Debt Obligations (Tables)

3 Months Ended

Jun. 30, 2018

Debt obligations primarily consist of amounts related to loans sold that did not qualify for loan sale accounting treatment. The following table summarizes debt obligations (in thousands):



	June 30, 2018		March 31, 2018
Acquired securitized financings (acquired as part of the Palm Harbor transaction)
Securitized financing 2005-1	$	19,732	$	20,524
Securitized financing 2007-1	21,797		22,552
Other secured financings	5,009		4,966
Secured credit facilities	11,583		11,770
Total securitized financings and other, net	$	58,121	$	59,812

Acquired Securitized Financings

The following table summarizes acquired securitized financings (in thousands):



	June 30, 2018			March 31, 2018
Securitized financings – contractual amount	$	44,226		$	46,591
Purchase discount
Accretable	(2,697		)	(3,515		)
Non-accretable (1)	—			—
Total acquired securitized financings, net	$	41,529		$	43,076

(1) There is no non-accretable difference, as the contractual payments on acquired securitized financing are determined by the cash collections from the underlying loans.

Accretable Yield Movement on Acquired Securitized Financings

The changes in accretable yield on securitized financings were as follows (in thousands):



	Three Months Ended
	June 30, 2018			July 1, 2017
Balance at the beginning of the period	$	3,515		$	7,636
Accretion	(803		)	(871		)
Adjustment to cash flows	(15		)	(99		)
Balance at the end of the period	$	2,697		$	6,666