Something has seized. Check all the pulley's the belt runs around are turning freely (remove the belt to do this).
If the smoke is coming from the electric fan itself, then it needs replacing. It could be the smoke is steam that the fan is drawing from the radiator, and you have a coolant leak at the radiator.
Check for a gas leak maybe on the belt and check the belt for alignment.
because the fan belt is burning
Check the alignment of the pulleys and make sure the belt is at the right tension. One end has an adjuster on it.
depending on how low it is, it is either the fan rubbing against the casing or the belt that turns the fan coming loose.
You may have a slipping fan belt or, more likely, an oil leak into the heater core.
There is no fan belt it is an electric fan. Are you referring to the serpentine belt?
No, you shouldn't get smoke from the Power Steering. Pull the belt and check each separate pully to make sure they all turn freely.
The Villager has an electric fan and does not use a "fan belt".
A serpentine belt is one belt that runs all engine accessories (i.e. power steering pump, ac compressor, water pump, AND fan). A fan belt runs the fan only.
remove drive belt and check all pulley wheels for freedom of movement sounds like a pulley wheel is bad, probably the belt tensioner pulley
fan belt needs tightened