WASHINGTON – Housing and Urban Development Secretary Ben. Carson apparently misheard the term as "Oreo," the popular sandwich cookie. “I’d also like you to get back to me, if you don’t mind, to.
"Do you know what an REO is?" Porter asked. "An Oreo?" Carson replied, apparently thinking of cookies. After that exchange, Carson said he would get Porter in touch with "people who do that" (deal with foreclosed properties) at HUD, though that was something she was already somewhat of an expert, having been California’s independent monitor of banks in a nationwide $25 billion.
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Housing and urban development secretary ben carson didn’t seem to know what a congresswoman was talking about when she asked a question related to foreclosures during a congressional hearing on.
HUD secretary Ben Carson is making a joke about his not knowing the difference between houses seized by banks and sandwich cookies. During a house financial services Committee hearing Tuesday.
WASHINGTON – An REO, or "real estate owned," refers to a kind of property owned by a lender, like a bank, after a foreclosure. An Oreo is a kind of delicious sandwich cookie. In a House Financial Services Committee hearing on Tuesday morning, Secretary of Housing and Urban Development Ben Carson mixed the two terms up.
Ben Carson was asked questions a HUD secretary should’ve been able to answer. He ended up sounding like a student doing a book report on a book he hadn’t read. ben carson flunks multiple tests on.
"Real estate owned – that’s what happens when a property goes into foreclosure, we call it an REO, and FHA loans have much higher REOs, that is, they go into foreclosure rather than into loss mitigation or to non-foreclosure alternatives like short sales, than comparable loans" at Fannie Mae and Freddie Mac, Porter explained, as if.
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It’s also a term with which HUD Secretary Ben Carson is apparently unfamiliar. Asked by Porter about such homes-"do you know what an REO is?"-Carson replied, "An Oreo?". Carson doesn’t.
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