Federal Register #OMB Control No. 2900-0110

Request for Public Comment on VA Home Loan Assumption Approval and Liability Release Information Collection

This opportunity is a request for public comment from the Veterans Benefits Administration (VBA), part of the Department of Veterans Affairs (VA), regarding an information collection process for home loan assumption approval and liability release. - Government Buyer: - Department of Veterans Affairs (VA) - Veterans Benefits Administration (VBA) - Purpose: - Seeking feedback on the use of VA Form 26-6381 for veterans applying for approval to transfer their home loan by assumption or to be released from personal liability to the government. - The information collected is used to determine eligibility for assumption approval, release of liability, and substitution of entitlement under relevant U.S. Code sections. - Respondent Details: - Estimated 5,000 respondents annually - Estimated total burden of 835 hours - No OEMs or vendors are involved, as this is not a procurement of products or services. - Notable Requirements: - Focused on information collection for regulatory compliance and processing of veteran home loan transactions - Notice issued under OMB Control No. 2900-0110

Description

The Veterans Benefits Administration (VBA) of the Department of Veterans Affairs (VA) is seeking public comment on the proposed collection of information related to the application for assumption approval and/or release from personal liability on a home loan. This collection involves VA Form 26-6381, which is used by veterans selling their homes by assumption rather than requiring purchasers to obtain their own financing. The information collected is essential for determinations regarding assumption approval, release of liability, and substitution of entitlement under relevant U.S. Code sections. The estimated number of respondents is 5,000 annually, with an estimated burden of 835 hours.

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