FinCEN Reports Mortgage Fraud SARs Increased in 2011 Even as Fourth Quarter Level Decreased

VIENNA, VA – April 23, 2012 – (RealEstateRama) — The Financial Crimes Enforcement Network today released its full year 2011 update of mortgage loan fraud reported suspicious activity reports (MLF SARs) that shows financial institutions submitted 92,028 MLF SARs last year, a 31 percent increase over the 70,472 submitted in 2010. The increase can primarily be attributable to mortgage repurchase demands.