PLTR: Palantir work with Fannie Mae, Freddie Mac to fight Mortgage Fraud
Fannie Mae announced that it will work with defense tech company Palantir to identify mortgage fraud
Quick overview
- Fannie Mae is partnering with Palantir to enhance its ability to identify mortgage fraud, particularly in the multi-family housing sector.
- Palantir's AI technology has demonstrated the capability to detect fraud in seconds, significantly faster than traditional methods.
- The collaboration reflects a growing relationship between the federal government and tech companies, particularly in the context of the Trump administration's priorities.
- The Federal Housing Financing Agency is considering extending this program to Freddie Mac as part of broader efforts to reduce costs and improve efficiency.
Fannie Mae announced that it will work with defense tech company Palantir to identify mortgage fraud, strengthening the relationship between the federal government and a business that has benefited greatly from the second Trump administration.
Fannie Mae’s chief, Priscilla Almodovar, stated the company wants to “identify fraud more proactively” with Palantir’s assistance, beginning with its multi-family housing division.
According to an early test, Palantir’s technology, which incorporates artificial intelligence components, could spot fraud in seconds that took two months for human investigators to discover, she said. Following President Donald Trump’s election victory in November, Palantir’s stock has increased by over 140 percent.
Technology stocks play a part in modernizing the United States. It appears to be a good fit for the administration’s declared priorities because it supports the military and aids in government cost reduction.
Fannie Mae and Freddie Mac have been under the Federal Housing Financing Agency’s conservatorship since 2008.
The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation are the two organizations’ official names. In addition to discussing a possible collaboration with Elon Musk’s xAI company, FHFA director William Pulte stated on Wednesday that the Palantir program may eventually be extended to Freddie Mac.
“There are no limits. We’re not just dealing with fraud. Pulte stated, “We want to remove costs from the system if possible.” Fannie Mae’s payment to Palantir for this service was not specified in the press release. A move to remove Fannie and Freddie from conservatorship and restore them to a more independent status
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