Consumer Loans Receivable (Tables)

3 Months Ended

9 Months Ended

Mar. 31, 2018

Dec. 29, 2018

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



	December 29, 2018			March 31, 2018
Loans held for investment (at Acquisition Date)	$	46,177		$	51,798
Loans held for investment (originated after Acquisition Date)	21,315			21,183
Loans held for sale	14,192			12,830
Construction advances	11,844			11,088
Consumer loans receivable	93,528			96,899
Deferred financing fees and other, net	(1,832		)	(1,551		)
Allowance for loan losses	(386		)	(397		)
	$	91,310		$	94,951

Acquired Consumer Loans Receivable Held for Investment



	December 29, 2018			March 31, 2018
	(in thousands)
Consumer loans receivable held for investment – contractual amount	$	105,677		$	120,096
Purchase discount
Accretable	(38,657		)	(44,481		)
Non-accretable	(20,672		)	(23,711		)
Less consumer loans receivable reclassified as other assets	(171		)	(106		)
Total acquired consumer loans receivable held for investment, net	$	46,177		$	51,798

Loans and Leases Receivable, Other Information

The weighted averages of assumptions used in the calculation of expected cash flows to be collected were as follows:



	December 29, 2018		March 31, 2018
Prepayment rate	16.8	%	16.0	%
Default rate	1.1	%	1.2	%

Assuming there was a 1% unfavorable variation from the expected level, for each key assumption, the expected cash flows for the life of the portfolio, as of December 29, 2018, would decrease by approximately $1.0 million and $2.9 million for the expected prepayment rate and expected default rate, respectively.

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						Nine Months Ended
	December 29, 2018			December 30, 2017			December 29, 2018			December 30, 2017
Balance at the beginning of the period	$	40,937		$	51,180		$	44,481		$	56,686
Accretion	(1,904		)	(2,068		)	(5,771		)	(6,441		)
Reclassifications to non-accretable discount	(376		)	(844		)	(53		)	(1,977		)
Balance at the end of the period	$	38,657		$	48,268		$	38,657		$	48,268

Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score



	March 31, 2018
	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	$	465	$	354	$	330	$	—	$	—	$	1,149
620-719	10,102		7,107		8,587		—		245		26,041
720+	10,594		6,410		11,285		—		155		28,444
Other	49		—		403		—		—		452
Subtotal	21,210		13,871		20,605		—		400		56,086
Conforming mortgages
0-619	—		—		156		141		179		476
620-719	—		—		2,137		6,428		6,479		15,044
720+	—		—		199		4,519		5,663		10,381
Other	—		—		116		—		109		225
Subtotal	—		—		2,608		11,088		12,430		26,126
Non-conforming mortgages
0-619	82		405		1,047		—		—		1,534
620-719	1,120		4,378		3,093		—		—		8,591
720+	1,348		2,526		395		—		—		4,269
Other	—		—		282		—		—		282
Subtotal	2,550		7,309		4,817		—		—		14,676
Other loans	—		—		11		—		—		11
	$	23,760	$	21,180	$	28,041	$	11,088	$	12,830	$	96,899

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



	December 29, 2018
	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	$	414	$	255	$	290	$	—	$	—	$	959
620-719	8,775		6,374		9,207		—		281		24,637
720+	9,493		5,607		10,180		—		726		26,006
Other	48		—		403		—		—		451
Subtotal	18,730		12,236		20,080		—		1,007		52,053
Conforming mortgages
0-619	—		—		153		63		—		216
620-719	—		—		2,260		8,387		8,015		18,662
720+	—		—		660		3,394		4,974		9,028
Other	—		—		—		—		196		196
Subtotal	—		—		3,073		11,844		13,185		28,102
Non-conforming mortgages
0-619	79		350		1,006		—		—		1,435
620-719	1,035		4,057		2,835		—		—		7,927
720+	1,251		2,160		373		—		—		3,784
Other	—		—		217		—		—		217
Subtotal	2,365		6,567		4,431		—		—		13,363
Other loans	—		—		10		—		—		10
	$	21,095	$	18,803	$	27,594	$	11,844	$	14,192	$	93,528