Consumer Loans Receivable (Tables)

12 Months Ended

Mar. 29, 2014

Receivables [Abstract]

Consumer Loans Receivable

The following table summarizes consumer loans receivable (in thousands):

	March 29, 2014			March 30, 2013
Loans held for investment (acquired on Palm Harbor Acquisition Date)	$	87,596		$	99,854
Loans held for investment (originated after Palm Harbor Acquisition Date)	1,885			606
Loans held for sale	6,741			7,410
Construction advances	2,403			3,597
Consumer loans receivable	98,625			111,467
Deferred financing fees and other, net	(341		)	(477		)
Consumer loans receivable, net	$	98,284		$	110,990

Acquired Consumer Loans Receivable Held for Investment

	March 29, 2014			March 30, 2013
	(in thousands)
Consumer loans receivable held for investment – contractual amount	$	223,388		$	263,038
Purchase Discount
Accretable	(77,737		)	(91,291		)
Non-accretable	(57,672		)	(71,451		)
Less consumer loans receivable reclassified as other assets	(383		)	(442		)
Total acquired consumer loans receivable held for investment, net	$	87,596		$	99,854

Accretable Yield Movement on Acquired Consumer Loans Receivable

The changes in accretable yield on acquired consumer loans receivable held for investment were as follows (in thousands):

	Year Ended
	March 29, 2014			March 30, 2013
Balance at the beginning of the period	$	91,291		$	106,949
Additions	—			—
Accretion	(11,973		)	(13,554		)
Reclassifications (to) from nonaccretable discount	(1,581		)	(2,104		)
Balance at the end of the period	$	77,737		$	91,291

Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score

The following table disaggregates CountryPlace’s gross consumer loans receivable as of March 29, 2014, for each class by portfolio segment and credit quality indicator as of the time of origination (in thousands):

	Consumer Loans Held for Investment
	Securitized 2005		Securitized 2007		Unsecuritized		Construction Advances		Consumer Loans Held For Sale		Total
Asset Class
Credit Quality Indicator
Chattel loans
0-619	$	1,120	$	655	$	758	$	—	$	—	$	2,533
620-719	16,907		11,303		976		—		123		29,309
720+	18,843		12,739		608		—		58		32,248
Subtotal	36,870		24,697		2,342		—		181		64,090
Conforming mortgages
0-619	—		—		271		89		209		569
620-719	—		—		2,052		1,429		4,351		7,832
720+	—		—		354		885		2,000		3,239
Subtotal	—		—		2,677		2,403		6,560		11,640
Non-conforming mortgages
0-619	93		806		1,967		—		—		2,866
620-719	1,562		6,299		4,471		—		—		12,332
720+	1,908		4,355		1,418		—		—		7,681
Subtotal	3,563		11,460		7,856		—		—		22,879
Other loans
Subtotal	—		—		16		—		—		16
	$	40,433	$	36,157	$	12,891	$	2,403	$	6,741	$	98,625

Geographic Concentration of Consumer Loans Receivable

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