Reporting Refinance/Cash-Out Refinance for HMDA

Within Reg C "Purpose-refinancing and cash-out refinancing" Section 1003.4(a)(3) required a financial institution to report whether a covered loan is, or an application is for, a refinancing or a cash-out refinancing. A financial institution reports a covered loan or an application as a cash-out refinancing if it is a refinancing as defined by 1003.2(p) and the institution considered it to be a cash-out refinancing in processing the application or setting the terms (such as the interest rate or origination charges) under its guidelines or an investor's guidelines.

Reg C then goes on to give examples of cash-out refinancings and refinancings.

Diving more into the investor guidelines, does Conventional FHLB 125 constitute reporting for HMDA purposes refinance or cash-out refinance if there are no pricing adjustments, only underwriting is different than limited cash-out? Ex. LTV threshold being slightly different

With VA investor guidelines, IRRR would be reported as refinance, but would all others be reported as cash-out?

Can anybody give any guidance on reporting cash-out versus refinance for these two investor types?

If the underwriting is different, than you are treating cash-out refinancing different from (non cash-out) refinancings. You are considering it to be a cash-out refinancing.