Commitments and Contingencies (Tables)

9 Months Ended

Dec. 28, 2019

Repurchase Contingencies [Roll Forward]

Loan Contracts with Off-Balance Sheet Commitments

Letters of Credit. To secure certain reinsurance contracts, Standard Casualty maintains an irrevocable letter of credit of $11.0 million to provide assurance that Standard Casualty will fulfill its reinsurance obligations. This letter of credit is secured by certain of the Company's investments. There were no amounts outstanding against the letter of credit at either December 28, 2019 or March 30, 2019.

Construction-Period Mortgages. CountryPlace funds construction-period mortgages through periodic advances during home construction. At the time of initial funding, CountryPlace commits to fully fund the loan contract in accordance with a predetermined schedule. Subsequent advances are contingent upon the performance of contractual obligations by the seller of the home and the borrower. Cumulative advances on construction-period mortgages are carried on the Consolidated Balance Sheets at the amount advanced less a valuation allowance, and are included in Consumer loans receivable, net. The total loan contract amount, less cumulative advances, represents an off-balance sheet contingent commitment of CountryPlace to fund future advances.

Loan contracts with off-balance sheet commitments are summarized below (in thousands):

	December 28, 2019			March 30, 2019
Construction loan contract amount	$	31,859		$	28,230
Cumulative advances	(12,626		)	(12,883		)
Remaining construction contingent commitment	$	19,233		$	15,347