[Federal Register Volume 63, Number 18 (Wednesday, January 28, 1998)]
[Notices]
[Pages 4215-4217]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-2054]


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DEPARTMENT OF AGRICULTURE

Farm Service Agency
Rural Housing Service
Rural Business-Cooperative Service


Notice of Request for Extension of Currently Approved Information 
Collection

AGENCIES: Farm Service Agency, Rural Housing Service, and Rural 
Business-Cooperative Service, USDA.

ACTION: Proposed Collection; comments request.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces the intent of the Farm Service Agency (FSA), Rural 
Housing Service (RHS), and the Rural Business-Cooperative Service (RBS) 
to request an extension of currently approved information collections 
for four regulations and a form used in support of the FSA Farm Loan 
Program (FLP) (formerly Farmer Programs of the Farmers Home 
Administration (FmHA)), two regulations used in support of the RHS 
Multi-family Housing (MFH) and Community Facilities (CF) loan programs, 
and one regulation used in support of the RBS Direct Business and 
Industry loan program. These rules do not involve the loans of the 
Commodity Credit Corporation (CCC) administered by FSA or the Single 
Family Housing (SFH) loans of RHS. This renewal does not involve any 
revisions to the program rules.

DATES: Comments on this notice must be received on or before March 30, 
1998 to be assured consideration.

FOR FURTHER INFORMATION CONTACT: For additional information contact 
Phillip Elder, Senior Loan Officer, USDA, Farm Service Agency, Farm 
Loan Programs, Loan Servicing Division, 1400 Independence Avenue, SW., 
STOP 0523, Washington, DC 20013-0523; Telephone (202) 690-4012; 
Electronic mail: <a href="/cdn-cgi/l/email-protection#2f5f4a434b4a5d6f584b4c01495c4e015a5c4b4e01484059"><span class="__cf_email__" data-cfemail="6c1c090008091e2c1b080f420a1f0d42191f080d420b031a">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION:
    Title: Form FmHA 1962-1, Agreement for the Use of Proceeds/Release 
of Chattel Security.
    OMB Control Number: 0560-0171.
    Expiration Date of Approval: March 31, 1998.
    Type of Request: Extension of Currently Approved Information 
Collection.
    Abstract: The collection of information on Form FmHA 1962-1 is 
required by a consent decree executed in relation to Coleman V. Block, 
663 F. Supp 1315 (D.N.D. 1987). The former Farmers Home Administration 
(FmHA) agreed in the consent decree to approve a borrower's planned use 
of proceeds from the disposition of their chattel security, record any 
changes to planned use, and record the actual disposition of chattel 
security for the year of operation. Also, this form is needed to 
implement Section 335(f) of the Consolidated Farm and Rural Development 
Act (Act) (7 U.S.C. 1985(f)), which requires release of normal income 
security to pay essential household and farm operating expenses of the 
borrower, until the Agency accelerates the loan. Form FmHA 1962-1 
provides a uniform method for local Agency loan officers to approve 
these actions.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 20 minutes per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.
    Estimated Number of Respondents: 56,075.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 18,505 hours.
    Title: 7 CFR 1806-A, Real Property Insurance.
    OMB Control Number: 0575-0087.
    Expiration Date: March 31, 1998.
    Type of Request: Extension of Currently Approved Information 
Collection.
    Abstract: This regulation is currently shared by FSA and the MFH 
programs of RHS. This regulation governs the servicing of property 
insurance on buildings and land securing the interest of RHS or FSA in 
connection with an FSA FLP Loan or RHS MFH loan. This regulation does 
not apply to the CF and SFH programs of RHS. The information 
collections pertain primarily to the verification of insurance on 
property securing Agency loans. This information collection is 
submitted by FSA or RHS borrowers to Agency offices. It is necessary to 
protect the government from losses due to weather, natural disasters, 
or fire and ensure that the Act's loan making requirements of hazard 
insurance are met by loan applicants. See Secs. 303(c), 312(c), and 
321(b) of the Act.
    Estimate of Burden: Public reporting burden for this collection of 
information

[[Page 4216]]

is estimated to average 29 minutes per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.
    Estimated Number of Respondents: 20,391.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 9,944 hours.
    Title: 7 CFR 1951-L, Servicing Cases Where Unauthorized Loan or 
Other Assistance Was Received.
    OMB Control Number: 0560-0160.
    Expiration Date: March 31, 1998.
    Type of Request: Extension of Currently Approved Information 
Collection.
    Abstract: FSA encounters cases where unauthorized assistance was 
received by a borrower. This assistance may be a loan where the 
recipient did not meet the eligibility requirements set forth in 
statute or program regulations, or both, or where the borrower 
qualified for loan assistance but a lower subsidized interest rate was 
charged on the loan, resulting in the borrower's receipt of 
unauthorized interest subsidy benefits. The unauthorized assistance may 
also be in the form of loan servicing where a borrower received an 
excessive write-down or write-off of their debt. The information 
collected under this regulation is provided on a voluntary basis by the 
borrower, although failure to cooperate to correct loan accounts may 
result in liquidation of the loan. The information to be collected will 
primarily be financial data such as amount of income, farm operating 
expenses, depreciation, crop yields, etc.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 4 hours per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.
    Estimated Number of Respondents: 105.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 420 hours.
    Title: 7 CFR 1965-A, ``Servicing of Real Estate Security for Farmer 
Program Loans and Certain Note-Only Cases.''
    OMB Control Number: 0560-0158.
    Expiration Date: March 31, 1998.
    Type of Request: Extension of Currently Approved Information 
Collection.
    Abstract: This regulation promulgates provisions of sections 331 
and 335 of the Act (7 U.S.C. Secs. 1981 and 1985). Section 331, of the 
Act, in part, authorizes the Secretary of Agriculture to modify, 
subordinate and release terms of security instruments, leases, 
contracts, and agreements entered into by FSA. That section also 
authorizes transfers of security property as the Secretary deems 
necessary to carry out the purpose of the loan or protect the 
Government's financial interest. Section 335 of the Act provides 
servicing authority for real estate security; operation or lease of 
realty, disposition of property; conveyance of real property interest 
of the United States; easements; and condemnations. The information 
collection required by this subpart relates to a program benefit 
recipient or loan borrower requesting action on security which they 
own, which was purchased with FSA loan funds, improved with FSA loan 
funds or has otherwise been mortgaged to the Agency to secure a 
government loan. The information to be collected will primarily be 
financial data not already on file, such as borrower asset values.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average .42 hours per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.
    Estimated Number of Respondents: 15,263.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 6,465 hours.
    Title: 7 CFR part 1951, subpart F--Analyzing Credit Needs and 
Graduation of Borrowers.
    OMB Control Number: 0575-0093.
    Expiration Date: March 31, 1998.
    Type of Request: Extension of Currently Approved Information 
Collection.
    Abstract: This regulation is currently shared by FSA, RHS, and RBS. 
Section 333 of the Act and Sec. 502 of the Housing Act of 1949, as 
amended, require the Agencies to graduate their direct loan borrowers 
to other credit when they are able to do so. Graduation is an integral 
part of Agency lending, as Government loans are not meant to be 
extended beyond a borrower's need for subsidized rates or non-market 
terms. The notes, security instruments, or loan agreements of most 
borrowers require borrowers to refinance their Agency loans when other 
credit becomes available at reasonable rates and terms. If a borrower 
finds other credit is not available at reasonable rates and terms, the 
Agency will continue to review the borrower for possible graduation at 
periodic intervals. Also, Sec. 333A(f) of the Act (7 U.S.C. 1983a(f)) 
requires the Agency to provide a financial prospectus to lenders who 
may be interested in providing guaranteed and non-guaranteed credit to 
the FSA's direct farm loan borrowers. The information to be collected 
to carry out these mandates will primarily be financial data such as 
amount of income, farm operating expenses, asset values, and 
liabilities.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 2.85 hours per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.
    Estimated Number of Respondents: 69,781.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 199,020.
    Title: 7 CFR part 1941, Subpart A--Operating Loan Policies, 
Procedures and Authorizations.
    OMB Control Number: 0560-0162.
    Expiration Date: March 31, 1998.
    Type of Request: Extension of Currently Approved Information 
Collection.
    Abstract: Section 311 of the Act (7 U.S.C. 1941) requires that an 
applicant for an FSA farm operating loan be a citizen of the United 
States, possess the legal capacity to incur the loan obligation, have 
training and experience sufficient to assure reasonable prospects of 
success in the proposed farm operation, be an operator of not larger 
than a family farm, be unable to obtain sufficient credit elsewhere, 
and not have received a direct operating loan in 6 or fewer years. 
Section 373 of the Act also generally prohibits the Secretary from 
making or guaranteeing a farm loan to a borrower who has received debt 
forgiveness on such a loan. The Debt Collection Improvement Act (31 
U.S.C. Sec. 3720B(a)) further generally precludes an agency from making 
a loan to a borrower who to a person who is delinquent on any Federal 
debt. Also, FSA loan approval officials must determine that adequate 
security and repayment ability for the loan are available, and that 
funds are used only for those purposes authorized by law. Reporting 
requirements to ensure compliance with these eligibility requirements 
are imposed on the public by regulations set out in 7 CFR part 1941, 
subpart A.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average .21 hours per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.

[[Page 4217]]

    Estimated Number of Respondents: 56,170.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 11,673 hours.

Comments

    The Agencies are soliciting comments on the burden of all of the 
above subparts regarding: (a) Whether the collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility; (b) the 
accuracy of the agency's estimate of burden including the validity of 
the methodology and assumptions used; (c) ways to enhance the quality, 
utility and clarity of the information to be collected; (d) ways to 
minimize the burden of the collection of information on those who are 
to respond, including through the use of appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology. These comments should be sent to 
Phillip Elder, Senior Loan Officer, USDA, FSA, Farm Loan Programs, Loan 
Servicing Division, 1400 Independence Avenue, SW., STOP 0523, 
Washington, DC 20250-0523.
    Copies of the information collections may be obtained from Mr. 
Elder at the above address. Comments regarding paperwork burden will be 
summarized and included in the request for OMB approval of the 
information collection. All comments will also become a matter of 
public record.

    Signed in Washington, DC, on January 20, 1998.
Bruce R. Weber,
Acting Administrator, Farm Service Agency.
Jan E. Shadburn,
Administrator, Rural Housing Service.
Dayton J. Watkins,
Administrator, Rural Business--Cooperative Service.
[FR Doc. 98-2054 Filed 1-27-98; 8:45 am]
BILLING CODE 3410-XV-U


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