The Department of Veterans Affairs' Loan Guaranty Service is seeking approval from the Office of Management and Budget (OMB) for a data collection activity under the Paperwork Reduction Act (PRA) of 1995. This request concerns the "Lender's Staff Appraisal Reviewer (SAR) Application," which relates to determining the value of properties for automatically guaranteed loans. The notice invites public comments on this collection process within 30 days. Additional details include an estimated annual burden of 2 hours and an average response time of 5 minutes per respondent.
Simple Explanation
The Veterans Affairs Department wants permission to gather some information by having people fill out a special form that helps them figure out how much a house is worth, but the plan confuses people because it talks about tricky things without explaining them. Some think it might be too much work or cost money for something small, and they're not sure why this form is important.