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Federal forms, ICRs, and supporting documents

Information Collection Request

Credit Underwriting Standards and Procedures for Processing VA Guaranteed Loans (26-1820, 26-8497 & 26-8497a)

ICR 201307-2900-009 · OMB 2900-0521 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Form 26-1820 Credit Underwriting Standards and Procedures for Processing VA Guaranteed Loans (26-1820, 26-8497 & 26-8497a) Form Modified Available
30-day FRN(2900-0521).pdf Supplementary Document Uploaded 2014-02-12 Available
2900-0521 (60-day FRN).pdf Supplementary Document Uploaded 2014-01-09 Available
2900-0521 VAF 26-1820,8497,8497a.doc Supporting Statement A Uploaded 2014-07-03 Available
IC Document Collections
IC IDCollectionTypeStatusForm
28706 Credit Underwriting Standards and Procedures for Processing VA Guaranteed Loans (26-1820, 26-8497 & 26-8497a) Form Modified
ICR Details
2900-0521 201307-2900-009
Historical Active 201009-2900-004
VA 2900-0521 VBA-LGY-DB
Credit Underwriting Standards and Procedures for Processing VA Guaranteed Loans (26-1820, 26-8497 & 26-8497a)
Revision of a currently approved collection   No
Regular
Approved with change 07/14/2014
Retrieve Notice of Action (NOA) 03/21/2014
  Inventory as of this Action Requested Previously Approved
07/31/2017 36 Months From Approved 07/31/2014
900,000 0 600,000
187,500 0 112,500
4,140 0 0
VA has set forth at 38 CFR 36.4340 credit standards to be used by lenders in underwriting VA guaranteed loans. The standards require lenders to collect certain specific information concerning the veteran and the veteran's credit history.
US Code: 38 USC 3710 Name of Law: Housing and Small Business Loans
   US Code: 38 USC 3702(c) Name of Law: Basic entitlement
  
None
Not associated with rulemaking
  78 FR 190 10/01/2013
79 FR 25 02/06/2014
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 900,000 600,000 0 0 300,000 0
Annual Time Burden (Hours) 187,500 112,500 0 0 75,000 0
Annual Cost Burden (Dollars) 4,140 0 0 0 4,140 0
No
No
The change in burden is due to the increase in VA-guaranteed home loans and each loan package includes a VA Form 26-1820. There is no change in the burden for VA Forms 26-8497 or 26-8497a, as VA does not require lenders to exclusively use these form to provide these verifications, and no change has been identified in use.
$5,107,500
No
No
No
No
No
Uncollected
Crystal Rennie 202 632-7492 [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.
03/21/2014