Consumer Loans Receivable (Tables)

3 Months Ended

Jul. 02, 2016

Apr. 02, 2016

Receivables [Abstract]

Consumer Loans Receivable

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

	July 2, 2016			April 2, 2016
Loans held for investment (acquired on Palm Harbor Acquisition Date)	$	66,968		$	68,951
Loans held for investment (originated after Palm Harbor Acquisition Date)	6,236			6,120
Loans held for sale	10,388			8,765
Construction advances	5,685			6,566
Consumer loans receivable	89,277			90,402
Deferred financing fees and other, net	(843		)	(844		)
Consumer loans receivable, net	$	88,434		$	89,558

Acquired Consumer Loans Receivable Held for Investment

	July 2, 2016			April 2, 2016
	(in thousands)
Consumer loans receivable held for investment – contractual amount	$	161,570		$	166,793
Purchase discount
Accretable	(66,284		)	(69,053		)
Non-accretable	(27,987		)	(28,536		)
Less consumer loans receivable reclassified as other assets	(331		)	(253		)
Total acquired consumer loans receivable held for investment, net	$	66,968		$	68,951

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):

	Three Months Ended
	July 2, 2016			June 27, 2015
Balance at the beginning of the period	$	69,053		$	73,202
Accretion	(2,515		)	(2,751		)
Reclassifications from non-accretable discount	(254		)	(190		)
Balance at the end of the period	$	66,284		$	70,261

Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score

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

July 2, 2016
	Consumer Loans Held for Investment
	Securitized 2005		Securitized 2007		Unsecuritized		Construction Advances		Consumer Loans Held For Sale		Total
Asset Class
Credit Quality Indicator (FICO® score)
Chattel loans
0-619	$	758	$	515	$	324	$	—	$	42	$	1,639
620-719	12,844		8,811		3,795		—		46		25,496
720+	14,135		9,055		2,304		—		754		26,248
Other	54		—		443		—		—		497
Subtotal	27,791		18,381		6,866		—		842		53,880
Conforming mortgages
0-619	—		—		163		135		294		592
620-719	—		—		1,530		3,781		6,438		11,749
720+	—		—		193		1,769		2,814		4,776
Subtotal	—		—		1,886		5,685		9,546		17,117
Non-conforming mortgages
0-619	87		578		1,373		—		—		2,038
620-719	1,350		5,242		3,635		—		—		10,227
720+	1,633		3,348		714		—		—		5,695
Other	—		—		307		—		—		307
Subtotal	3,070		9,168		6,029		—		—		18,267
Other loans
Subtotal	—		—		13		—		—		13
	$	30,861	$	27,549	$	14,794	$	5,685	$	10,388	$	89,277

	April 2, 2016
	Consumer Loans Held for Investment
	Securitized 2005		Securitized 2007		Unsecuritized		Construction Advances		Consumer Loans Held For Sale		Total
Asset Class
Credit Quality Indicator (FICO® score)
Chattel loans
0-619	$	776	$	543	$	336	$	—	$	—	$	1,655
620-719	13,139		9,100		3,683		—		96		26,018
720+	14,751		9,409		2,324		—		215		26,699
Other	55		—		447		—		—		502
Subtotal	28,721		19,052		6,790		—		311		54,874
Conforming mortgages
0-619	—		—		164		95		171		430
620-719	—		—		1,428		3,355		5,847		10,630
720+	—		—		320		3,116		2,436		5,872
Subtotal	—		—		1,912		6,566		8,454		16,932
Non-conforming mortgages
0-619	88		585		1,392		—		—		2,065
620-719	1,365		5,290		3,664		—		—		10,319
720+	1,684		3,382		826		—		—		5,892
Other	—		—		307		—		—		307
Subtotal	3,137		9,257		6,189		—		—		18,583
Other loans
Subtotal	—		—		13		—		—		13
	$	31,858	$	28,309	$	14,904	$	6,566	$	8,765	$	90,402