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Consumer Loans Receivable (Tables)
 3 Months Ended
Jun. 29, 2013
Receivables [Abstract]  
Consumer Loans Receivable
The following table summarizes consumer loans receivable (in thousands):

June 29, 2013
 
March 30, 2013
Loans held for investment (acquired as part of the Palm Harbor transaction)
$
96,426

 
$
99,854

Loans held for investment (originated after the Palm Harbor transaction)
1,059

 
606

Loans held for sale
8,392

 
7,410

Construction advances, net
4,837

 
3,597

Consumer loans receivable
110,714

 
111,467

Deferred financing fees and other, net
(435
)
 
(477
)
Consumer loans receivable, net
$
110,279

 
$
110,990
Acquired Consumer Loans Receivable Held for Investment
 
June 29, 2013
 
March 30, 2013

(In thousands)
Consumer loans receivable held for investment – contractual amount
$
252,309

 
$
263,038

Purchase discount
 
 
 
Accretable yield
(86,467
)
 
(91,291
)
Non-accretable difference
(69,145
)
 
(71,451
)
Less consumer loans receivable reclassified as other assets
(271
)
 
(442
)
Total acquired consumer loans receivable held for investment, net
$
96,426

 
$
99,854
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):

Three Months Ended

June 29, 2013
 
June 30, 2012
Balance at the beginning of the period
$
91,291

 
$
106,949

Accretion
(3,116
)
 
(3,564
)
Net transfers from accretable yield to non-accretable difference
(1,708
)
 
—

Balance at the end of the period
$
86,467

 
$
103,385
Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score
The following table disaggregates CountryPlace’s gross consumer loans receivable as of June 29, 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
$
1,217

 
$
790

 
$
855

 
$
—

 
$
—

 
$
2,862

620-719
18,331

 
12,448

 
1,007

 
—

 
50

 
31,836

720+
21,200

 
13,955

 
648

 
—

 
—

 
35,803

Subtotal
40,748

 
27,193

 
2,510

 
—

 
50

 
70,501

Conforming mortgages
 
 
 
 
 
 
 
 
 
 
 
0-619
—

 
—

 
433

 
—

 
84

 
517

620-719
—

 
—

 
1,712

 
2,763

 
5,173

 
9,648

720+
—

 
—

 
11

 
2,074

 
3,085

 
5,170

Subtotal
—

 
—

 
2,156

 
4,837

 
8,342

 
15,335

Non-conforming mortgages
 
 
 
 
 
 
 
 
 
 
 
0-619
95

 
831

 
2,411

 
—

 
—

 
3,337

620-719
1,862

 
6,993

 
4,517

 
—

 
—

 
13,372

720+
1,963

 
4,740

 
1,449

 
—

 
—

 
8,152

Subtotal
3,920

 
12,564

 
8,377

 
—

 
—

 
24,861

Other loans
 
 
 
 
 
 
 
 
 
 
 
Subtotal
—

 
—

 
17

 
—

 
—

 
17

 
$
44,668

 
$
39,757

 
$
13,060

 
$
4,837

 
$
8,392

 
$
110,714
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:

 
June 29, 2013

 
 
 
Aging 61 days or more

 
Portfolio
 
Percent of state’s
 
Percent of total
State
 
concentration
 
loan balance
 
loan balance
Texas
 
41.9
%
 
2.30
%
 
0.96
%
Florida
 
7.3
%
 
2.16
%
 
0.16
%
New Mexico
 
6.6
%
 
0.26
%
 
0.02
%
Arizona
 
6.0
%
 
3.79
%
 
0.23
%
Alabama
 
5.5
%
 
1.78
%
 
0.10
%
California
 
2.3
%
 
—
%
 
—
%
All others
 
30.4
%
 
3.60
%
 
1.09
%
 
 
100.0
%
 
 
 
2.56
%