v3.26.1
Loans and finance receivables
3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Loans and finance receivables

Note 7. Loans and finance receivables

Loans and finance receivables are principally manufactured home installment loans, and to a lesser extent, commercial loans and site-built home loans and are summarized as follows (in millions).

 

March 31,
2026

 

 

December 31,
2025

 

Loans and finance receivables, before allowances and discounts

$

32,270

 

 

$

31,997

 

Allowances for credit losses

 

(1,354

)

 

 

(1,347

)

Unamortized acquisition discounts and points

 

(815

)

 

 

(814

)

 

$

30,101

 

 

$

29,836

 

Reconciliations of the allowance for credit losses on loans and finance receivables follow (in millions).

 

2026

 

 

2025

 

Balance at the beginning of the year

$

1,347

 

 

$

1,134

 

Provision for credit losses

 

52

 

 

 

183

 

Charge-offs, net of recoveries

 

(45

)

 

 

(41

)

Balance at March 31

$

1,354

 

 

$

1,276

 

As of March 31, 2026, substantially all manufactured and site-built home loans were evaluated collectively for impairment, and we considered approximately 97% of these loans to be current as to payment status. A summary of performing and non-performing home loans, before allowances and discounts, by year of loan origination as of March 31, 2026 follows (in millions).

 

Origination Year

 

 

 

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior

 

 

Total

 

Performing

$

1,842

 

 

$

4,953

 

 

$

5,270

 

 

$

4,371

 

 

$

3,267

 

 

$

11,730

 

 

$

31,433

 

Non-performing

 

2

 

 

 

10

 

 

 

32

 

 

 

31

 

 

 

20

 

 

 

81

 

 

 

176

 

$

1,844

 

 

$

4,963

 

 

$

5,302

 

 

$

4,402

 

 

$

3,287

 

 

$

11,811

 

 

$

31,609