Latest news with #CrimeDetectionUnit
Yahoo
30-05-2025
- Business
- Yahoo
Two of the biggest names in the Trump trade are teaming up to uncover mortgage fraud
Palantir and Fannie Mae are teaming up for an effort to uncover mortgage fraud. Fannie says the partnership will deploy Palantir's AI tools to detect suspicious activity. Shares of both Palantir and Fannie Mae have rallied sharply since Trump's election win. Palantir and Fannie Mae, two firms that have been at the heart of the Trump trade, are teaming up for a push to root out fraud in the mortgage market. The government-sponsored mortgage finance giant announced on Wednesday that it would use artificial intelligence tools developed by Palantir in its newly created Crime Detection Unit. "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 said in a statement. "This partnership with Fannie Mae will set off a revolution in how we combat mortgage fraud in this country. We are bringing the fight directly to anyone who attempts to defraud our mortgage system and exploit hardworking Americans," Alex Karp, co-founder and CEO of Palantir, said. The team-up is the latest win for Palantir, which has been inking more contracts with the federal government since Trump entered the White House. The AI software company is reportedly helping the Internal Revenue Service with a huge data project, Wired wrote in April. The tech firm is also working with US Immigration and Customs Enforcement on a visa-tracking program, with ICE paying $30 million for the company's software tools. Palantir stock is up 62% year-to-date and has gained almost 150% since the November election. Meanwhile, shares of Fannie Mae have soared on the possibility that the Trump administration will release it and fellow mortgage giant Freddie Mac from government control. The two companies were taken over in the aftermath of the 2008 housing crisis as the government feared their potential insolvency could further rock the economy. Their profits have been collected by the US Treasury since. Fannie Mae stock is up almost 200% in 2025. Read the original article on Business Insider
Yahoo
30-05-2025
- Business
- Yahoo
Two of the biggest names in the Trump trade are teaming up to uncover mortgage fraud
Palantir and Fannie Mae are teaming up for an effort to uncover mortgage fraud. Fannie says the partnership will deploy Palantir's AI tools to detect suspicious activity. Shares of both Palantir and Fannie Mae have rallied sharply since Trump's election win. Palantir and Fannie Mae, two firms that have been at the heart of the Trump trade, are teaming up for a push to root out fraud in the mortgage market. The government-sponsored mortgage finance giant announced on Wednesday that it would use artificial intelligence tools developed by Palantir in its newly created Crime Detection Unit. "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 said in a statement. "This partnership with Fannie Mae will set off a revolution in how we combat mortgage fraud in this country. We are bringing the fight directly to anyone who attempts to defraud our mortgage system and exploit hardworking Americans," Alex Karp, co-founder and CEO of Palantir, said. The team-up is the latest win for Palantir, which has been inking more contracts with the federal government since Trump entered the White House. The AI software company is reportedly helping the Internal Revenue Service with a huge data project, Wired wrote in April. The tech firm is also working with US Immigration and Customs Enforcement on a visa-tracking program, with ICE paying $30 million for the company's software tools. Palantir stock is up 62% year-to-date and has gained almost 150% since the November election. Meanwhile, shares of Fannie Mae have soared on the possibility that the Trump administration will release it and fellow mortgage giant Freddie Mac from government control. The two companies were taken over in the aftermath of the 2008 housing crisis as the government feared their potential insolvency could further rock the economy. Their profits have been collected by the US Treasury since. Fannie Mae stock is up almost 200% in 2025. Read the original article on Business Insider Sign in to access your portfolio
Business Insider
29-05-2025
- Business
- Business Insider
Two of the biggest names in the Trump trade are teaming up to uncover mortgage fraud
Palantir and Fannie Mae are teaming up for an effort to uncover mortgage fraud. Fannie says the partnership will deploy Palantir's AI tools to detect suspicious activity. Shares of both Palantir and Fannie Mae have rallied sharply since Trump's election win. Palantir and Fannie Mae, two firms that have been at the heart of the Trump trade, are teaming up for a push to root out fraud in the mortgage market. The government-sponsored mortgage finance giant announced on Wednesday that it would use artificial intelligence tools developed by Palantir in its newly created Crime Detection Unit. "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 said in a statement. "This partnership with Fannie Mae will set off a revolution in how we combat mortgage fraud in this country. We are bringing the fight directly to anyone who attempts to defraud our mortgage system and exploit hardworking Americans," Alex Karp, co-founder and CEO of Palantir, said. The team-up is the latest win for Palantir, which has been inking more contracts with the federal government since Trump entered the White House. The AI software company is reportedly helping the Internal Revenue Service with a huge data project, Wired wrote in April. The tech firm is also working with US Immigration and Customs Enforcement on a visa-tracking program, with ICE paying $30 million for the company's software tools. Palantir stock is up 62% year-to-date and has gained almost 150% since the November election. Meanwhile, shares of Fannie Mae have soared on the possibility that the Trump administration will release it and fellow mortgage giant Freddie Mac from government control. The two companies were taken over in the aftermath of the 2008 housing crisis as the government feared their potential insolvency could further rock the economy. Their profits have been collected by the US Treasury since. Fannie Mae stock is up almost 200% in 2025.
Yahoo
28-05-2025
- Business
- Yahoo
Fannie Mae Launches AI Fraud Detection Technology Partnership with Palantir
Fannie Mae's Crime Detection Unit Will Boost Safety and Soundness and Save Millions by Preventing Future Fraud Losses in U.S. Mortgage Market WASHINGTON, May 28, 2025 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) announced the launch today of its AI-powered Crime Detection Unit in partnership with leading AI software company Palantir. 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. Palantir designs and deploys artificial intelligence and machine learning technology used by government agencies and commercial clients. The company's technology provides expansive monitoring for anomalous transactions, activities, and behaviors to help companies detect suspicious activity and trigger investigative action. "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," said Fannie Mae Chairman William J. Pulte. "By integrating this leading AI technology, we will look across millions of datasets to detect patterns that were previously undetectable," said Priscilla Almodovar, Fannie Mae's president and chief executive officer. "This new partnership will combat mortgage fraud, helping to safeguard the U.S. mortgage market for lenders, homebuyers, and taxpayers." Fannie Mae has more than $4.3 trillion in assets and plays a foundational role in the U.S. housing market. The company is the largest holder of residential mortgage debt outstanding in the country, owning or guaranteeing an estimated one in four single-family mortgages and 20 percent of multifamily mortgages in the U.S. "This partnership with Fannie Mae will set off a revolution in how we combat mortgage fraud in this country. We are bringing the fight directly to anyone who attempts to defraud our mortgage system and exploit hardworking Americans," said Alex Karp, co-founder and chief executive officer of Palantir Technologies. This release includes forward-looking statements, including statements about Fannie Mae's and Palantir's plans and expectations with respect to the Crime Detection Unit and the impact of the Crime Detection Unit on Fannie Mae's business and financial results, and on the U.S. housing market. Actual results and events may turn out to be very different from these statements. Factors that may lead to different results and events are discussed in "Forward-Looking Statements" and elsewhere in the company's quarterly report on Form 10-Q for the quarter ended March 31, 2025, and in "Risk Factors," "Forward-Looking Statements" and elsewhere in the company's Form 10-K for the year ended December 31, 2024. The company's forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under the federal securities laws. Follow Fannie Fannie Mae Newsroomhttps:// Fannie Mae Resource Center:1-800-2FANNIE (800-232-6643) View original content to download multimedia: SOURCE Fannie Mae Sign in to access your portfolio
