N.Y. Banking Law § 6-d

§ 6-d. Requirement to state in writing reason for denial of mortgage\nloan. Every banking organization and licensed mortgage banker which\noriginates mortgage loans secured by real property located within New\nYork state which denies an application for such a loan or makes its\napproval of such a loan conditional upon the applicant's agreement to\nterms substantially different than those included in or contemplated by\nthe submitted application shall be required to notify, in writing, any\nperson or agent who returns a substantially completed written mortgage\nloan application form of the reasons for the denial or conditioned\napproval.\n