Quarterly report pursuant to Section 13 or 15(d)

Notes Receivable (Tables)

v3.20.1
Notes Receivable (Tables)
3 Months Ended
Mar. 31, 2020
Notes Receivable [Abstract]  
Information Relating To Bluegreen's Notes Receivable

As of

March 31,

December 31,

2020

2019

Notes receivable secured by VOIs:

VOI notes receivable - non-securitized

$

190,051

$

203,872

VOI notes receivable - securitized

395,108

385,326

Gross VOI notes receivable

585,159

589,198

Allowance for loan losses - non-securitized

(48,493)

(47,894)

Allowance for loan losses - securitized

(106,673)

(92,736)

Allowance for loan losses

(155,166)

(140,630)

VOI notes receivable, net

$

429,993

$

448,568

Allowance as a % of Gross VOI notes receivable

27%

24%

Financing Receivable Credit Quality Indicators And Past Due By Year Of Origination

Year of Origination

2020

2019

2018

2017

2016

2015 and Prior

Total

701+

$

29,174

$

107,298

$

70,649

$

46,077

$

34,472

$

47,243

$

334,913

601-700

13,575

53,165

42,097

30,816

28,094

45,316

213,063

<601 (1)

1,124

5,300

3,747

2,482

2,934

5,258

20,845

Other (2)

1,161

3,603

3,289

2,831

5,454

16,338

Total by FICO score

$

43,873

$

166,924

$

120,096

$

82,664

$

68,331

$

103,271

$

585,159

Defaults

$

$

2,703

4,174

$

2,773

$

2,269

$

3,898

$

15,817

Allowance for loan loss

$

9,674

$

48,428

$

34,740

$

21,760

$

19,057

$

21,507

$

155,166

Delinquency status:

Current

$

43,810

$

162,227

$

113,764

$

77,586

$

64,054

$

95,334

$

556,775

31-60 days

63

1,196

1,190

1,073

708

1,192

5,422

61-90 days

1,333

1,319

852

541

905

4,950

Over 91 days (2)

2,168

3,823

3,153

3,028

5,840

18,012

Total

$

43,873

$

166,924

$

120,096

$

82,664

$

68,331

$

103,271

$

585,159

(1)Includes VOI notes receivable attributable to borrowers without a FICO score (who are primarily foreign borrowers).

(2)Includes $10.3 million related to VOI notes receivable that, as of March 31, 2020, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain of our receivable-backed notes payable transactions. These VOI notes receivable have been reflected in the allowance for loan losses.

Activity In The Allowance For Loan Losses

For the Three Months Ended

March 31,

2020

2019

Balance, beginning of period

$

140,630

$

134,133

Provision for loan losses

30,353

11,153

Less: Write-offs of uncollectible receivables

(15,817)

(8,460)

Balance, end of period

$

155,166

$

136,826

Percentage Of Gross Notes Receivable Outstanding By FICO Score At Origination

As of

March 31,

December 31,

2020

2019

FICO Score

701+

59

%

59

%

601-700

37

37

<601

3

3

Other (1)

1

1

Total

100

%

100

%

(1)VOI notes receivable attributable to borrowers without a FICO score (who are primarily foreign borrowers).

Delinquency Status Of VOI Notes Receivable

As of

March 31,

December 31,

2020

2019

Current

$

556,775

$

557,849

31-60 days

5,422

6,794

61-90 days

4,950

5,288

Over 91 days (1)

18,012

19,267

Total

$

585,159

$

589,198

(1)Includes $10.3 million and $10.6 million as of March 31, 2020 and December 31, 2019, respectively, related to VOI notes receivable that, as of such date, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain of our receivable-backed notes payable transactions. These VOI notes receivable have been reflected in the allowance for loan losses.