[Federal Register Volume 82, Number 43 (Tuesday, March 7, 2017)]
[Notices]
[Pages 12919-12920]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-04347]
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DEPARTMENT OF VETERANS AFFAIRS
[OMB Control No. 2900-0474]
Agency Information Collection Activity: Create Payment Request
for the VA Funding Fee Payment System (VA Form 26-8986)
AGENCY: Veterans Benefits Administration, Department of Veterans
Affairs.
ACTION: Notice.
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SUMMARY: The Veterans Benefits Administration (VBA), Department of
Veterans Affairs (VA), is announcing an opportunity for public comment
on the proposed collection of certain information by the agency. Under
the Paperwork Reduction Act (PRA) or 1995, Federal agencies are
required to publish notice in the Federal Register concerning each
proposed collection of information, including each proposed extension,
of a previously approved collection for which approval has expired, and
allow 60 days for public comment in response to the notice.
This notice solicits comments on information needed to exempt a
veteran from paying a funding fee.
DATES: Written comments and recommendations on the proposed collection
of information should be received on or before May 8, 2017.
ADDRESSES: Submit written comments on the collection of information
through Federal Docket Management System (FDMS) at www.Regulations.gov
or to Nancy J. Kessinger, Veterans Benefits Administration (20M33),
Department of Veterans Affairs, 810 Vermont Avenue NW., Washington, DC
20420 or email to [email protected]. Please refer to ``OMB Control
No. 2900-0474'' in any correspondence. During the comment period,
comments may be viewed online through the FDMS.
FOR FURTHER INFORMATION CONTACT: Nancy J. Kessinger at (202) 632-8924
or FAX (202) 632-8925.
SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Public Law 104-13; 44
U.S.C. 3501-21), Federal agencies must obtain approval from the Office
of Management and Budget (OMB) for each collection of information they
conduct or sponsor. This request for comment is being made pursuant to
Section 3506(c)(2)(A) of the PRA.
With respect to the following collection of information, VBA
invites comments on: (1) Whether the proposed collection of information
is necessary for the proper performance of VBA's functions, including
whether the information will have practical utility; (2) the accuracy
of VBA's estimate of the burden of the proposed collection of
information; (3) ways to enhance the quality, utility, and clarity of
the information to be collected; and (4) ways to minimize the burden of
the collection of information on respondents, including through the use
of automated collection techniques or the use of other forms of
information technology.
Title: Create Payment Request for the VA Funding Fee Payment System
(VA Form 26-8986).
OMB Control Number: 2900-0474.
Type of Review: Revision of an approved collection.
Abstract: A funding fee must be paid to VA before a loan can be
guaranteed. The funding fee is payable on all VA-guaranteed loans,
i.e., Assumptions, Manufactured Housing, Refinances, and Real Estate
purchase and construction loans. The funding fee is not required from
veterans in receipt of compensation for service connected disability or
veterans in receipt of
[[Page 12920]]
compensation for service connected disability of veterans who, but for
receipt of retirement pay, would be entitled to receive compensation
for their service connected disability. Loans made to the unmarried
surviving spouses of veterans (who have died in service or from service
connected disability) are exempted from payment of the funding fee,
regardless of whether the spouse has his/her own eligibility, provided
that the spouse has used his/her eligibility to obtain a VA-guaranteed
loan. For a loan to be eligible for guaranty, lender's must provide a
copy of the Funding Fee Receipt or evidence the veteran is exempt from
the requirement of paying the funding fee. The receipt is computer
generated and mailed to the lender ID number address that was entered
into an Automated Clearing House (ACH) service.
Affected Public: Business or other for profit.
Estimated Annual Burden: 13,334 hours.
Estimated Average Burden Per Respondent: 2 minutes.
Frequency of Response: One time.
Estimated Number of Respondents: 400,000.
By direction of the Secretary.
Cynthia Harvey-Pryor,
Department Clearance Officer, Office of Privacy and Records Management,
Department of Veterans Affairs.
[FR Doc. 2017-04347 Filed 3-6-17; 8:45 am]
BILLING CODE 8320-01-P