Palantir teams up with Fannie Mae in AI push to sniff out mortgage fraud

Priscilla Almodovar, Fannie Mae CEO, said Wednesday at a press event that the goal is for the firm to "identify fraud more proactively" with the help of Palantir, starting with its multi-family housing business. CEO Alex Karp said Wednesday that the mortgage fraud detection can be done in a way that "protects the underlying data and protects the privacy of the people submitting their forms." Fannie Mae and Freddie Mac are government-sponsored enterprises that have been under the conservatorship of the Federal Housing Financing Agency since 2008. The official names of the two enterprises are the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, respectively. The press release did not include a dollar amount that Fannie Mae would pay to Palantir for this service.