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[Federal Register Volume 89, Number 222 (Monday, November 18, 2024)]
[Notices]
[Pages 90832-90833]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26803]

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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0890]

Agency Information Collection Activity Under OMB Review: 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: In compliance with the Paperwork Reduction Act (PRA) of 1995, 
this notice announces that the Veterans Benefits Administration, 
Department of Veterans Affairs, will submit the collection of 
information abstracted below to the Office of Management and Budget 
(OMB) for review and comment. The PRA submission describes the nature 
of the information collection and its expected cost and burden and it 
includes the actual data collection instrument.

DATES: Comments and recommendations for the proposed information 
collection should be sent by December 18, 2024.

ADDRESSES: To submit comments and recommendations for the proposed 
information collection, please type the following link into your 
browser: www.reginfo.gov/public/do/PRAMain, select ``Currently under 
Review--Open for Public Comments'', then search the list for the 
information collection by Title or ``OMB Control No. 2900-0890.''

SUPPLEMENTARY INFORMATION: 
    Title: Industry Standard Forms for Completing an Appraisal Required 
by VA FNMA Forms 1004, 1004C, 1004D, 1004 (Desktop), 1025, 1073, 1075 
and 2055
    OMB Control Number: 2900-0890.
    Type of Review: Extension without change 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.

[[Page 90833]]

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.
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid OMB control number.
    The Federal Register Notice with a 60-day comment period soliciting 
comments on this collection of information was published at 89 FR 
73508, September 10, 2024.
    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. 2024-26803 Filed 11-15-24; 8:45 am]
BILLING CODE 8320-01-P
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