Home Capital Plunges Most Since 2008 as Originations Tumble

Home Capital Group Inc. fell the most in almost seven years as preliminary second-quarter results missed analysts’ estimates and originations dropped after it cut ties with some brokers.

Shares in the Toronto-based alternative mortgage provider tumbled as much as 16 percent, the biggest decline since October 2008 and were down 15 percent to C$35.59 at 12:06 p.m. on Monday. Several banks cut ratings on the company’s stock, including Toronto-Dominion Bank and Royal Bank of Canada.