In accordance with 5 CFR 1320, the information collection is approved for three years.
Inventory as of this Action
Requested
Previously Approved
12/31/2027
36 Months From Approved
12/31/2024
205
0
163
1,265
0
1,005
0
0
0
The purpose of the debt settlement function is to provide the delinquent client with an equitable tool for the compromise, adjustment, cancellation or charge-off of a debt owed to the Agency. Failure to collect information could result in improper servicing of these loans.
This submission includes an adjustment in the number of responses and burden hours for Rural Business-Cooperative Service (RBCS). During the time used to estimate the burden hours, RBCS had less applicants in 1951-C than in previous years, due to the lack of B&I direct loan funding and servicing need for other intermediary loan programs. As a result, the number of burden hours for RBCS was decreased from 928 to 415, and the number of responses was decreased from 97 to 89.
The Community Facilities (CF) program is reporting an increase in the number of responses and burden hour. This increase is due to the programâs efforts to undertaking the resolution of longtime delinquencies from its portfolio. To accomplish this task, 4 Asset Risk Managers were dispensed to work with State Office staff to review and resolve accounts that had been delinquent for several years. This effort resulted in the increased number of CF responses from 46 to 116, and the number of burden hours from 62 to 850. The overall combined number of responses reported for RBCS, and CF include the estimated 2 hours it takes an applicant to gather the information and input it in SAMs which resulted in a combined total of 205 responses, and 1,265 burden hours.
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.