From the information that I have (concerning this situation presented) I can only assume that it was not a common private or individual property transfer you are talking about, but rather an REO property ( bank owned ) deal which went sour. Nonetheless, contact your attorney and have your legal team work out any kind of money return due you. Generally, they are very adept at following the money trail.

In NY, contracts are generally "on or about" a closing date which means 30 days before to 30 days after. If the loan does not come through within that time, the buyer's attorney will typically work out the dating with the seller's attorney. I have never heard that a bank has cancelled a deal. I think there is something going on that is not being communicated properly. Are you perhaps talking about a lock-in on your rate?

Call your attorney!

If you did not get your commitment and you have a mortgage contingency clause in your contract, your deposit should be returned.

If you are from Long Island, your attorney wrote up the contracts subject to financing and your deposit is in an attorneys escrow account. I only know your location is Brentwood, but not the state.

DISCLAIMER: you state loan did not come thru in time, lenders are taking longer for loan processing if you still qualified only proven as a delay in paperwork you could be denied your earnest money. Buyers Agent will need amend the contract or submit cancel purchase request for escrow funds returned.
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Only if your contract said "subject to financing" and if you were within the timeframe on the contract to notify them that your loan was denied. You should do it in writing and include the denial letter.