Peter Thiel, who owns stakes in Trump administration ally Elon Musk's companies, founded the AI firm that will be helping identify patterns in Fannie's data that are indicative of misrepresentation. Palantir also is part of a broader AI partnership targeting banks.

Fannie's Wednesday press conference with the head of its regulator, Federal Housing Finance Agency director Bill Pulte, sheds light on one of the ways he's aiming to protect the soundness of Fannie, one of two large mortgage buyers that Trump could partially privatize while preserving a government guarantee.

"We need the technology with the sophistication and scale that Palantir brings," said Fannie Mae CEO Priscilla Almodovar during the event at which the government-sponsored enterprise announced it will be adding a new financial crimes detection platform with the technology.

Pulte has said he will step up information sharing between Fannie and rival Freddie Mac, which also appears to be focusing more on its systems and recently named fintech executive Neil Sarnak an insider-level senior vice president.

The Palantir partnership Fannie has tested could be shared with Freddie later, depending on its outcome.

Pulte explained that weeding out misrepresentation is a priority for him and the fiscally minded Trump administration because it has a high price tag when it occurs. 

Fighting fraud also helps prevent events like the Great Financial Crisis in which a correctly documented ability-to-repay was lacking, he added.

Through such efforts, Pulte said he can "make sure that 2008 never happens again, which is my chief responsibility, and will never happen under President Trump," Pulte said.

Pulte also indicated he will be going after occupancy fraud regardless of who is involved in a reference to a referral to the Department of Justice in which he alleged Trump foe and New York Attorney General Leticia James engaged in such activity.

"I think we're going to find a lot of occupancy fraud," he said.

Palantir's technology seeks to more proactively identify misrepresentation by analyzing patterns in relationships across the many different parties involved in mortgage transactions using secure technology that protects their privacy, according to Alex Karp, Palantir's co-founder and CEO. 

Fraudsters target large entities like Fannie Mae with trillions of dollars in assets, Karp noted.

"What most people misunderstand about the nature of fraud, terrorism and abuse, is that most of the damage is done by the 1% or 2% of professional actors, and they do actually have a way of modeling where they can commit fraud at scale," he said.

Fighting fire with fire in countering that effort could deter what are often global bad actors from targeting U.S.-based entities like Fannie Mae.

Almodovar said Fannie engaged in a "boot camp" with real loan files in which the technology was able to identify fraud within 10 seconds as opposed to the 60 days it took traditional investigators.