rights in the 
security.
    VA Forms 26-6850 and 26-6851 require that servicing efforts are 
fully explained so that VA can determine whether supplemental servicing 
could develop further information to justify the extension of 
forbearance to the veterans-borrower as opposed to foreclosure. The 
information provided is used to coordinate the actions of VA and the 
holder to ensure that all legal requirements regarding foreclosure and 
claim payment are met. VA Form 26-6850a is filed by holders when 
defaults are determined insoluble by holders at the time the notice of 
default is filed with VA This form provides both notice of default and 
intent to foreclosure together on one form.
    Affected Public: Business or other for profit, and Individuals or 
households.
    Estimated Annual Burden: 66,166.
    a. VA Form 26-6850--20,166 hours.
    b. VA Form 26-6850a--26,000 hours.
    c. VA Form 26-6851--20,000 hours.
    Estimated Average Burden Per Respondent:
    a. VA Form 26-6850--10 minutes.
    b. VA Form 26-6850a--20 minutes.
    c. VA Form 26-6851--15 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 279,000 hours.
    a. VA Form 26-6850--121,000 hours.
    b. VA Form 26-6850a--78,000 hours.
    c. VA Form 26-6851--80,000 hours.

    Dated: March 23, 2007.

    By direction of the Acting Secretary.
Denise McLamb,
Program Analyst, Records Management Service.
 [FR Doc. E7-6031 Filed 3-30-07; 8:45 am]
BILLING CODE 8320-01-P