On April 23rd, the Financial Crimes Enforcement Network 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. The report also provides clues that there is significant improvement in mortgage lending due diligence since the height of the housing bubble. For example, 40 percent of MLF SAR narratives, where SAR filers provide details of why an activity appears suspicious, indicated the filing institution turned down the subject's loan application, short sale request, or debt elimination attempt because of the suspected fraud reported in the SAR. FinCEN Press Release.