If this is a Non-QM program, it should also default to these guidelines. 

I think the banks are going to see a spike in defaults in which people will be paying massive monthly payments due to increased PITI and may inevitably default on the mortgage.

Your credit will take a hit but most of my clients recover very quickly if they don't default on other debts.

My big concern however is for whatever reason defaulting on a HML.

This text is pulled directly from the website(https://www.fincen.gov/sites/default/files/shared/BOI_Small_...):3.2 Who is a company applicant of my company?

(Sorry.)This will get a bit confusing at first:You should find some answers in this government guide, starting on page 15: https://www.dca.ga.gov/sites/default/files/2-15-21_handbook_final_draft.pdfThere is example language of what your written notice to the tenant should include.

If you are closing in an entity and default, guess what? 

My opinion is while not directly correlated, when banks start losing money and increase in defaults lending tightens and large losses typically will lead to more job losses.

If the PM can keep the "rental payment default rate" below 8%, he/she can keep 75% of that difference.

They default the automatic renewal to Yes.