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)

9 Months Ended

Sep. 30, 2020

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.