Annual report pursuant to Section 13 and 15(d)

Notes Receivable (Tables)

v3.20.1
Notes Receivable (Tables)
12 Months Ended
Dec. 31, 2019
Notes Receivable [Abstract]  
Information Relating To Bluegreen's Notes Receivable

As of December 31,

2019

2018

Notes receivable secured by VOIs:

VOI notes receivable - non-securitized

$

203,872

$

124,642

VOI notes receivable - securitized

385,326

447,850

589,198

572,492

Allowance for loan losses - non-securitized

(47,894)

(28,258)

Allowance for loan losses - securitized

(92,736)

(105,875)

VOI notes receivable, net

$

448,568

$

438,359

Allowance as a % of VOI notes receivable

24%

23%

Notes receivable secured by homesites: (1)

Homesite notes receivable

659

898

Allowance for loan losses

(65)

(90)

Homesite notes receivable, net

$

594

$

808

Allowance as a % of homesite notes receivable

10%

10%

Total notes receivable:

Gross notes receivable

$

589,857

$

573,390

Allowance for loan losses

(140,695)

(134,223)

Notes receivable, net

$

449,162

$

439,167

Allowance as a % of gross notes receivable

24%

23%

(1)Notes receivable secured by homesites were originated through a business, substantially all the assets of which were sold by us in 2012.

Future Conctractual Principal Payments Of Notes Receivables

2020

$

62,808

2021

62,320

2022

67,086

2023

70,589

2024

72,559

Thereafter

254,495

Total

$

589,857

Activity In The Allowance For Loan Losses

For the Year Ended
December 31,

2019

2018

Balance, beginning of year

$

134,223

$

123,791

Provision for loan losses

55,677

51,236

Less: Write-offs of uncollectible receivables

(49,205)

(40,804)

Balance, end of year

$

140,695

$

134,223

Percentage Of Gross Notes Receivable Outstanding By FICO Score At Origination

As of

December 31,

December 31,

2019

2018

FICO Score

700+

59

%

57

%

600-699

37

39

<600

3

3

No Score (1)

1

1

Total

100

%

100

%

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

Delinquency Status Of VOI Notes Receivable

As of December 31,

2019

2018

Current

$

557,849

$

541,783

31-60 days

6,794

5,783

61-90 days

5,288

4,516

Over 91 days (1)

19,267

20,410

Total

$

589,198

$

572,492

(1)Includes $10.6 million and $14.3 million as of December 31, 2019 and 2018, 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.