SERVICING LIABILITY COMMERCIAL FINANCE

12 Months Ended

Sep. 30, 2011

SERVICING LIABILITY COMMERCIAL FINANCE [Abstract]

NOTE 13 – SERVICING LIABILITY – COMMERCIAL FINANCE

During fiscal 2010, the Company sold a portfolio of leases and loans to RCC. Although it remained as the servicer for the portfolio, the Company agreed not to charge any servicing fees. Accordingly, the Company recorded a $2.5 million liability for the present value of the estimated costs to service the portfolio. The liability was eliminated in the formation of LEAF in January 2011 and its reacquisition of the portfolio from RCC. The table below summarizes the activity for the servicing liability (in thousands):

	Years Ended
	September 30,
	2011			2010
Balance, beginning of period	$	(2,362	)	$	−
Additions		−			(2,478	)
Amortization (1)		88			116
Elimination of the servicing liability due to the contribution of the RCC portfolio in the formation of LEAF		2,274			−
Balance, end of period	$	−		$	(2,362	)

(1)	Amortization of the servicing liability was included as a reduction of commercial finance revenues in the consolidated statements of operations.