Quarterly report pursuant to Section 13 or 15(d)

Notes Receivable (Tables)

v3.19.1
Notes Receivable (Tables)
3 Months Ended
Mar. 31, 2019
Notes Receivable [Abstract]  
Information Relating To Bluegreen's Notes Receivable





 

 

 

 



 

 

 

 



 

March 31,

 

December 31,



 

2019

 

2018

Notes receivable:

 

 

 

 

VOI notes receivable - non-securitized

$

150,421 

 

124,642 

VOI notes receivable - securitized

 

421,309 

 

447,850 

Notes receivable secured by homesites (1)

 

805 

 

898 

Gross notes receivable

 

572,535 

 

573,390 

Allowance for loan losses - non-securitized

 

(33,628)

 

(28,258)

Allowance for loan losses - securitized

 

(103,198)

 

(105,875)

Allowance for loan losses - homesites (1)

 

(80)

 

(90)

Notes receivable, net

$

435,629 

 

439,167 

Allowance as a % of gross notes receivable

 

24% 

 

23% 





(1)

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

Activity In The Allowance For Loan Losses



 

 

 

 



 

 

 

 



 

For the Three Months Ended



 

March 31,



 

2019

 

2018

Balance, beginning of period

$

134,223 

 

123,791 

Provision for loan losses

 

11,145 

 

8,006 

Write-offs of uncollectible receivables

 

(8,462)

 

(9,100)

Balance, end of period

$

136,906 

 

122,697 



Percentage Of Gross Notes Receivable Outstanding, By FICO Score At Origination







 

 

 

 



 

 

 

 



March 31,

 

December 31,

 

FICO Score

2019

 

2018

 

700+

57.00 

%

57.00 

%

600-699

39.00 

 

39.00 

 

<699

3.00 

 

3.00 

 

No score (1)

1.00 

 

1.00 

 

Total

100.00 

%

100.00 

%



(1)

VOI notes receivable attributable to borrowers without a FICO score are primarily related to foreign borrowers.

Delinquency Status Of Bluegreen's VOI Notes Receivable







 

 

 

 



 

 

 

 



 

March 31,

 

December 31,



 

2019

 

2018

Current

$

538,368 

 

541,783 

31-60 days

 

5,328 

 

5,783 

61-90 days

 

4,511 

 

4,516 

> 90 days (1)

 

23,523 

 

20,410 

Total

$

571,730 

 

572,492