Quarterly report pursuant to Section 13 or 15(d)

Notes Receivable (Tables)

v3.10.0.1
Notes Receivable (Tables)
6 Months Ended
Jun. 30, 2018
Notes Receivable [Abstract]  
Information Relating To Bluegreen's Notes Receivable





 

 

 

 



 

 

 

 



 

June 30,

 

December 31,



 

2018

 

2017

Notes receivable:

 

 

 

 

VOI notes receivable - non-securitized

$

170,296 

 

184,971 

VOI notes receivable - securitized

 

381,886 

 

364,349 

Notes receivable secured by homesites (1)

 

1,070 

 

1,329 

Gross notes receivable

 

553,252 

 

550,649 

Allowance for loan losses - non-securitized

 

(37,628)

 

(38,497)

Allowance for loan losses - securitized

 

(85,870)

 

(85,161)

Allowance for loan losses - homesites (1)

 

(107)

 

(133)

Notes receivable, net

$

429,647 

 

426,858 

Allowance as a % of gross notes receivable

 

22% 

 

22% 





(1)

Notes receivable secured by homesites were originated through a business, substantially all of the assets of which were sold by Bluegreen in 2012.    

Activity In The Allowance For Loan Losses



 

 



 

 



 

For the Six Months Ended



 

June 30,



 

2018

Balance, beginning of period

$

123,791 

Provision for loan losses

 

21,447 

Write-offs of uncollectible receivables

 

(21,633)

Balance, end of period

$

123,605 



 

 



Delinquency Status Of Bluegreen's VOI Notes Receivable







 

 

 

 



 

 

 

 



 

June 30,

 

December 31,



 

2018

 

2017

Current

$

527,487 

 

525,482 

31-60 days

 

5,825 

 

6,088 

61-90 days

 

3,368 

 

4,897 

> 90 days (1)

 

15,502 

 

12,853 

Total

$

552,182 

 

549,320 



 

 

 

 





(1)

Includes $11.0 million and $7.6 million as of June 30, 2018 and December 31, 2017, respectively, related to VOI notes receivable that, as of such date, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain of Bluegreen's receivable-backed notes payable transactions.  These VOI notes receivable have been reflected in the allowance for loan losses.