Fannie Mae taps AI to help detect fraud
Fannie Mae announced this week that it's launching a crime detection unit powered by artificial intelligence to stamp out mortgage fraud in a way "never before seen in the U.S. housing market."
The crime detection unit will employ AI by Colorado-based software firm Palantir Technologies. The unit will help save the housing market "millions in future fraud losses," Fannie Mae officials said.
"Fannie Mae’s Crime Detection Unit will increase safety and soundness by rooting out bad actors in our housing system," William Pulte, chairman of the mortgage giant, said in a statement. "This cutting-edge AI technology will help us find criminals who try to defraud our system."
With more than $4.3 trillion in assets, Fannie Mae holds the largest amount of residential mortgage debt in the nation.
La Rosa Holdings reports 34% revenue jump
La Rosa Holdings Corp. said Thursday that its revenue grew to $17.5 million in the first quarter of 2025, up from $13.1 million the year prior.
La Rosa operates 26 corporate-owned brokerages across Florida, California, Texas, Georgia, North Carolina, and Puerto Rico. The company also has an escrow settlement and title company in Florida.
Most of the first-quarter growth came from the company's residential services — which jumped from $10.2 million in March 2024 to $14.3 million in March 2025.
La Rosa's revenue growth is also due to the company adding more agents in recent months, CEO Joe La Rosa said.
"As of April 30, 2025, our agent network has grown to over 2,800 agents nationwide," he said in a statement Thursday. "This growth has been entirely organic, as we have chosen to focus on strengthening our core operations rather than pursuing acquisitions."
The number of zombie homes in the US remains flat
Nearly 1.4 million homes in the U.S. are vacant properties — commonly referred to as "zombie homes" — according to data ATTOM released Thursday. That represents about 1.3% of all homes in the nation.
ATTOM's 1.4 million figure marks the 13th straight quarter in which the number of zombie homes were around that mark.
“Thankfully, we’re not seeing a lot of homes sitting vacant due to pending foreclosures, which is good for families, neighborhoods, and the market,” ATTOM CEO Rob Barber said in a statement.
The number of zombie homes increased in 30 states between the second quarter of 2024 and the second quarter of 2025, ATTOM data indicated. Zombie properties decreased in 19 states. North Carolina, Texas, South Carolina, and Kansas saw the biggest percent increases in zombie homes, while Massachusetts, Maryland and New Jersey experienced drops.
“So far, buyers seem to be scooping up these repossessed homes relatively quickly, so they aren’t sitting empty,” Barber said. “Nobody wants to see a return to the days of the 2008 housing crisis, when vacant, blighted homes were common in many parts of the country.”
ATTOM’s analysis shows that 222,358 properties were in foreclosure in the second quarter this year, up 4.8 percent from the first quarter but down 6.3 percent year over year. The number of properties in foreclosure had gone down in each of the previous five quarters.
Appeals Court temporarily pauses tariffs ruling
A federal appeals court has agreed to temporarily pause a ruling that struck down President Donald Trump's tariffs on goods from Canada, China and Mexico.
A small group of U.S. companies sued the Trump White House, arguing that the president's tariff orders were negatively affecting their businesses. White House officials said Trump tapped his authority to levy the tariffs under the 1977 International Emergency Economic Powers Act, or IEEPA.
The lawsuits made their way to the U.S. Court of International Trade, which handles civil lawsuits. The three judges who oversaw the case concluded that Trump overstepped his presidential powers.
“The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,” the judges wrote in their decision.
In a statement Wednesday, the White House said Trump remained committed to restoring America to greatness.
“Foreign countries’ nonreciprocal treatment of the United States has fueled America’s historic and persistent trade deficits," the Trump administration said. "These deficits have created a national emergency that has decimated American communities, left our workers behind, and weakened our defense industrial base — facts that the court did not dispute. It is not for unelected judges to decide how to properly address a national emergency."
Jobless claims rise by 14,000
An additional 240,000 Americans applied for unemployment benefits during the week ending May 24, an uptick of 14,000 from the week prior, the U.S. Department of Labor said Thursday.
Data from the Labor Department shows that Michigan experienced the highest rise in claims last week, at 3,329. California (1,424) and Nebraska (1,322) also accounted for a large chunk of the new claims.
Analysts at Trading Economics said the jobless claims figures suggest that "the labor market may have started to soften amid the heightened economic uncertainty, while increasing continuing claims underscore the slowing hiring pace for firms."
All told, roughly 1.92 million Americans receive unemployment benefits, according to the Labor Department's latest tally.
Residents in this Florida county can apply for storm relief
Some Florida homeowners can have their property repairs or reconstruction paid for through a county program that began accepting applications this week.
The Resilient SRQ Housing Recovery Program is open to Sarasota County homeowners whose homes were damaged during Hurricanes Ian, Debby, Helene or Milton. Applicants must be the property's owner, have a mortgage in good standing, use the home as their primary residence and have a household income at or below 120% of the county's area median income. Homeowners chosen for the program must pay for the repairs upfront, then apply to have the county reimburse the cost.
Any applicant who needs their home reconstructed must have a county-chosen contractor develop a repair plan. The application can be completed online. The county will award the funds on a rolling basis.
Florida will enter its 2025 hurricane season next week, and county officials are urging residents to set a clear plan in case another disastrous storm overtakes the area.
"Ensure your loved ones know what to do and stay informed throughout hurricane season," Sarasota County's emergency management chief, Sandra Tapfumaneyi, said in a statement Thursday. "If you live in an evacuation level, talk to a family member or friend living further inland about staying with them if your area is under an evacuation notice."