Quarterly report pursuant to Section 13 or 15(d)

Notes Receivable (Tables)

v3.20.2
Notes Receivable (Tables)
9 Months Ended
Sep. 30, 2020
Notes Receivable [Abstract]  
Information Relating To Bluegreen's Notes Receivable

September 30,

December 31,

2020

2019

Notes receivable secured by VOIs:

VOI notes receivable - non-securitized

$

197,845

203,872

VOI notes receivable - securitized

362,073

385,326

Gross VOI notes receivable

559,918

589,198

Allowance for loan losses - non-securitized

(59,271)

(47,894)

Allowance for loan losses - securitized

(90,534)

(92,736)

Allowance for loan losses

(149,805)

(140,630)

VOI notes receivable, net

$

410,113

448,568

Allowance as a % of gross VOI notes receivable

27%

24%

Activity In The Allowance For Loan Losses

For the Nine Months Ended

September 30,

2020

2019

Balance, beginning of period

$

140,630

134,133

Provision for loan losses

44,083

39,483

Write-offs of uncollectible receivables

(34,908)

(38,340)

Balance, end of period

$

149,805

135,276

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

Year of Origination

2020 (3)

2019

2018

2017

2016

2015 and Prior

Total

By FICO score:

701+

$

49,843

$

92,561

$

61,442

$

39,863

$

29,802

$

39,607

$

313,118

601-700

30,057

47,499

36,549

26,616

24,508

38,616

203,845

<601 (1)

2,492

4,815

3,266

2,239

2,429

4,445

19,686

Other (2)

225

3,009

4,848

4,484

3,551

7,152

23,269

Total

$

82,617

$

147,884

$

106,105

$

73,202

$

60,290

$

89,820

$

559,918

Defaults

$

610

$

8,251

$

9,484

$

6,559

$

4,901

$

5,103

$

34,908

Allowance for loan loss

$

22,945

$

43,188

$

29,545

$

18,070

$

17,126

$

18,931

$

149,805

Delinquency status:

Current

$

81,169

$

141,008

$

99,478

$

68,010

$

56,417

$

81,387

$

527,469

31-60 days

612

1,521

1,243

736

558

936

5,606

61-90 days

315

1,510

764

946

408

568

4,511

Over 91 days (2)

521

3,845

4,620

3,510

2,907

6,929

22,332

Total

$

82,617

$

147,884

$

106,105

$

73,202

$

60,290

$

89,820

$

559,918

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

(2)Includes $15.2 million related to VOI notes receivable that, as of September 30, 2020, 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.

(3)VOI originations for the nine months ended September 30, 2020.

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

September 30,

December 31,

FICO Score

2020

2019

700+

59.00

%

59.00

%

600-699

37.00

37.00

<601(1)

4.00

4.00

Total

100.00

%

100.00

%

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

Delinquency Status Of Bluegreen's VOI Notes Receivable

September 30,

December 31,

2020

2019

Current

$

527,469

557,849

31-60 days

5,606

6,794

61-90 days

4,511

5,288

> 91 days (1)

22,332

19,267

Total

$

559,918

589,198

(1)Includes $15.2 million and $10.6 million of VOI notes receivable as of September 30, 2020 and December 31, 2019, respectively, that, as of such dates, 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 included in the allowance for loan losses.