HUD Secretary Ben Carson confuses REO with Oreos in congressional hearing

Carson could not explain what the common foreclosure term stood for

TRD NATIONAL /
May.May 21, 2019 05:09 PM
Ben Carson (Credit: Getty Images and iStock)

Ben Carson (Credit: Getty Images and iStock)

Milk’s Favorite Cookie, better known as Oreo, took center stage in a congressional hearing Tuesday morning.

Housing and Urban Development Secretary Ben Carson could not come up with a definition for the common real estate foreclosure term, REO, instead confusing it with the tastier alternative, Oreo cookies.

REOs, Rep. Katie Porter pointed out, is an abbreviation for “real estate owned.”

The California Democrat was attempting to ask Carson about the difference in REO rates between Federal Housing Administration loans and Fannie Mae or Freddie Mac loans. When she asked him if he knew what an “REO” is, he responded, “an Oreo?”

Carson was able to come up with two out of the three words in the acronym, incorrectly stating that “REO” stands for “real estate organization.”

Like most political slips of this kind, the exchange is now trending on Twitter. After the hearing concluded, Carson tweeted a photo of himself with a pack of Double Stuf Oreos he sent to the congresswoman.

(Credit: Twitter)

(Credit: Twitter)

Carson, a former Republican presidential candidate, is exploring the option of staying on for a second term as secretary, he previously told The Real Deal. He’s met opposition recently over his department’s plan to roll back subsidies for low-income residents and undocumented immigrants. [BI] — Natalie Hoberman


Related Articles

arrow_forward_ios
Secretary of the Department of Housing and Urban Development Ben Carson (Credit: Getty Images and iStock)

“Rich people are going to get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people

“Rich people are going to get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people
Alexandria Ocasio-Cortez and Kamala Harris (Credit: Getty Images)

AOC and Kamala Harris want to reverse rule that evicts public housing tenants over felonies

AOC and Kamala Harris want to reverse rule that evicts public housing tenants over felonies
U.S. Department of Housing and Urban Development secretary Ben Carson and President Donald Trump (Credit: Getty Images and iStock)

Trump admin wants to spur affordable housing by easing local building restrictions

Trump admin wants to spur affordable housing by easing local building restrictions
How Covid-19 is burning the fat off the tenant experience proposition

How Covid-19 is burning the fat off the tenant experience proposition

How Covid-19 is burning the fat off the tenant experience proposition
Virtual tours are a life saving tool for senior living properties

Virtual tours are a life saving tool for senior living properties

Virtual tours are a life saving tool for senior living properties
How the commercial real estate industry is learning to network in the social distancing era

How the commercial real estate industry is learning to network in the social distancing era

How the commercial real estate industry is learning to network in the social distancing era
The Future is Flexible: Office Leasing and the Digital Workspace

The new digital office experience

The new digital office experience
New building technology could help stop California brownouts

New building technology could help stop California brownouts

New building technology could help stop California brownouts
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...