Fannie Mae launches AI fraud detection technology partnership with Palantir

Fannie Mae (FNMA) announced the launch of its AI-powered Crime Detection Unit in partnership with AI software company Palantir (PLTR). “The new partnership will expand Fannie Mae’s fraud detection capabilities with leading AI-enabled financial crimes data science and investigations technology. This foundation will power Fannie Mae’s Crime Detection Unit, a new platform that the company believes will help detect and prevent mortgage fraud with speed and precision never before seen in the U.S. housing market. Fannie Mae’s Crime Detection Unit’s capabilities will save the U.S. housing market millions in future fraud losses,” Fannie Mae stated. “No one is above the law. In partnership with Palantir, Fannie Mae’s Crime Detection Unit will increase safety and soundness by rooting out bad actors in our housing system. This cutting-edge AI technology will help us find criminals who try to defraud our system,” added Fannie Mae Chairman William J. Pulte.

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