Home Capital Group Fell 8.63% Today. Why?

On April 13, 2017, DBRS Downgrades Home Capital Group.
On March 27, 2017, HCG announced the immediate departure of Chief Executive Officer (CEO), Mr. Martin Reid, and named independent director, Ms. Bonita J. Then, as interim President and CEO while the Group searches for a full-time replacement.
On March 14, 2017, the Group disclosed that the OSC had issued enforcement notices to several current and former officers and directors of HCG regarding the 2014 and 2015 disclosures and, in some instances, trades in the Group’s shares.
On October 2016, Department of Finance Canada’s new mortgage rules took effect may have a negative impact on the Group’s and industry’s origination volumes as well as on loans under administration, which may represent a headwind to profitability.
HCG’s franchise could be weakened by the changes in management because of potential regulatory action by the OSC or because of changes in risk management and operational processes.