§ 9-F — Geographic discrimination in making mortgage loans prohibited

§ 9-f. Geographic discrimination in making mortgage loans prohibited.\n1. No banking institution as such term is defined in this section shall\nrefuse to make a prudent loan upon the security of real property or\notherwise discriminate with respect thereto because of the geographic\nlocation of such property if such property is located within the\ngeographic area ordinarily serviced by such bank or within the community\nwithin which the principal or any branch office of such banks is\nlocated. A violation of the provisions of this subdivision shall be\nsubject to the applicable provisions of sections thirty-nine and\nforty-four of this chapter.\n 2. Any person who makes application for such a loan and is refused\nsuch loan may request the superintendent to review the denial of such\napplication. If the superintendent determines that such loan was prudent\nand was denied in violation of subdivision one hereof, the\nsuperintendent shall certify such determination to the state of New York\nmortgage agency created pursuant to title seventeen of article eight of\nthe public authorities law.\n 3. For the purposes of this section, the term (a) "prudent loan" means\na loan upon the security of real property which is prudent by acceptable\nbanking standards and is in compliance with all of the provisions of\nthis chapter and rules and regulations of the superintendent of\nfinancial services; and (b) notwithstanding any other provision of this\nchapter or law to the contrary, the term banking institution when used\nin this section shall mean and include all banks, trust companies,\nsavings banks, savings and loan associations, credit unions, mortgage\nbankers, exempt organizations as defined in article twelve-D of this\nchapter and foreign banking corporations whether incorporated,\nchartered, organized or licensed under the laws of this state or any\nother state or the United States.\n 4. If any clause, sentence, paragraph, subdivision or part of this\nsection or the application thereof to any person, firm or corporation,\nor circumstance shall be adjudged by any court of competent jurisdiction\nto be invalid or unconstitutional, such judgment shall not affect,\nimpair or invalidate the remainder thereof, but shall be confined (i) in\nits operation to the clause, sentence, paragraph, subdivision, or part\nof this section, or (ii) in its application to the person, firm or\ncorporation, or circumstance, directly involved in the controversy in\nwhich such judgment shall have been rendered.\n