Yahoo News Ben Carson: Trump’s housing secretary confuses real estate term with ‘Oreo’ in disastrous hearing
![US housing secretary Ben Carson confused a common property term with the name of a chocolate biscuit during a disastrous congressional hearing.The 67-year-old appeared before the House Financial Services Committee on Capitol Hill and was asked by Democrat Katie Porter to define “REOs” for the panel.REO stands for “real estate owned” and refers to foreclosed property which has been transferred to a lender, after failing to sell at auction.“I’d also like you to...explain the disparity in REO rates – do you know what an REO is?” Ms Porter asked during the oversight hearing.“An Oreo?” Mr Carson said, naming the popular chocolate biscuit brand.“No, not an Oreo,” Ms Porter said, spelling out the term. ”An R-E-O.”The housing secretary then attempted to define the term but wrongly suggested that the O stood for “organisation” when pressed.“Owned,” Ms Porter said. “Real Estate Owned. That’s what happens when a property goes to foreclosure. We call it an REO.”The congresswoman went on to ask Mr Carson why people with loans backed by the Federal Housing Administration, a government agency, were more likely to enter foreclosure proceedings than those with loans from elsewhere.Donald Trump appointed Mr Carson as secretary for housing and urban development (HUD) in December 2016, despite the former neurosurgeon’s lack of experience.The US Senate confirmed the appointment in March 2017.Mr Carson tweeted an image of himself with a packet of Oreo biscuits after the hearing, in an attempt to make light of his gaffe.“OH, REO! Thanks, [Representative] Katie Porter,” he wrote.“Enjoying a few post-hearing snacks. Sending some your way!”The Democratic congresswoman appeared unamused by the hearing’s outcome.“I asked Secretary Carlson about REOs – a basic term related to foreclosure – at a hearing today,” she wrote on Twitter, in a post accompanied by a clip of the proceedings.“He thought I was referring to a chocolate sandwich cookie. No, really.”Mr Carson is well known for blunders and controversial statements.In 2017 he reportedly likened slaves to immigrants in his first official address as HUD secretary, prompting a storm of outrage.](https://s.yimg.com/ny/api/res/1.2/vVJr3cnLGSRmAzWvXFU8RQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTcyMA--/https://media.zenfs.com/en/the_independent_577/1dcde56cc96bc21fe1b75d82a66810d5)
![US housing secretary Ben Carson confused a common property term with the name of a chocolate biscuit during a disastrous congressional hearing.The 67-year-old appeared before the House Financial Services Committee on Capitol Hill and was asked by Democrat Katie Porter to define “REOs” for the panel.REO stands for “real estate owned” and refers to foreclosed property which has been transferred to a lender, after failing to sell at auction.“I’d also like you to...explain the disparity in REO rates – do you know what an REO is?” Ms Porter asked during the oversight hearing.“An Oreo?” Mr Carson said, naming the popular chocolate biscuit brand.“No, not an Oreo,” Ms Porter said, spelling out the term. ”An R-E-O.”The housing secretary then attempted to define the term but wrongly suggested that the O stood for “organisation” when pressed.“Owned,” Ms Porter said. “Real Estate Owned. That’s what happens when a property goes to foreclosure. We call it an REO.”The congresswoman went on to ask Mr Carson why people with loans backed by the Federal Housing Administration, a government agency, were more likely to enter foreclosure proceedings than those with loans from elsewhere.Donald Trump appointed Mr Carson as secretary for housing and urban development (HUD) in December 2016, despite the former neurosurgeon’s lack of experience.The US Senate confirmed the appointment in March 2017.Mr Carson tweeted an image of himself with a packet of Oreo biscuits after the hearing, in an attempt to make light of his gaffe.“OH, REO! Thanks, [Representative] Katie Porter,” he wrote.“Enjoying a few post-hearing snacks. Sending some your way!”The Democratic congresswoman appeared unamused by the hearing’s outcome.“I asked Secretary Carlson about REOs – a basic term related to foreclosure – at a hearing today,” she wrote on Twitter, in a post accompanied by a clip of the proceedings.“He thought I was referring to a chocolate sandwich cookie. No, really.”Mr Carson is well known for blunders and controversial statements.In 2017 he reportedly likened slaves to immigrants in his first official address as HUD secretary, prompting a storm of outrage.](https://s.yimg.com/ny/api/res/1.2/oiyYybhfXPafAgowzEtqDw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTcyMA--/https://media.zenfs.com/en/the_independent_577/e337f6165fbad24c11475bd097034d4f)
US housing secretary Ben Carson confused a common property term with the name of a chocolate biscuit during a disastrous congressional hearing.
The 67-year-old appeared before the House Financial Services Committee on Capitol Hill and was asked by Democrat Katie Porter to define “REOs” for the panel.
REO stands for “real estate owned” and refers to foreclosed property which has been transferred to a lender, after failing to sell at auction.
“I’d also like you to...explain the disparity in REO rates – do you know what an REO is?” Ms Porter asked during the oversight hearing.
“An Oreo?” Mr Carson said, naming the popular chocolate biscuit brand.
“No, not an Oreo,” Ms Porter said, spelling out the term. ”An R-E-O.”
The housing secretary then attempted to define the term but wrongly suggested that the O stood for “organisation” when pressed.
“Owned,” Ms Porter said. “Real Estate Owned. That’s what happens when a property goes to foreclosure. We call it an REO.”
The congresswoman went on to ask Mr Carson why people with loans backed by the Federal Housing Administration, a government agency, were more likely to enter foreclosure proceedings than those with loans from elsewhere.
Donald Trump appointed Mr Carson as secretary for housing and urban development (HUD) in December 2016, despite the former neurosurgeon’s lack of experience.
The US Senate confirmed the appointment in March 2017.
Mr Carson tweeted an image of himself with a packet of Oreo biscuits after the hearing, in an attempt to make light of his gaffe.
“OH, REO! Thanks, [Representative] Katie Porter,” he wrote.
“Enjoying a few post-hearing snacks. Sending some your way!”
The Democratic congresswoman appeared unamused by the hearing’s outcome.
“I asked Secretary Carlson about REOs – a basic term related to foreclosure – at a hearing today,” she wrote on Twitter, in a post accompanied by a clip of the proceedings.
“He thought I was referring to a chocolate sandwich cookie. No, really.”
Mr Carson is well known for blunders and controversial statements.
In 2017 he reportedly likened slaves to immigrants in his first official address as HUD secretary, prompting a storm of outrage.
