Skip to Content

Notice

Information Collection; Direct Loan Servicing-Regular

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble

AGENCY:

Farm Service Agency, USDA.

ACTION:

Notice; request for comments.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995, the Farm Service Agency (FSA) is seeking comments from all interested individuals and organizations on the extension with a revision of a currently approved information collection that supports Direct Loan Servicing-Regular programs. The information is used to determine borrower compliance with loan agreements, assist the borrower in achieving business goals, and regular servicing of the loan account such as graduation, subordination, partial release, and use of proceeds.

DATES:

We will consider comments that we receive by July 2, 2010.

ADDRESSES:

We invite you to submit comments on this notice. In your comments, include date, volume, and page number, and the OMB control number and the title of the information collection of this issue of the Federal Register. You may submit comments by any of the following methods:

  • Mail: J. Lee Nault, Loan Specialist, USDA/FSA/FLP, STOP 0523, 1400 Independence Avenue, SW., Washington, DC 20250-0503.
  • E-mail: lee.nault@wdc.usda.gov.
  • Fax: 202-690-0949.

You may also send comments to the Desk Officer for Agriculture, Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503. Copies of the information collection may be requested by contacting J. Lee Nault at the above address.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

J. Lee Nault, Loan Specialist, Farm Service Agency, (202) 720-6834.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Title: (7 CFR part 765) Farm Loan Programs—Direct Loan Servicing—Regular.

OMB Number: 0560-0236.

Expiration Date: 11/30/2010.

Type of Request: Extension of a currently approved information collection. Start Printed Page 23219

Abstract: FSA's Farm Loan Programs provide loans to family farmers to purchase real estate and equipment, and finance agricultural production. Direct Loan Servicing—Regular, as specified in 7 CFR part 765, provides the requirements related to routine servicing actions associated with direct loans. FSA is required to actively supervise its borrowers and provide credit counseling, management advice and financial guidance. Additionally, FSA must document that credit is not available to the borrower from commercial credit sources in order to maintain eligibility for assistance. Information collections established in the regulation are necessary for FSA to monitor and account for loan security, including proceeds derived from the sale of security, and to process a borrower's request for subordination or partial release of security. Borrowers are required to provide financial information to determine graduation eligibility based on commercial lender standards provided to FSA.

Respondents: Individuals or households, businesses or other for profit farms.

Estimated Annual Number of Respondents: 52,288.

Estimated Number of Responses per Respondent: 2.10.

Total Annual Responses: 110,121.

Estimated Total Annual Burden Hours: 60,877.

We are requesting comments on all aspects of this information collection and to help us to:

(1) Evaluate whether the collection of information is necessary for the proper performance of the functions of FSA, including whether the information will have practical utility;

(2) Evaluate the accuracy of FSA's estimate of burden including the validity of the methodology and assumptions used;

(3) Enhance the quality, utility and clarity of the information to be collected;

(4) 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.

All comments received in response to this notice, including names and addresses when provided, will be a matter of public record. Comments will be summarized and included in the submission for Office of Management and Budget approval.

Start Signature

Signed at Washington, DC, on April 20, 2010.

Jonathan W. Coppess,

Administrator, Farm Service Agency.

End Signature End Supplemental Information

[FR Doc. 2010-10192 Filed 4-30-10; 8:45 am]

BILLING CODE 3410-05-P