Fannie Mae launches AI fraud detection technology partnership with Palantir

Fannie Mae has launched an AI-powered Crime Detection Unit in partnership with Palantir to enhance fraud detection in the U.S. housing market. This new platform aims to efficiently detect and prevent mortgage fraud, potentially saving millions in losses.

Palantir’s technology will monitor transactions for suspicious activities, aiding investigations. Fannie Mae’s Chairman, William J. Pulte, emphasized the commitment to “rooting out bad actors” in the housing system.

President Priscilla Almodovar noted that the AI integration will analyze vast datasets for previously undetectable patterns. Palantir's CEO, Alex Karp, stated this collaboration will revolutionize the fight against mortgage fraud, protecting American homeowners and taxpayers.