A lender that sources loan funds through a securitisation trust structure remains the true lender under the loan agreement, and the source of funds does not affect the consideration for the loan or require disclosure to the borrower. Breach of an ancillary obligation to provide documents does not entitle a borrower to treat the entire loan agreement as terminated. Acceptance of reduced payments under a hardship notice, without any agreement for forbearance, does not preclude the lender from enforcing its rights.
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