N.Y. Comp. Codes R. & Regs. tit. 3, § 120.3 – Review of applications.

(a) The superintendent will consider the factors set forth in section 28-bb of the Banking Law and the performance tests and standards set forth in section 120.6 of this Part in assessing a mortgage banker’s record of performance in meeting the credit needs of its community.
(b) When taking any action on any application made by a mortgage banker, including an application to open and maintain a branch office made pursuant to section 591 of the banking law and a change of control application made pursuant to section 594-b of the Banking Law, the superintendent shall take into account, among other factors, such assessment of the mortgage banker’s record of performance, if any, as set forth in this Part, in helping to meet the credit needs of its entire community, including low and moderate income neighborhoods and consistent with safe and sound operation of the mortgage banker.
(c) The superintendent may deny any such application on the basis of the assessment. Furthermore, the superintendent may condition the approval of any application as the facts and circumstances warrant.