VA Financial Statement Information Collection Under OMB Review
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This notice seeks approval to continue and revise the VA’s use of a financial statement form. The form helps the VA review a borrower’s finances when trying to reinstate a seriously defaulted VA-backed or VA-held loan. It also helps assess whether a veteran or service member can financially manage a home supported by a Specially Adapted Housing Grant. The main practical change is a higher estimated workload: the VA now expects 1,200 respondents a year, up from 29, because it is counting telephone-based information collected by VA loan staff more accurately. Each response is expected to take about 45 minutes. Comments are due by June 3, 2026.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Continues and revises the VA financial statement information collection tied to defaulted VA loans and Specially Adapted Housing Grants
- Raises the estimated annual number of respondents from 29 to 1,200 due to better counting of telephone information collected by VA loan staff
- Sets an estimated burden of 45 minutes per response and 900 total annual hours
Obligations
What this law requires
Do not conduct or sponsor the VA Form 26-6807 financial statement information collection unless the collection displays a currently valid OMB control number.