Fannie Mae launches AI crime detection unit

Plus: Mortgage delinquencies flat in March

June 02, 2025

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Disclaimer: Average mortgage rates as of May 30, 2025. © MND Daily Rate Index.

1. Mortgage delinquencies flat in March

Mortgage delinquency rates held steady in March at 2.8%, unchanged from a year earlier, according to new data from Cotality. Early-stage and adverse delinquencies also remained flat, while serious delinquencies ticked up slightly to 1%, from 0.9% a year ago.

  • Areas hit by natural disasters, like Asheville, NC, and Tampa, FL, led in delinquency increases — a common trend in the 9–12 months after such events.

Cotality economists said delinquency rates are likely to stay low this year, barring major shifts in employment. “Mortgage delinquency rates held steady at a low level… and will follow movements in the job market,” said senior economist Molly Boesel.

2. Fannie Mae launches AI crime detection unit

Fannie Mae has unveiled a new AI-powered Crime Detection Unit in partnership with Palantir to crack down on mortgage fraud, as momentum builds to relist Fannie and Freddie Mac on a major stock exchange.

The new unit, backed by Palantir's government-grade analytics, will scan for suspicious mortgage activity using machine learning. FHFA Director Bill Pulte said the move will “increase safety and soundness” in the housing market.

“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.

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3. More Nuggets

📝 The top 10 home builders of 2025. (Industry Dive)

🏘️ The housing market now has 500,000 more home sellers than homebuyers. (Redfin)

⚖️ DOJ withdraws objection to MLS PIN settlement, clearing the way for preliminary approval. (HousingWire)

🔊 Jamie Dimon says US needs to ‘get our own act together’. (The Hill)

⛓️ Fannie tags Michael Lerner with foreclosure as family feud simmers. (TheRealDeal)

4. Inflation rate slows and almost hits Fed’s 2% goal

The inflation rate slowed to 2.1% in April, nearing the Federal Reserve's 2% goal, according to data released Friday. The personal-consumption expenditures (PCE) price index increased by just 0.1% in April, marking two consecutive months of minimal growth and matching the lowest inflation since the pandemic began.

While these numbers indicate progress toward the Fed’s target, uncertainty remains over whether this improvement can persist amid ongoing trade tensions.

“If there wasn’t a trade war going on, we all might have been impressed by the resumption of inflation progress and the return of headline inflation to target,” said Ali Jaffery, economist at CIBC Capital Markets. “Today’s data and the unpredictability of trade policy in Washington will reinforce the Fed’s desire to wait things out.”

5. Shellpoint, BNY Mellon seek dismissal of 'zombie mortgage' class action

NewRez LLC (DBA Shellpoint Mortgage) and BNY Mellon are asking a Massachusetts federal court to toss a class action accusing them of reviving second mortgages long after bankruptcy discharges.

Plaintiff Eva Hodges claims the companies violated consumer laws by failing to send statements for over a decade, then demanding $150,000 in interest and fees on a dormant HELOC.

The defendants argue there's no legal duty to send statements post-bankruptcy and call the case a “backdoor” attempt to revive a dropped TILA claim.

☀️ You’re all caught up. See you on Wednesday!

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