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MrLSU
LSU Fan
New York/New Orleans/Melbourne/30A
Member since Jan 2004
13311 posts

HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
Washington Examiner

Housing and Urban Development Secretary Ben Carson on Tuesday confused an acronym used to describe foreclosed-on property with a sweet snack.

Carson, 67, made the stumble during an appearance before the House Financial Services Committee, which is conducting oversight of his agency.

"I'd also like you to get back to me, if you don't mind, to explain the disparity in REO rates. Do you know what an REO is?" Rep. Katie Porter, D-Calif., asked.


"An Oreo?" the former neurosurgeon replied.

"No, not an Oreo. An R-E-O," Porter said.

"Real estate?" Carson responded.

"What's the 'O' stand for?" the freshman lawmaker pressed.

"E-organization?" Carson tried.

"Owned. Real estate owned. That's what happens when a property goes to foreclosure. We call it an REO," Porter said.

Image: https://pbs.twimg.com/media/D7HX8s9WwAEGuRK.jpg
Image: https://pbs.twimg.com/media/D7HX8s9W4AIE3YN.jpg





FooManChoo
Georgia Fan
Member since Dec 2012
26264 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
Oreos make for better conversations, IMO.


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122
Y.A. Tittle
Winthrop Fan
Member since Sep 2003
76063 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

explain the disparity in REO rates. Do you know what an REO is?"


Is it really that common of a term? When I google "REO rate" all I get, with a couple of seemingly obscure exceptions, are references to this silly incident.

Got HEEEEEM.


MrLSU
LSU Fan
New York/New Orleans/Melbourne/30A
Member since Jan 2004
13311 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

Is it really that common of a term? When I google "REO rate" all I get, with a couple of seemingly obscure exceptions, are references to this silly incident.

Got HEEEEEM.


To answer your question the answer is simply YES it is that common of a term.

Now to his defense I thought she said Oreo too but still you are the head of HUD and REO is as common as the word foreclosure.


Crimson Wraith
Alabama Fan
Member since Jan 2014
14410 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie


gizmoflak
Georgetown Fan
Member since May 2007
10898 posts
 Online 

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
REO is a common term to those in the RE business. But I can see where outsiders haven't heard it


MrLSU
LSU Fan
New York/New Orleans/Melbourne/30A
Member since Jan 2004
13311 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
If you recall when Carson ran for President he also got confused with Hamas by thinking the question was about Hummus.


PsychTiger
LSU Fan
Charleston
Member since Jul 2004
66930 posts
 Online 

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

thinking it was a Cookie


He spent too much time with our former AG, the Keebler Elf.


HailHailtoMichigan!
LSU Fan
Mission Viejo, CA
Member since Mar 2012
56180 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
This fat ugly bitch is my rep


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21
SSpaniel
Memphis Fan
Germantown
Member since Feb 2013
19649 posts
 Online 

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

If you recall when Carson ran for President he also got confused with Hamas by thinking the question was about Hummus.


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10
Crimson Wraith
Alabama Fan
Member since Jan 2014
14410 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
dim members of Congress believe Guam might tip over and that we've had a manned mission to Mars.

I'll give the nod to the neurosurgeon on this one.


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93
Sentrius
USA Fan
Fort Rozz
Member since Jun 2011
56505 posts
 Online 

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
That's a rather plain looking and absolutely ordinary office for a cabinet secretary.
This post was edited on 5/21 at 5:47 pm


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dstone12
East Carolina Fan
Member since Jan 2007
9603 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
Marine corpse or marine Corp



Crimson Wraith
Alabama Fan
Member since Jan 2014
14410 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

Marine corpse or marine Corp



57 states ...


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22
kcon70
LSU Fan
Houston, TX
Member since Sep 2016
2535 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
MrLSU trying to make it racial. Picking on am the black man.


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31
Dale51
Member since Oct 2016
26856 posts
 Online 

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

Now to his defense I thought she said Oreo too but still you are the head of HUD and REO is as common as the word foreclosure.


So what? What do you imagine it means as far as Carson goes?


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stout
Arizona Fan
Back in God's Country
Member since Sep 2006
140311 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
quote:

"Owned. Real estate owned. That's what happens when a property goes to foreclosure. We call it an REO," Porter said


I am in the foreclosure business and deal with this in multiple states for all the big banks and HUD, VA, FHA, etc and I would like to say that technically she is wrong.

There are many stages to the foreclosure process. There is pre-sale, post sale, pre-conveyance, post conveyance, reconveyed, etc. It all depends on where in the legal process the house is. REO is only used once the lender/insurer takes the property back and a writ of possession is issued aka post sale. Most commonly REO is used by banks when they can't convey a property to the insurer (HUD, VA, etc) and it is on their books. HUD doesn't usually refer to their inventory as REO for example so I can see where Ben Carson might not use that term often.

What a lame "gotcha" article this is.

What disparity was she referring to? REO/foreclosure rates are the lowest they have been since the great recession due to the Trump economy.


Dawgfanman
Member since Jun 2015
7670 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
White bitch born to priveledge attempts to embarrass a black self made American success story for political gain. People should be more kind to their fellow human beings.


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61
EastBankTiger
LSU Fan
A little west of Hoover Dam
Member since Dec 2003
16593 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
Stout, I don't know if this matters in the scheme of what you stated but I did notice this regarding Porter...In March 2012, California Attorney General Kamala Harris appointed Porter to be the state's independent monitor of banks in a nationwide $25 billion mortgage settlement. As monitor, she oversaw the banks' implementation of $9.5 billion in settlement reforms for Californians.


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NeonSunburst
USA Fan
The Delta
Member since Oct 2010
952 posts

re: HUD Secretary Ben Carson gets confused on REO question thinking it was a Cookie
I was thinking he was probably just hungry and food was on his mind.

We all have these brain farts sometimes
This post was edited on 5/21 at 5:56 pm


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