Notice2024-20320
Agency Information Collection Activity: Industry Standard Forms for Completing an Appraisal Required by VA
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 10, 2024
Issuing agencies
Veterans Affairs Department
Abstract
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) of 1995, Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of a currently approved collection, and allow 60 days for public comment in response to the notice.
Full Text
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<title>Federal Register, Volume 89 Issue 175 (Tuesday, September 10, 2024)</title>
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[Federal Register Volume 89, Number 175 (Tuesday, September 10, 2024)]
[Notices]
[Page 73508]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-20320]
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DEPARTMENT OF VETERANS AFFAIRS
[OMB Control No. 2900-0890]
Agency Information Collection Activity: Industry Standard Forms
for Completing an Appraisal Required by VA
AGENCY: Veterans Benefits Administration, Department of Veterans
Affairs.
ACTION: Notice.
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SUMMARY: 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) of 1995, Federal agencies are required to
publish notice in the Federal Register concerning each proposed
collection of information, including each proposed extension of a
currently approved collection, and allow 60 days for public comment in
response to the notice.
DATES: Written comments and recommendations on the proposed collection
of information should be received on or before November 12, 2024.
ADDRESSES: Comments must be submitted through <a href="http://www.regulations.gov">www.regulations.gov</a>.
FOR FURTHER INFORMATION CONTACT: Program-Specific information: Nancy J.
Kessinger, 202-632-8924, <a href="/cdn-cgi/l/email-protection#bef0dfd0ddc790f5dbcdcdd7d0d9dbccfec8df90d9d1c8"><span class="__cf_email__" data-cfemail="d09eb1beb3a9fe9bb5a3a3b9beb7b5a290a6b1feb7bfa6">[email protected]</span></a>.
VA PRA information: Maribel Aponte, 202-461-8900,
<a href="/cdn-cgi/l/email-protection#1f697e7c706f7e6f7a6d68706d746d7a7b6a7e7c6b5f697e31787069"><span class="__cf_email__" data-cfemail="b1c7d0d2dec1d0c1d4c3c6dec3dac3d4d5c4d0d2c5f1c7d09fd6dec7">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: Under the PRA of 1995, 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: Industry Standard Forms for Completing an Appraisal Required
by VA (FNMA Forms 1004, 1004C, 1025, 2055 and 1075).
OMB Control Number: 2900-0890.
Type of Review: Extension of a currently approved collection.
Abstract: This information collection package seeks approval of
VA's requirement that appraisers utilize certain industry-standard
forms in completing an appraisal. 38 U.S.C. 3731 authorizes the VA
Secretary to establish a panel of appraisers, prescribe qualifications
for such appraisers, and determine reasonable value of a property,
construction, repairs or alterations based on an appraisal report
provided by a panel appraiser for the purpose of guaranteeing a loan.
VA is requesting approval to authorize collection of these forms
because accurate and thorough appraisal reporting is critical to the
accuracy of underwriting for the mortgage process. Additionally, VA is
looking to expand the list of authorized forms for use due to ongoing
needs related to the pandemic. This collection of information provides
a more thorough and complete appraisal of prospective VA-guaranteed
properties ensuring that mortgages are acceptable for VA guarantee and
thereby protect the interest of VA, taxpayers, and the Veterans Housing
Benefit Program Fund. Policies and procedures for governing the VA
appraisal program are set forth in chapter 36, title 38 of the CFR.
Affected Public: Individuals or Households.
Estimated Annual Burden: 10,833.
Estimated Average Burden Per Respondent: 1 minute.
Frequency of Response: One time.
Estimated Number of Respondents: 650,000.
Authority: 44 U.S.C. 3501 et seq.
Maribel Aponte,
VA PRA Clearance Officer, Office of Enterprise and Integration/Data
Governance Analytics, Department of Veterans Affairs.
[FR Doc. 2024-20320 Filed 9-9-24; 8:45 am]
BILLING CODE 8320-01-P
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