Fannie Mae, Palantir Launch AI Fraud Detection Unit

Fannie Mae has partnered with Palantir Technologies to launch an AI-powered Crime Detection Unit to proactively identify and prevent mortgage fraud, with the expectation of saving the U.S. housing market millions in future losses. The initiative, supported by the Federal Housing Finance Agency (FHFA) and its director Bill Pulte, uses Palantir's advanced AI to analyze millions of mortgage documents and reduce fraud detection times from months to seconds. FHFA is also considering partnerships with other AI firms such as Elon Musk's xAI, signaling a broader industry embrace of cutting-edge technology for fraud prevention. Palantir's tools may later be expanded to Freddie Mac. Fannie Mae, which holds over $4.3 trillion in assets, is adopting these data-driven solutions to enhance security and efficiency in mortgage transactions. The program has been positively received by leading fraud prevention firms as a major step toward a safer and more transparent housing finance system.