Rep. Katie Porter asks HUD Sec. Ben Carson if he can explain disparities in REO rates, which are typically homes owned by banks in foreclosure. Carson doesn't seem to hear her, responding: 'An oreo?' 'No, not an Oreo,' Porter says. 'An R-E-O.'
Housing Secretary Ben Carson exchange with House Democrat Katie Porter in which he appeared to mix up the common foreclosure term"REO" with Oreo cookies prompted so much attention on social media on Tuesday that the cabinet member has offered to send a package of the popular chocolate-cream cookies her way.REO refers to"real estate-owned properties," which are typically homes owned by banks in foreclosure."Real estate?" he asked.
I asked @SecretaryCarson about REOs - a basic term related to foreclosure - at a hearing today. He thought I was referring to a chocolate sandwich cookie. No, really. pic.twitter.com/cYekJAkRag OH, REO! Thanks, @RepKatiePorter. Enjoying a few post-hearing snacks. Sending some your way! pic.twitter.com/q4MMTBWVUI
Rep. Nydia Velazquez, a New York Democrat, called Carson’s proposed budget “shameful” and “immoral” because she said it didn’t include enough money to address the nation’s housing crisis, citing the more than 4 million people waiting for housing assistance.
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