Ex. 99.1 Report of Independent Accountants7

Ernst & Young LLP

One Manhattan West

New York, NY 10001

Tel: +1 212 773 3000

Fax: +1 212 773 6350

ey.com

Ernst & Young LLP

One Manhattan West

New York, NY 10001

Tel: +1 212 773 3000

Fax: +1 212 773 6350

ey.com

Report of Independent Accountants on Applying Agreed-Upon Procedures

Bluegreen Vacations Corporation

4960 Conference Way, North Suite 100

Boca Raton, Florida 33431

1 April 2022

Re:BXG Receivables Note Trust 2022-A (the “Issuer”)

Timeshare Loan-Backed Notes, Series 2022-A (the “Notes”)

Sample Loan Agreed-Upon Procedures

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by Bluegreen Vacations Corporation (“Bluegreen”) and KeyBanc Capital Markets Inc. (“KeyBanc,” together with Bluegreen, the “Specified Parties”), for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to a pool of timeshare loans (the “Loans”) relating to the Issuer’s securitization transaction. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

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For the purpose of the procedures described in this report, Bluegreen provided us with:

An electronic data file labeled “2-15-22 Collateral Pool (EY review).xlsx” and the corresponding record layout and decode information, as applicable (the “Preliminary Data File”), that Bluegreen indicated contains information relating to certain timeshare loans (the “Preliminary Loans”) as of 15 February 2022 (the “Preliminary Cut-Off Date”) that are expected to be representative of the Loans,

Imaged copies of:

The promissory note or other related documents (collectively and as applicable, the “Promissory Note”),

ii.

The purchase agreement or other related documents (collectively and as applicable, the “Purchase Agreement”),

iii.

Certain printed screen shots from loan servicing and accounting management system (the “LSAMS Screen Shots”),

iv.

The revision of terms or other related documents, as applicable (the “Revision of Terms”), and

The extension agreement, as applicable (the “Extension Agreement,” together with the Promissory Note, Purchase Agreement, LSAMS Screen Shots and Revision of Terms, the “Source Documents”),

that Bluegreen indicated relate to each Sample Loan (as defined in Attachment A),

The list of relevant characteristics (the “Sample Characteristics”) on the Preliminary Data File, which is shown on Exhibit 1 to Attachment A, and

Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedures described in this report, certain information contained on the Preliminary Data File is the “Subject Matter” as of the date of this report.

The procedures included in Attachment A were limited to comparing or recalculating certain information that is further described in Attachment A. Bluegreen is responsible for the Subject Matter, Preliminary Data File, Source Documents, Sample Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Source Documents or any other information provided to us, or that we were instructed to obtain, as applicable, by Bluegreen upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Preliminary Loans or Loans, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by Bluegreen that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

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This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the “AICPA”). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization (a “rating agency”) or

Making any findings with respect to:

Whether the origination of the Loans conformed to, or deviated from, stated underwriting or credit extension guidelines, standards, criteria, or other requirements,

ii.

The value of the collateral securing the Loans,

iii.

Whether the originator(s) of the Loans complied with federal, state or local laws or regulations or

iv.

Any other factor or characteristic of the Loans that would be material to the likelihood that the issuer of the Notes will pay interest and principal in accordance with applicable terms and conditions.

We are required to be independent of Bluegreen and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

1 April 2022

Exhibit 1 to Attachment A

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Sample Characteristics and Source Documents

Sample Characteristic	Preliminary Data File Field Name	Source Document(s)	Note(s)

Loan number	Loan #	Promissory Note, Purchase Agreement or LSAMS Screen Shots	i.
Original principal balance	Orig Note	Promissory Note or Purchase Agreement
Current principal balance	Cur Prin	LSAMS Screen Shots	ii.
Remaining term	Rem Term	LSAMS Screen Shots and recalculation	ii., iii.
Coupon rate	Int Rate	(a) Promissory Note or Purchase Agreement or (b) Revision of Terms	iv.
Obligor state	Cust State	(a) Purchase Agreement or Promissory Note or (b) LSAMS Screen Shots	v., vi.
Obligor country	Owner Cntyr	Purchase Agreement or Promissory Note	vi.
Resort name	Resort	Promissory Note or Purchase Agreement	vi., vii.
Original term	Orig Term	Promissory Note or Purchase Agreement
Days delinquent	Days Delq	LSAMS Screen Shots and recalculation	ii., viii.
FICO score	Credit	LSAMS Screen Shots	ix.
Origination date	Orig Date	Promissory Note or Purchase Agreement
Purchase price	Purch Price	Purchase Agreement	x.
Extension	Extn Date	Extension Agreement	xi.

Exhibit 1 to Attachment A

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Notes:

For identification purposes only.

ii.

Bluegreen indicated that certain of the LSAMS Screen Shots contained account activity that occurred after the Preliminary Cut-Off Date. For the purpose of comparing the indicated Sample Characteristics for each Sample Loan, Bluegreen instructed us to only consider account activity shown in the LSAMS Screen Shots that occurred on or prior to the Preliminary Cut-Off Date.

iii.

For the purpose of comparing the remaining term Sample Characteristic for each Sample Loan, Bluegreen instructed us to recalculate the remaining term by:

Calculating the number of days (assuming a 360-day year) between the:

Next due date (“Next Due”), as shown in the LSAMS Screen Shots, and

ii.

Maturity date (“Mat Date”), as shown on the Preliminary Data File,

Dividing the result obtained above by 30,

Adding one to the result obtained above and

Rounding the result obtained above to the nearest integer

(and in accordance with any other applicable note(s)).

iv.

For the purpose of comparing the coupon rate Sample Characteristic for each Sample Loan (except for Sample Loan Numbers 46, 57, 80, 123 and 131), Bluegreen instructed us to use the Promissory Note or Purchase Agreement, as applicable, as the Source Document.

For the purpose of comparing the coupon rate Sample Characteristic for Sample Loan Numbers 46, 57, 80, 123 and 131, Bluegreen instructed us to use the LSAMS Screen Shots as the Source Document.

For the purpose of comparing the obligor state Sample Characteristic for each Sample Loan (except for Sample Loan Numbers 31 and 69), Bluegreen instructed us to use the Purchase Agreement or Promissory Note, as applicable, as the Source Document (and in accordance with any other applicable note(s)).

For the purpose of comparing the obligor state Sample Characteristic for Sample Loan Numbers 31 and 69, Bluegreen instructed us to use the LSAMS Screen Shots as the Source Document.

vi.

For the purpose of comparing the indicated Sample Characteristics for each Sample Loan, Bluegreen instructed us to ignore differences due to abbreviation, truncation or spelling errors (and in accordance with any other applicable note(s)).

vii.

For the purpose of comparing the resort name Sample Characteristic for each Sample Loan, Bluegreen instructed us to note agreement with a resort name value of “Grande Villas at World Golf Village,” as shown on the Preliminary Data File, if the corresponding resort name value, as shown in the applicable

Exhibit 1 to Attachment A

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Source Document, was “The Resort at World Golf Village” (and in accordance with any other applicable note(s)).

Exhibit 1 to Attachment A

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Notes: (continued)

viii.

For the purpose of comparing the days delinquent Sample Characteristic for each Sample Loan, Bluegreen instructed us to recalculate the days delinquent as the maximum of:

The result of the difference in days between the:

Preliminary Cut-Off Date and

ii.

Next due date (“Next Due”), as shown in the LSAMS Screen Shots,

and

Zero

(and in accordance with any other applicable note(s)).

ix.

For the purpose of comparing the FICO score Sample Characteristic for each Sample Loan (except for the Sample Loans described in the succeeding paragraph(s) of this note), Bluegreen instructed us to use the highest FICO score, all as shown in the LSAMS Screen Shots. We performed no procedures to reconcile any differences that may exist relating to the information shown in the LSAMS Screen Shots.

Bluegreen instructed us not to compare the FICO score Sample Characteristic for any Sample Loan with a FICO score value of “0,” as shown on the Preliminary Data File.

For the purpose of comparing the purchase price Sample Characteristic for each Sample Loan, Bluegreen instructed us to compare the purchase price, as shown on the Preliminary Data File, to the purchase price, as shown in the Purchase Agreement, truncated to the nearest integer.

xi.

Bluegreen instructed us not to compare the extension Sample Characteristic for any Sample Loan with an extension value of <blank>, as shown on the Preliminary Data File.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by Bluegreen described in the notes above.