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Consumer Loans Receivable (Tables)
 12 Months Ended
Mar. 30, 2013
Receivables [Abstract]  
Consumer Loans Receivable
The following table summarizes consumer loans receivable (in thousands):
 
 
March 30,
2013
 
March 31,
2012
Loans held for investment (acquired on Palm Harbor Acquisition Date)
$
99,854

 
$
110,629

Loans held for investment (originated after Palm Harbor Acquisition Date)
606

 
511

Loans held for sale
7,410

 
4,534

Construction advances
3,597

 
3,865

Consumer loans receivable
111,467

 
119,539

Deferred financing fees and other, net
(477
)
 
(240
)
Consumer loans receivable, net
$
110,990

 
$
119,299
Acquired Consumer Loans Receivable Held for Investment
 
March 30,
2013
 
March 31,
2012
 
(In thousands)
Consumer loans receivable held for investment – contractual amount
$
263,038

 
$
293,818

Purchase Discount
 
 
 
Accretable
(91,291
)
 
(106,949
)
Non-accretable
(71,451
)
 
(75,928
)
Less consumer loans receivable reclassified as other assets
(442
)
 
(312
)
Total acquired consumer loans receivable held for investment, net
$
99,854

 
$
110,629
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):
 
 
Year Ended
 
March 30,
2013
 
March 31,
2012
Balance at the beginning of the period
$
106,949

 
$
—

Additions
—

 
118,335

Accretion
(13,554
)
 
(15,013
)
Reclassifications (to) from nonaccretable discount
(2,104
)
 
3,627

Balance at the end of the period
$
91,291

 
$
106,949
Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score
The following table disaggregates CountryPlace’s gross consumer loans receivable as of March 30, 2013, for each class by portfolio segment and credit quality indicator as of the time of origination (in thousands):
 
 
Consumer Loans Held for Investment
 
 
 
Consumer
 
 
 
Securitized
2005
 
Securitized
2007
 
Unsecuritized
 
Construction
Advances
 
Loans Held
For Sale
 
Total
Asset Class
 
 
 
 
 
 
 
 
 
 
 
Credit Quality Indicator
 
 
 
 
 
 
 
 
 
 
Chattel loans
 
 
 
 
 
 
 
 
 
 
 
0-619
$
1,307

 
$
832

 
$
875

 
$
—

 
$
—

 
$
3,014

620-719
19,169

 
12,882

 
1,097

 
—

 
—

 
33,148

720+
21,888

 
14,386

 
658

 
—

 
—

 
36,932

Subtotal
42,364

 
28,100

 
2,630

 
—

 
—

 
73,094

Conforming mortgages
 
 
 
 
 
 
 
 
 
 
 
0-619
—

 
—

 
275

 
48

 
59

 
382

620-719
—

 
—

 
1,536

 
2,569

 
4,414

 
8,519

720+
—

 
—

 
11

 
980

 
2,937

 
3,928

Subtotal
—

 
—

 
1,822

 
3,597

 
7,410

 
12,829

Non-conforming mortgages
 
 
 
 
 
 
 
 
 
 
 
0-619
96

 
836

 
2,398

 
—

 
—

 
3,330

620-719
2,027

 
7,124

 
4,874

 
—

 
—

 
14,025

720+
1,970

 
4,751

 
1,451

 
—

 
—

 
8,172

Subtotal
4,093

 
12,711

 
8,723

 
—

 
—

 
25,527

Other loans
 
 
 
 
 
 
 
 
 
 
 
Subtotal
—

 
—

 
17

 
—

 
—

 
17

 
$
46,457

 
$
40,811

 
$
13,192

 
$
3,597

 
$
7,410

 
$
111,467
Geographic Concentration of Consumer Loans Receivable
Consumer loans receivable are located in the key states shown below with the corresponding percentage of loans aged 61 days or more:
 
 
 
March 30, 2013
 
 
 
 
Aging 61 days or more
 
 
Portfolio
 
Percent of state’s
 
Percent of total
State
 
concentration
 
loan balance
 
loan balance
Texas
 
41.9
%
 
1.77
%
 
0.74
%
Florida
 
6.7
%
 
2.26
%
 
0.15
%
New Mexico
 
6.6
%
 
2.44
%
 
0.16
%
Arizona
 
6.2
%
 
3.05
%
 
0.19
%
Alabama
 
5.8
%
 
1.62
%
 
0.09
%
California
 
2.2
%
 
3.18
%
 
0.07
%
All others
 
30.6
%
 
3.35
%
 
1.03
%
 
 
100.0
%
 
 
 
2.43
%