Bluegreen Vacations Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Notes Receivable (Tables)

Notes Receivable (Tables)

6 Months Ended

Jun. 30, 2021

Information Relating To Bluegreen's Notes Receivable

As of June 30, December 31, 2021 2020Notes receivable secured by VOIs: VOI notes receivable - non-securitized $ 185,215 $ 156,078VOI notes receivable - securitized 375,105 395,315 Gross VOI notes receivable 560,320 551,393Allowance for loan losses - non-securitized (48,898) (38,750)Allowance for loan losses - securitized (96,820) (103,294) Allowance for loan losses (145,718) (142,044) VOI notes receivable, net $ 414,602 $ 409,349Allowance as a % of Gross VOI notes receivable 26% 26%

Activity In The Allowance For Loan Losses

For the Six Months Ended June 30, 2021 2020Balance, beginning of period $ 142,044 $ 140,630Provision for loan losses 30,807 32,199Less: Write-offs of uncollectible receivables (27,133) (25,200)Balance, end of period $ 145,718 $ 147,629

Financing Receivable Credit Quality Indicators And Past Due By Year Of Origination

Additional information about our VOI notes receivable by year of origination as of June 30, 2021 is as follows (in thousands):


	Year of Origination
	2021		2020		2019		2018		2017		2016 and Prior		Total

701+	$	55,296	$	58,631	$	71,201	$	47,010	$	31,431	$	51,113	$	314,682
601-700		37,648		38,738		39,152		29,624		20,964		47,002		213,128
<601⁽¹⁾		1,803		3,542		4,079		2,705		1,767		5,018		18,914
Other ⁽²⁾		—		1,109		1,393		3,183		2,561		5,350		13,596
Total by FICO score	$	94,747	$	102,020	$	115,825	$	82,522	$	56,723	$	108,483	$	560,320

(1)Includes VOI notes receivable attributable to borrowers without a FICO score (who are primarily foreign borrowers).

(2)Includes $9.6 million related to VOI notes receivable that, as of June 30, 2021, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain receivable-backed notes payable transactions. These VOI notes receivable have been reflected in the allowance for loan losses.

Additional information about our VOI notes receivable by year of origination as of December 31, 2020 is as follows (in thousands):


	Year of Origination
	2020		2019		2018		2017		2016		2015 and Prior		Total

701+	$	70,874	$	85,294	$	56,490	$	37,371	$	27,638	$	35,693	$	313,360
601-700		42,095		44,672		34,181		24,700		22,656		34,779		203,083
<601⁽¹⁾		3,737		4,491		3,003		2,113		2,188		3,954		19,486
Other⁽²⁾		29		567		3,805		3,476		2,336		5,251		15,464
Total by FICO score	$	116,735	$	135,024	$	97,479	$	67,660	$	54,818	$	79,677	$	551,393

(1)Includes VOI notes receivable attributable to borrowers without a FICO score (who are primarily foreign borrowers).

(2)Includes $11.4 million related to VOI notes receivable that, as of December 31, 2020, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain receivable-backed notes payable transactions. These VOI notes receivable have been reflected in the allowance for loan losses.

Percentage Of Gross Notes Receivable Outstanding By FICO Score At Origination

The percentage of gross notes receivable outstanding by FICO score of the borrower at the time of origination were as follows: June 30, December 31, 2021 2020FICO Score 700+58% 59%601-69938 37 <6003 3 No Score (1)1 1 Total100% 100% (1)VOI notes receivable attributable to borrowers without a FICO score (who are primarily foreign borrowers).

Delinquency Status Of VOI Notes Receivable

The following table shows the delinquency status of our VOI notes receivable as of June 30, 2021 and December 31, 2020 (in thousands): As of June 30, December 31, 2021 2020Current $ 532,881 $ 517,11131-60 days 4,327 5,77861-90 days 3,451 4,541Over 91 days (1) 19,661 23,963Total $ 560,320 $ 551,393 (1)Includes $9.6 million and $11.4 million related to VOI notes receivable that, as of June 31, 2021 and December 31, 2020, respectively, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain receivable-backed notes payable transactions. These VOI notes receivable have been reflected in the allowance for loan losses.