Palantir's Trump bonanza continues with Fannie Mae contract to fight fraud
(2025/05/30)
- Reference: 1748557510
- News link: https://www.theregister.co.uk/2025/05/29/fannie_mae_palantir_ai/
- Source link:
Trump administration darling Palantir has scored another data-guzzling win by partnering with Fannie Mae to detect mortgage fraud using AI.
Fannie Mae, a US government-backed outfit that buys mortgages from lenders and bundles them into mortgage-backed securities, will partner with Palantir to create a new "AI-powered Crime Detection Unit," the mortgage giant said in an [1]announcement yesterday. Fannie Mae said using Palantir AI in its new CDU will save the US housing market "millions in future fraud losses."
According to the announcement, Palantir will deploy technology that can look at mortgage paperwork for "anomalous transactions, activities and behaviors" to help companies detect suspicious activity and trigger an investigation.
[2]
"By integrating this leading AI technology, we will look across millions of datasets to detect patterns that were previously undetectable," wrote Fannie Mae CEO and President Priscilla Almodovar in a canned quote.
[3]
[4]
The announcement of the deal didn't include many details, and we didn't get responses to questions from either Palantir or Fannie Mae. But Almodovar, Palantir CEO Alex Karp, and Federal Housing Finance Agency (Fannie Mae's federal government [5]conservator ) director Bill Pulte shared a bit more information at a press conference yesterday.
According to Almodovar, Fannie Mae's prior fraud posture was reactive - it was only able to identify financial crimes if it was clued into an issue. She [6]told reporters that an exercise using the Palantir tech that will be deployed for the new unit was able to review a stack of financial documents and identify fraud in as little as 10 seconds, while human auditors could take months of work to find flaws in the same paperwork.
[7]
Pulte [8]reportedly said that Freddie Mac, another government-sponsored entity that bundles mortgage-backed securities like Fannie Mae, but with a focus on smaller banks and credit unions instead of large commercial banks and lenders, may end up with a similar system if the Fannie Mae partnership proves successful.
That's a big "if."
[9]Palantir designed to 'power the West to its obvious innate superiority,' says CEO
[10]We can't make this stuff up: Palantir, Anduril form fellowship for AI adventures
[11]One of Britain's largest health trusts says 'no ta' to Palantir-run data platform – for now
[12]Palantir suggests 'common operating system' for UK govt data
As we noted in a story earlier this month, Palantir's [13]deal with the UK National Health Service to help build a new Federated Data Platform has been imperfect, and a number of hospitals in the UK have [14]complained that the system was a step backward in terms of functionality.
Palantir has seen its fortunes rise considerably under the Trump administration. Karp has come out against " [15]woke " ideology in a similar manner to the current President, and the company's CTO Shyam Sankar has expressed [16]support for DOGE's efforts to slash government spending.
The Trump administration has so far tapped Palantir to build new software to [17]speed up deportations , while the Pentagon recently upped the ceiling on the [18]controversial [19]Maven Smart System contract, originally worth $480 million, to [20]more than $1 billion. ®
Get our [21]Tech Resources
[1] https://www.fanniemae.com/newsroom/fannie-mae-news/fannie-mae-launches-ai-fraud-detection-technology-partnership-palantir
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://www.fhfa.gov/conservatorship/history
[6] https://fedscoop.com/fannie-mae-partners-with-palantir-on-mortgage-fraud-detection-tech/
[7] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[8] https://www.cnbc.com/2025/05/28/palantir-teams-up-with-fannie-mae-in-ai-push-to-sniff-out-mortgage-fraud.html
[9] https://www.theregister.com/2025/02/04/palantir_karp_comments/
[10] https://www.theregister.com/2024/12/09/palantir_anduril_alliance/
[11] https://www.theregister.com/2025/05/23/greater_manchester_palantir_snub/
[12] https://www.theregister.com/2025/03/25/palantir_covid_inquiry_comments/
[13] https://www.theregister.com/2023/11/22/palantir_wins_nhs_contract/
[14] https://www.theregister.com/2025/05/16/nhs_hospitals_palantir/
[15] https://www.theregister.com/2024/05/07/palantirs_forecasts_disappoint_the_market/
[16] https://www.theregister.com/2025/05/06/palantir_loves_doge/
[17] https://www.theregister.com/2025/04/21/ice_enlists_palantir_to_develop/
[18] https://www.theregister.com/2018/06/02/ai_roundup/
[19] https://www.theregister.com/2024/05/30/palantir_us_army/
[20] https://defensescoop.com/2025/05/23/dod-palantir-maven-smart-system-contract-increase/
[21] https://whitepapers.theregister.com/
Fannie Mae, a US government-backed outfit that buys mortgages from lenders and bundles them into mortgage-backed securities, will partner with Palantir to create a new "AI-powered Crime Detection Unit," the mortgage giant said in an [1]announcement yesterday. Fannie Mae said using Palantir AI in its new CDU will save the US housing market "millions in future fraud losses."
According to the announcement, Palantir will deploy technology that can look at mortgage paperwork for "anomalous transactions, activities and behaviors" to help companies detect suspicious activity and trigger an investigation.
[2]
"By integrating this leading AI technology, we will look across millions of datasets to detect patterns that were previously undetectable," wrote Fannie Mae CEO and President Priscilla Almodovar in a canned quote.
[3]
[4]
The announcement of the deal didn't include many details, and we didn't get responses to questions from either Palantir or Fannie Mae. But Almodovar, Palantir CEO Alex Karp, and Federal Housing Finance Agency (Fannie Mae's federal government [5]conservator ) director Bill Pulte shared a bit more information at a press conference yesterday.
According to Almodovar, Fannie Mae's prior fraud posture was reactive - it was only able to identify financial crimes if it was clued into an issue. She [6]told reporters that an exercise using the Palantir tech that will be deployed for the new unit was able to review a stack of financial documents and identify fraud in as little as 10 seconds, while human auditors could take months of work to find flaws in the same paperwork.
[7]
Pulte [8]reportedly said that Freddie Mac, another government-sponsored entity that bundles mortgage-backed securities like Fannie Mae, but with a focus on smaller banks and credit unions instead of large commercial banks and lenders, may end up with a similar system if the Fannie Mae partnership proves successful.
That's a big "if."
[9]Palantir designed to 'power the West to its obvious innate superiority,' says CEO
[10]We can't make this stuff up: Palantir, Anduril form fellowship for AI adventures
[11]One of Britain's largest health trusts says 'no ta' to Palantir-run data platform – for now
[12]Palantir suggests 'common operating system' for UK govt data
As we noted in a story earlier this month, Palantir's [13]deal with the UK National Health Service to help build a new Federated Data Platform has been imperfect, and a number of hospitals in the UK have [14]complained that the system was a step backward in terms of functionality.
Palantir has seen its fortunes rise considerably under the Trump administration. Karp has come out against " [15]woke " ideology in a similar manner to the current President, and the company's CTO Shyam Sankar has expressed [16]support for DOGE's efforts to slash government spending.
The Trump administration has so far tapped Palantir to build new software to [17]speed up deportations , while the Pentagon recently upped the ceiling on the [18]controversial [19]Maven Smart System contract, originally worth $480 million, to [20]more than $1 billion. ®
Get our [21]Tech Resources
[1] https://www.fanniemae.com/newsroom/fannie-mae-news/fannie-mae-launches-ai-fraud-detection-technology-partnership-palantir
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://www.fhfa.gov/conservatorship/history
[6] https://fedscoop.com/fannie-mae-partners-with-palantir-on-mortgage-fraud-detection-tech/
[7] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aDktWPzqMKv2VkZm9X0ZhwAAAdA&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[8] https://www.cnbc.com/2025/05/28/palantir-teams-up-with-fannie-mae-in-ai-push-to-sniff-out-mortgage-fraud.html
[9] https://www.theregister.com/2025/02/04/palantir_karp_comments/
[10] https://www.theregister.com/2024/12/09/palantir_anduril_alliance/
[11] https://www.theregister.com/2025/05/23/greater_manchester_palantir_snub/
[12] https://www.theregister.com/2025/03/25/palantir_covid_inquiry_comments/
[13] https://www.theregister.com/2023/11/22/palantir_wins_nhs_contract/
[14] https://www.theregister.com/2025/05/16/nhs_hospitals_palantir/
[15] https://www.theregister.com/2024/05/07/palantirs_forecasts_disappoint_the_market/
[16] https://www.theregister.com/2025/05/06/palantir_loves_doge/
[17] https://www.theregister.com/2025/04/21/ice_enlists_palantir_to_develop/
[18] https://www.theregister.com/2018/06/02/ai_roundup/
[19] https://www.theregister.com/2024/05/30/palantir_us_army/
[20] https://defensescoop.com/2025/05/23/dod-palantir-maven-smart-system-contract-increase/
[21] https://whitepapers.theregister.com/
Anonymous Coward
Woah, wtf did you just write ? DEI has been proven time and time again to fail all concerned parties.
Do you honestly believe that repeating the mantra will make it true ?
Wake up and stop the nonsense, you are helping no one.
The Central Scrutinizer
evidence? citations? bring it on
Intelligent != Moral
An_Old_Dog
intelligent people (the kind you’d want for software development) tend to have a pretty well developed sense of right and wrong
As much as this fact pains me, morality is absolutely not a consequence of, or indicated by, intelligence.
A review of World War II should provide you with a plethora of examples -- on all sides -- of this.
Anonymous Coward
They're 80% hype. Nosedive to come shortly.
I guess they must hope...
spold
..that no-one points the AI Fraud detector too close to home.... lest they get it up their sweet Fannie Adams (yes allowable sp.).
I can only assume that Palantir’s software is shitty and that any project developed in partnership with them is doomed to suffer serious problems. In my experience, intelligent people (the kind you’d want for software development) tend to have a pretty well developed sense of right and wrong and, as such, are unlikely to work for such a morally bankrupt outfit. Furthermore, any complex project benefits from diversity to ensure that all bases are covered, all potential problems are considered. Monocultures do not generally result in good solutions. And, given Palantir’s animosity to diversity, I’d say that any project they work on is a whole spit-roast of f*cked.