Loan Analysis (VA Form 26-6393)

Forms and Documents

Document Name	Status
Form 26-6393 Loan Analysis Form	Removed
Form VA Form 26-6393 Loan Analysis Form and Instruction	New
30-Day FRN (2900-0523).pdf Supplementary Document	2022-05-16
Supporting Statement - VAF 26-6393 (OMB #2900-0523) v2.rtf Supporting Statement A	2022-05-10
60-Day-2900-0523.pdf Supplementary Document	2022-03-08

IC Document Collections

IC ID	Document Title	Status
28709	Loan Analysis Form	Removed
251931	Loan Analysis Form and Instruction	New

ICR Details

OMB Control No: 2900-0523	ICR Reference No: 202203-2900-001
Status: Received in OIRA	Previous ICR Reference No: 201902-2900-010
Agency/Subagency: VA	Agency Tracking No: VBA-LGY-MS
Title: Loan Analysis (VA Form 26-6393)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/16/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2022
Responses	560,000	250,000
Time Burden (Hours)	280,000	125,000
Cost Burden (Dollars)	0	0

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Abstract: The VA Form 26-6393 is completed by employees of lending institutions to determine the veteran-borrower's ability to qualify for a VA-guaranteed loan authorized by 38 U.S.C. 3710(a). VA reviews the form to verify the lender's adherence to VA credit standards.

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Authorizing Statute(s): US Code: 38 USC Section 3710(a), (b), and (g) Name of Law: Purchase or construction of homes
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 4808	03/08/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 431	05/16/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Loan Analysis	VA Form 26-6393	Loan Analysis
Loan Analysis	26-6393	LOAN ANALYSIS

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	560,000	250,000	0	560,000	-250,000	0
Annual Time Burden (Hours)	280,000	125,000	0	280,000	-125,000	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The burden was increased due to increases in projected volume for purchase and cash-out refinance transactions. The hourly mean wage for the occupation increased slightly resulting in a marginal higher cost per response.

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Annual Cost to Federal Government: $47,292

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 06/16/2022

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