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Consumer Loans Receivable (Tables) | 9 Months Ended
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Dec. 28, 2013
Receivables [Abstract] |
Consumer Loans Receivable | The following table summarizes consumer loans receivable (in thousands):
| December 28, 2013 |  | March 30, 2013
Loans held for investment (acquired as part of the Palm Harbor transaction) | $ | 90,350 |  |  | $ | 99,854 |
Loans held for investment (originated after the Palm Harbor transaction) | 1,687 |  |  | 606 |
Loans held for sale | 7,391 |  |  | 7,410 |
Construction advances, net | 2,759 |  |  | 3,597 |
Consumer loans receivable | 102,187 |  |  | 111,467 |
Deferred financing fees and other, net | (198 | ) |  | (477 | )
Consumer loans receivable, net | $ | 101,989 |  |  | $ | 110,990 |
Acquired Consumer Loans Receivable Held for Investment |
| December 28, 2013 |  | March 30, 2013
| (In thousands)
Consumer loans receivable held for investment – contractual amount | $ | 231,912 |  |  | $ | 263,038 |
Purchase discount |  |  |
Accretable yield | (80,803 | ) |  | (91,291 | )
Non-accretable difference | (60,206 | ) |  | (71,451 | )
Less consumer loans receivable reclassified as other assets | (553 | ) |  | (442 | )
Total acquired consumer loans receivable held for investment, net | $ | 90,350 |  |  | $ | 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 |  | Nine Months Ended
| December 28, 2013 |  | December 29, 2012 |  | December 28, 2013 |  | December 29, 2012
Balance at the beginning of the period | $ | 83,817 |  |  | $ | 102,314 |  |  | $ | 91,291 |  |  | $ | 106,949 |
Accretion | (2,980 | ) |  | (3,307 | ) |  | (9,143 | ) |  | (10,402 | )
Net transfers between accretable yield and non-accretable difference | (34 | ) |  | 374 |  |  | (1,345 | ) |  | 2,834 |
Balance at the end of the period | $ | 80,803 |  |  | $ | 99,381 |  |  | $ | 80,803 |  |  | $ | 99,381 |
Gross Consumer Loans Receivable by Portfolio Segment and Credit Risk Score | The following table disaggregates CountryPlace’s gross consumer loans receivable as of December 28, 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 | $ | 1,142 |  |  | $ | 668 |  |  | $ | 821 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,631 |
620-719 | 17,449 |  |  | 11,617 |  |  | 987 |  |  | — |  |  | — |  |  | 30,053 |
720+ | 19,594 |  |  | 13,321 |  |  | 593 |  |  | — |  |  | — |  |  | 33,508 |
Subtotal | 38,185 |  |  | 25,606 |  |  | 2,401 |  |  | — |  |  | — |  |  | 66,192 |
Conforming mortgages |  |  |  |  |  |  |  |  |  |  |
0-619 | — |  |  | — |  |  | 274 |  |  |  |  |  | 128 |  |  | 402 |
620-719 | — |  |  | — |  |  | 2,308 |  |  | 1,552 |  |  | 4,604 |  |  | 8,464 |
720+ | — |  |  | — |  |  | 287 |  |  | 1,207 |  |  | 2,659 |  |  | 4,153 |
Subtotal | — |  |  | — |  |  | 2,869 |  |  | 2,759 |  |  | 7,391 |  |  | 13,019 |
Non-conforming mortgages |  |  |  |  |  |  |  |  |  |  |
0-619 | 94 |  |  | 817 |  |  | 2,051 |  |  | — |  |  | — |  |  | 2,962 |
620-719 | 1,646 |  |  | 6,399 |  |  | 4,082 |  |  | — |  |  | — |  |  | 12,127 |
720+ | 1,945 |  |  | 4,496 |  |  | 1,429 |  |  | — |  |  | — |  |  | 7,870 |
Subtotal | 3,685 |  |  | 11,712 |  |  | 7,562 |  |  | — |  |  | — |  |  | 22,959 |
Other loans |  |  |  |  |  |  |  |  |  |  |
Subtotal | — |  |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
| $ | 41,870 |  |  | $ | 37,318 |  |  | $ | 12,849 |  |  | $ | 2,759 |  |  | $ | 7,391 |  |  | $ | 102,187 |
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:
|  | December 28, 2013 |  | March 30, 2013
|  |  |  | Aging 61 days or more |  |  |  | Aging 61 days or more
|  | Portfolio |  | Percent of state’s |  | Percent of total |  | Portfolio |  | Percent of state’s |  | Percent of total
State |  | concentration |  | loan balance |  | loan balance |  | concentration |  | loan balance |  | loan balance
Texas |  | 41.4% |  | 1.29% |  | 0.53% |  | 41.9% |  | 1.77% |  | 0.74%
Florida |  | 7.9% |  | 1.62% |  | 0.13% |  | 6.7% |  | 2.26% |  | 0.15%
New Mexico |  | 6.9% |  | 1.05% |  | 0.07% |  | 6.6% |  | 2.44% |  | 0.16%
Arizona |  | 5.6% |  | 6.31% |  | 0.35% |  | 6.2% |  | 3.05% |  | 0.19%
All others |  | 38.2% |  | 3.17% |  | 1.21% |  | 38.6% |  | 3.08% |  | 1.19%
|  | 100.0% |  |  |  | 2.29% |  | 100.0% |  |  |  | 2.43%

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