The collection is used to provide supervised credit as legislatively mandated, ensure when loan funds are used for construction, work is completed according to applicable state and local standards; ensure loan repayment plan is developed using realistic data; and develop a loan assessment.
FSA is establishing a new collection instrument to obtain information from appraisers it engages to conduct appraisals for loan servicing purposes. It is estimated that 150 appraisers will be completing FSA-2155 and it will take 10 minutes to complete it. Therefore, 25 burden hours and 150 responses have been added to this information collection renewal request.
There are fewer farmers and businesses reporting information resulting in a total adjustment decrease of -6,847 respondents; -16392 responses; and -19,669 burden hours for this submission.
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.