The Veterans Benefits Administration of the Department of Veterans Affairs is proposing a renewal of its information collection known as the Lender's Staff Appraisal Reviewer (SAR) Application. This renewal is in accordance with the Paperwork Reduction Act and will be reviewed by the Office of Management and Budget. The proposed information collection is aimed at establishing standards for lenders to determine the value of properties under the VA's Lender Appraisal Processing Program. Individuals involved in this process should submit their comments within 30 days, and it is estimated that this will affect approximately 2,400 respondents per year, with each response taking about 5 minutes.
Simple Explanation
The Veterans Benefits Administration wants people to fill out a form to help decide how much houses are worth. This form is part of their work to help veterans, and they want to make sure they're doing it the best way while considering people's time when they fill it out.