Consumer Loans Receivable (Tables)

3 Months Ended

6 Months Ended

Apr. 02, 2016

Oct. 01, 2016

Receivables [Abstract]

Consumer Loans Receivable

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

	October 1, 2016			April 2, 2016
Loans held for investment (acquired on Palm Harbor Acquisition Date)	$	64,115		$	68,951
Loans held for investment (originated after Palm Harbor Acquisition Date)	7,087			6,120
Loans held for sale	15,468			8,765
Construction advances	7,055			6,566
Consumer loans receivable	93,725			90,402
Deferred financing fees and other, net	(1,049		)	(844		)
Consumer loans receivable, net	$	92,676		$	89,558

Acquired Consumer Loans Receivable Held for Investment

	October 1, 2016			April 2, 2016
	(in thousands)
Consumer loans receivable held for investment – contractual amount	$	154,434		$	166,793
Purchase discount
Accretable	(62,209		)	(69,053		)
Non-accretable	(27,773		)	(28,536		)
Less consumer loans receivable reclassified as other assets	(337		)	(253		)
Total acquired consumer loans receivable held for investment, net	$	64,115		$	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						Six Months Ended
	October 1, 2016			September 26, 2015			October 1, 2016			September 26, 2015
Balance at the beginning of the period	$	66,284		$	70,261		$	69,053		$	73,202
Accretion	(2,449		)	(2,685		)	(4,964		)	(5,436		)
Reclassifications from non-accretable discount	(1,626		)	2,874			(1,880		)	2,684
Balance at the end of the period	$	62,209		$	70,450		$	62,209		$	70,450

Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score

	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

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):

October 1, 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	$	736	$	473	$	315	$	—	$	39	$	1,563
620-719	12,468		8,453		3,860		—		156		24,937
720+	13,403		8,514		2,348		—		1,657		25,922
Other	52		—		438		—		—		490
Subtotal	26,659		17,440		6,961		—		1,852		52,912
Conforming mortgages
0-619	—		—		162		29		368		559
620-719	—		—		2,208		4,149		9,983		16,340
720+	—		—		233		2,877		2,975		6,085
Other	—		—		—		—		290		290
Subtotal	—		—		2,603		7,055		13,616		23,274
Non-conforming mortgages
0-619	86		568		1,350		—		—		2,004
620-719	1,326		5,074		3,594		—		—		9,994
720+	1,613		3,081		530		—		—		5,224
Other	—		—		304		—		—		304
Subtotal	3,025		8,723		5,778		—		—		17,526
Other loans
Subtotal	—		—		13		—		—		13
	$	29,684	$	26,163	$	15,355	$	7,055	$	15,468	$	93,725