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

Oreos make for better conversations, IMO.

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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.

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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.

REO is a common term to those in the RE business. But I can see where outsiders haven't heard it

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thinking it was a Cookie

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

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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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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.

Marine corpse or marine Corp

MrLSU trying to make it racial. Picking on am the black man.

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

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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.

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.