Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 64

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 securities$21,783 $21,783 $18,669 $18,669 Marketable equity securities7,434 7,434 11,961 11,961 Non-marketable equity investments5,132 5,132 4,956 4,956 Consumer loans receivable53,636 57,114 44,067 49,105 Commercial loans receivable94,353 79,664 91,041 80,764 Other secured financing(1,622)(1,536)(1,916)(1,841)See Note 20, Fair Value Measurements, and the Fair Value of Financial Instruments caption in Note 1, Summary of Significant Accounting Policies, in the Form 10-K for more information on the methodologies we use in determining fair value.Mortgage Servicing. Mortgage Servicing Rights ("MSRs") are recorded at fair value in Prepaid expenses and other current assets on the Consolidated Balance Sheets.December 28,2024March 30,2024Number of loans serviced with MSRs3,693 3,842 Weighted average servicing fee (basis points)34.80 34.79 Capitalized servicing multiple186.29 %188.59 %Capitalized servicing rate (basis points)64.83 65.61 Serviced portfolio with MSRs (in thousands)$458,268 $482,898 MSRs (in thousands)$2,971 $3,168 

15

17. Business Segment Information

We operate principally in two segments: (1) factory-built housing, which includes wholesale and retail factory-built housing operations, and (2) financial services, which includes manufactured housing consumer finance and insurance. The following table provides selected financial data by segment (in thousands):Three Months EndedNine Months EndedDecember 28,2024December 30,2023December 28,2024December 30,2023Net revenue:Factory-built housing$500,860 $426,939 $1,445,251 $1,318,114 Financial services21,180 19,830 61,849 56,560 $522,040 $446,769 $1,507,100 $1,374,674 Income (loss) before income taxes:Factory-built housing$63,150 $42,070 $168,155 $154,121 Financial services6,186