VA Form 26-1805, Request for Determination of Reasonable Value, and related forms 26-1803 and 26-1843 are approved for use through 8/31/84 on the condition that the VA provide to OMB by 10/31/82 verification o the lender burden of 25 minutes per transaction. The appraiser burden of 3 hours per transaction is not being recorded because the appraisal is viewed as usual and customary in the normal course of business.
Inventory as of this Action
Requested
Previously Approved
08/31/1984
08/31/1984
11/30/1982
430,000
0
585,000
179,167
0
585,000
0
0
0
VA IS REQUIRED BY 38 U.S.C. 1810(B)(5) TO DETERMINE THE REASONABLE VALUE OF PROPERTIES PROPOSED AS SECURITY FOR GUARANTEED OR DIRECT HOME LOANS AUTHORIZED BY 38 U.S.C. 1810 OR 1811, AND TO REQUIRE MINIMUM PROPERTY STANDARDS PURSUANT TO 38 U.S.C. 1804(A). THE REQUEST PROVIDES BASIC INFORMATION TO PERMIT ASSIGNMENT OF APPRAISAL AND INSPECTION OF THE PROPERTY FOR THESE PURPOSES, AS WELL AS THE APPRAISAL OF LOTS FOR LOANS AUTHORIZED BY 38 U.S.C. 1819.
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.
REQUEST FOR DETERMINATION OF REASONABLE VALUE, RESIDENTIAL APPRAISAL REPORT, CERTIFICATE OF REASONABLE VALUE