Housing and Urban Development Secretary Ben Carson tussled awkwardly with Rep. Katie Porter at a hearing over HUD real estate owned — or REO — homes, at one point asking if she was referring to an “Oreo'
Housing and Urban Development Secretary Ben Carson tussled awkwardly with freshman Rep. Katie Porter at a hearing on Tuesday over HUD real estate owned — or REO — homes, at one point asking if she was referring to an “Oreo.”
REO homes are acquired by HUD after a foreclosure on a Federal Housing Agency-insured mortgage, and Porter said foreclosure rates for such properties were higher than for homes not backed by the FHA.She asked Carson to “explain the disparity in REO rates — do you know what an REO is?”“No, not an Oreo. An R-E-O. R-E-O,” Porter said, prompting Carson to offer, “real estate?”
“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, said Porter, who later
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Carson says he'll send Dem a packet of Oreo cookies after odd exchange goes viralRep. 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.'
Leer más »
Dr. Ben CarsonSecretary Of Housing And Urban Development
Leer más »
HUD's Ben Carson broke law with furniture order, GAO saysHUD secretary Ben Carson broke the law when he failed to report an order for a $31,561 dining room table set for his office as well as the installation of an $8,000 dishwasher in the office kitchen, the Government Accountability Office found in a report
Leer más »
Pressed by female lawmaker, Ben Carson urges members to think 'logically'After Rep. Nydia Velazquez challenged Housing Secretary Ben Carson on his budget, Carson responds by urging lawmakers to “think logically rather than just emotionally.' Velazquez called Carson’s proposed housing budget “shameful” and “immoral.”
Leer más »
Ben Carson confuses real estate term REO for Oreo cookieHousing and Urban Development Secretary Ben Carson mistook the real estate term REO for an Oreo cookie when being questioned by Rep. Katie Porter (D-Calif) during a House Financial Services Committee hearing. Carson later tweeted a response to the incident poking fun at himself.
Leer más »
Ben Carson defends HUD proposal to evict 55,000 children of undocumented immigrantsCarson compared his HUD plan to flight attendants telling passengers to put on their oxygen masks before helping others.
Leer más »
Watchdog: Housing department broke the law with $40,000 furniture purchase for Ben CarsonThe Department of Housing and Urban Development broke the law when it spent about $40,000 in 2017 for a new dining set and dishwasher for Secretary Ben Carson's office, according to the Government Accountability Office.
Leer más »
HUD Secretary Ben Carson mixes up a real estate term and Oreo sandwich cookiesAfter the hearing, Ben Carson tweeted a picture of himself sending a pack of 'Double Stuf' Oreos to Rep. Katie Porter.
Leer más »
Ben Carson misheard a housing term as ‘Oreo,’ and other tense momentsHUD secretary is grilled during a three-hour hearing before the House Financial Services Committee.
Leer más »
HUD Secretary Ben Carson stumped during congressional hearingThe HUD secretary faced a tough hearing before the House Financial Services Committee on Tuesday.
Leer más »