N.Y. Comp. Codes R. & Regs. tit. 3, § 80.10 – Revolving credit accounts.

(a) the line of credit must be in an amount of $2,500 or more;
(b) disclosure shall be provided as set forth in section 80.4 of this Part and in addition, the disclosure shall include a statement to the effect that the cost of title insurance and mortgage recording tax shall be based on the maximum amount of the credit line available to the borrower, whether advanced or not;
(c) with each monthly statement, the lender must provide the borrower with a statement which discloses the following items, to the extent applicable:
1. (1) previous balance;
2. (2) identification of transactions;
3. (3) credits;
4. (4) periodic rate(s) and fact that it (they) may vary;
5. (5) balance on which finance charge is computed;
6. (6) amount of finance charge;
7. (7) annual percentage rate;
8. (8) other charges;
9. (9) closing date of billing cycle;
10. (10) new balance;
11. (11) free-ride period; and
12. (12) address for notice of billing errors;
(d) the junior mortgage loan shall be deemed to be made in the maximum amount of the credit line available to the borrower, whether advanced or not, for such purposes as title insurance and loan-to-value ratios; and
(e) no prepayment penalty shall be permitted where such junior mortgage loan secures a revolving credit line.

A revolving credit line secured by a junior mortgage must also comply with the following requirements: