Agency Information Collection Activity: VA Loan Electronic Reporting Interface (VALERI) System, 64603-64604 [2021-25197]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices Comments are being sought with respect to the collection of information in the proposed Terrorism Risk Insurance Program 2022 data call. Treasury specifically invites comments on: (a) Whether the proposed collection is responsive to the statutory requirement; (b) the accuracy of the estimate of the burden of the collections of information (see below); (c) ways to enhance the quality, utility, and clarity of the information collection; (d) ways to use automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to maintain the information. Treasury previously analyzed the potential burdens associated with the 2021 data call. See 85 FR 41676, 41677– 78 (July 10, 2020). The information sought by Treasury comprises data elements that insurers currently collect or generate, although not necessarily grouped together the way in which insurers currently collect and evaluate the data. Based upon insurer submissions in the 2021 data call, Treasury estimates that for purposes of the 2022 data call, approximately 100 Program participants will be required to submit the ‘‘Insurer (Non-Small) Groups or Companies’’ data collection form, 225 Program participants will be required to submit the ‘‘Small Insurer’’ form, 575 Program participants will be required to submit the ‘‘Captive Insurer’’ form, and 100 Program participants will be required to submit the ‘‘Alien Surplus Lines Insurers’’ form. Each set of reporting templates is expected to incur a different level of burden. At the time of the 2020 estimate, the average burden estimate for Non-Small Insurers was 82 hours; for Small Insurers, 28 hours; for Captive Insurers, 51 hours, and for Alien Surplus Lines Insurers, 51 hours.20 When Treasury added a Cyber worksheet to the reporting templates in 2018, it did not estimate any additional material burden at that time associated with incremental addition of requiring some limited cyber insurance reporting.21 The changes to the proposed data reporting elements in 2022 are not anticipated to have a significant impact on Treasury’s prior burden estimates with respect to the additional requested information specific to captive insurers, as the additional information is largely the same information that has been previously collected, with the additional requirement that such 20 85 FR 41676, 41677–78 (July 10, 2020). 21 82 FR 56328, 56331 (Nov. 28, 2017). VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 information be divided between deductible reimbursement policies versus other policies in the same line of insurance. Given the relatively small number of policies issued by captive insurers, the additional effort to make this separation (assuming the captive insurer issues policies in both categories) should not be significant. Treasury does anticipate that the additional information collection concerning cyber insurance (which is sought from each category of participating insurer) will have an impact upon the existing burden estimates. Although the amount of information requested concerning cyber insurance is more than has been requested in the past, it is in generally in the same format, with the exception that some information is now requested to be provided by size of policyholder. FIO anticipates that this will require some further manipulation of the data by participating insurers than in prior years. In addition, the templates now request claims-related information. Accordingly, for those insurers required to respond to the Cyber (Nationwide) worksheet, Treasury anticipates an additional 10 hours of burden, based upon its own evaluation and engagement with its data aggregator. That estimate, however, should be reduced by the percentage of insurers in each respective category that complete the Cyber worksheet. Based upon the results of the 2021 data call, 80 percent of Non-Small Insurers, 33 percent of Small Insurers, 10 percent of Captive Insurers, and 60 percent of Alien Surplus Lines Insurers provided information in connection with this worksheet. Accordingly, Treasury estimates the incremental additional burden for each group as 8 hours for Non-Small Insurers, for 90 hours total; 4 hours for Small Insurers, or 32 hours total; 1 hour for Captive Insurers, or 52 hours total; and 6 hours for Alien Surplus Lines Insurers, or 57 hours total. Assuming this breakdown, and when applied to the number of reporting insurers anticipated in light of the experience of the 2021 data call, the estimated annual burden would be 51,800 hours ((100 insurers × 90 hours) + (225 insurers × 32 hours) + (575 insurers × 52 hours) + (100 insurers × 57 hours)). At a blended, fully loaded hourly rate of $52.25,22 the anticipated 22 Based on data from the Bureau of Labor Statistics, for Insurance Carriers and Related Activities, https://www.bls.gov/iag/tgs/iag524.htm. The average wage rate for all insurance employees was $39.02 in July 2021, and the total benefit compensation in the 2nd Quarter of 2021 was PO 00000 Frm 00159 Fmt 4703 Sfmt 4703 64603 labor cost would be $2,706,550 across the industry as a whole, or $4,703 per Non-Small Insurer, $1,672 per small insurer, $2,717 per Captive Insurer, and $2,978 per Alien Surplus Lines Insurer. Dated: November 15, 2021. Steven E. Seitz, Director, Federal Insurance Office. [FR Doc. 2021–25181 Filed 11–17–21; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0021] Agency Information Collection Activity: VA Loan Electronic Reporting Interface (VALERI) System Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act (PRA) of 1995, this notice announces that the Veterans Benefits Administration, Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden and it includes the actual data collection instrument. DATES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Refer to ‘‘OMB Control No. 2900–0021. FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise and Integration, Data Governance Analytics (008), 1717 H Street NW, Washington, DC 20006, (202) 266–4688 or email maribel.aponte@va.gov. Please refer to ‘‘OMB Control No. 2900–0021’’ in any correspondence. SUPPLEMENTARY INFORMATION: Authority: 38 CFR 36.4338(a) Title: VA LOAN ELECTRONIC REPORTING INTERFACE (VALERI) SYSTEM. OMB Control Number: 2900–0021. SUMMARY: 33.9%, which is a benefit multiplier of 1.339. Therefore, a fully-loaded wage rate for insurance employees is $52.25, or $39.02 × 1.339. E:\FR\FM\18NON1.SGM 18NON1 64604 Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices khammond on DSKJM1Z7X2PROD with NOTICES Type of Review: Extension of approved information collection. Abstract: VA is submitting a regular extension for an already approved collection. VA provides the authority for VA-guaranteed mortgage servicers to assist Veteran borrowers and their families experiencing financial difficulty. VA then provides oversight of the servicers’ actions by collecting specific documentation and data. In today’s environment, this collection is done via the VALERI application. VA submitted an emergency information collection request, which was approved to January 31, 2022, to account for data collection requirements VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 associated with the COVID–19 Refund Modification. Much like VA’s temporary COVID–19 Veterans Assistance Partial Claim Payment program (COVID– VAPCP), servicers who offer the COVID–19 Refund Modification are required to report information related to selecting this home retention option to VA electronically. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid OMB control number. The Federal Register Notice with a 60-day comment period soliciting comments on this collection of information was published at 86 FR PO 00000 Frm 00160 Fmt 4703 Sfmt 9990 51226 on September 14, 2021, pages 51226 and 51227. Affected Public: Individuals or Households. Estimated Annual Burden: 70 hours. Estimated Average Burden per Respondent: 1 minute. Frequency of Response: One time. Estimated Number of Respondents: 967. By direction of the Secretary. Maribel Aponte, VA PRA Clearance Officer, Office of Enterprise and Integration, Data Governance Analytics, Department of Veterans Affairs. [FR Doc. 2021–25197 Filed 11–17–21; 8:45 am] BILLING CODE 8320–01–P E:\FR\FM\18NON1.SGM 18NON1

Agencies

[Federal Register Volume 86, Number 220 (Thursday, November 18, 2021)]
[Notices]
[Pages 64603-64604]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25197]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0021]


Agency Information Collection Activity: VA Loan Electronic 
Reporting Interface (VALERI) System

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995, 
this notice announces that the Veterans Benefits Administration, 
Department of Veterans Affairs, will submit the collection of 
information abstracted below to the Office of Management and Budget 
(OMB) for review and comment. The PRA submission describes the nature 
of the information collection and its expected cost and burden and it 
includes the actual data collection instrument.

DATES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Refer to 
``OMB Control No. 2900-0021.

FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise 
and Integration, Data Governance Analytics (008), 1717 H Street NW, 
Washington, DC 20006, (202) 266-4688 or email [email protected]. 
Please refer to ``OMB Control No. 2900-0021'' in any correspondence.

SUPPLEMENTARY INFORMATION: 
    Authority: 38 CFR 36.4338(a)
    Title: VA LOAN ELECTRONIC REPORTING INTERFACE (VALERI) SYSTEM.
    OMB Control Number: 2900-0021.

[[Page 64604]]

    Type of Review: Extension of approved information collection.
    Abstract: VA is submitting a regular extension for an already 
approved collection. VA provides the authority for VA-guaranteed 
mortgage servicers to assist Veteran borrowers and their families 
experiencing financial difficulty. VA then provides oversight of the 
servicers' actions by collecting specific documentation and data. In 
today's environment, this collection is done via the VALERI 
application.
    VA submitted an emergency information collection request, which was 
approved to January 31, 2022, to account for data collection 
requirements associated with the COVID-19 Refund Modification. Much 
like VA's temporary COVID-19 Veterans Assistance Partial Claim Payment 
program (COVID-VAPCP), servicers who offer the COVID-19 Refund 
Modification are required to report information related to selecting 
this home retention option to VA electronically.
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid OMB control number. The Federal Register Notice with a 
60-day comment period soliciting comments on this collection of 
information was published at 86 FR 51226 on September 14, 2021, pages 
51226 and 51227.
    Affected Public: Individuals or Households.
    Estimated Annual Burden: 70 hours.
    Estimated Average Burden per Respondent: 1 minute.
    Frequency of Response: One time.
    Estimated Number of Respondents: 967.

    By direction of the Secretary.
Maribel Aponte,
VA PRA Clearance Officer, Office of Enterprise and Integration, Data 
Governance Analytics, Department of Veterans Affairs.
[FR Doc. 2021-25197 Filed 11-17-21; 8:45 am]
BILLING CODE 8320-01-P
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