An unstable business model for 30 years? An unstable business that just passed an annual audit confirming it's assets, liabilities and net income for the year 2016? This author knows little of the issues.

As for the OSC, they waited nearly two years after HCG disclosed fraudulent mortgages to come after the company for delayed disclosure. By now, those mortgages are approximately three years old and clearly not impaired. The business was operating fine and was quite profitable and the OSC destroyed confidence in the company by going after it on a stale issue and caused a run on the bank. 

I'm not trying to let the company off easy, they should have disclosed the issues as soon as they knew of them, but the delay can be measured in months (from late 2014 to mid-2015), not years and in the end it did not have have an impact on the quality of their mortgage portfolio. The mortgages were investigated and nearly all qualified for renewal based on revised data.