1. Any lender who requires an applicant for a loan or forbearance, which is to be
secured primarily by an interest in real property, to bear the cost of either an appraisal
of said property or the cost of obtaining a consumer report subject to the provisions
of article twenty-five of the general business law as a condition to the processing
of the application or the granting of the loan or forbearance, shall, upon the written
request of such applicant, provide to him a copy of said appraisal or consumer report
as the case may be, at no additional cost.
2. “Lender” as used in this section shall mean and include any bank, trust company,
national bank, savings bank, federal mutual savings bank, savings and loan association,
federal savings and loan association, private banker, credit union, federal credit
union, investment company, insurance company, pension fund, mortgage banker or any
3. If any provision of this section, or the application of such provision to any individual,
company, corporation or circumstance, shall be held invalid, the remainder of this
section, and the application of such section to individuals, companies, corporations,
or circumstances other than those to which it is held invalid, shall not be affected
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