Loan Analysis

OMB Control No: 2900-0523	ICR Reference No: 200909-2900-005
Status: Historical Active	Previous ICR Reference No: 200701-2900-001
Agency/Subagency: VA	Agency Tracking No: 2900-0523
Title: Loan Analysis
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/01/2010
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/09/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2013	36 Months From Approved	02/28/2010
Responses	200,000	0	125,000
Time Burden (Hours)	50,000	0	62,500
Cost Burden (Dollars)	0	0	0

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Abstract: The form is completed by employees of lending institutions to determine the veteran-borrower's ability to qualify for a VA guaranteed loan authorized by 38 U.S.C. 3710(a). VA reviews the form to verify the lender's adherence to VA credit standards.

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Authorizing Statute(s): US Code: 38 USC Section 3710(a), (b), and (g) Name of Law: Purchase or construction of homes

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 187	09/29/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 235	12/09/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title Form No. Form Name Loan Analysis VA Form 26-6393 Loan Analysis

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ICR Summary of Burden

	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	200,000	125,000	0	0	75,000	0
Annual Time Burden (Hours)	50,000	62,500	0	0	-12,500	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The burden hours decrease based on our estimate of higher loan volume this year but a shorter response time. Due to low interest rates, loan volume is increasing. Low rates make refinancing attractive and also encourage persons wanting to purchase. The majority of lenders have automated loan origination systems which facilitate completion of the form.

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Annual Cost to Federal Government: $1,330,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Denise McLamb 202-565-8374 [email protected]

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Common Form ICR:  No

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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:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(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;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
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.
Certification Date: 12/09/2009

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