View Information Collection Request (ICR) Package

Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.

View ICR - OIRA Conclusion

OMB Control No: 2900-0111	ICR Reference No: 200707-2900-021
Status: Historical Active	Previous ICR Reference No: 200410-2900-007
Agency/Subagency: VA	Agency Tracking No: 2900-0111
Title: Statement of Purchaser or Owner Assuming Seller's Loan
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: 01/24/2008
	Date Received in OIRA: 12/18/2007
Terms of Clearance: Approved consistent with the following terms of clearance: VA will continue to work toward the development of forms that utilize electronic signatures.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2011	36 Months From Approved	01/31/2008
Responses	1,500	0	7,500
Time Burden (Hours)	375	0	1,875
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	1,500	7,500	-6,000
Annual Time Burden (Hours)	375	1,875	-1,500
Annual Cost Burden (Dollars)	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: Loan Guaranty Service is developing an initiative to modernize its supplemental servicing and claims payment functions. As a byproduct of the delegated authority and electronic reporting directed by this initiative, the paperwork burden will be dramatically reduced for servicers who serve the 2.1 million VA-guaranteed home loans. This initiative will change the reporting of delinquent loans and submission of claims from a paper-based system to a completely electronic system, allow servicers to take many actions that previously would have required filling out OMB-approved forms for VA approval, and eliminate reporting to VA of certain events.

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