WASHINGTON - Housing and Urban Development Secretary Ben Carson misheard a real estate term as "Oreo" during a hearing Tuesday before being told by a congresswoman what the term meant.
Carson was testifying before the House Financial Services Committee when Rep. Katie Porter, D-Calif., attempted to ask him about disparities in REO rates.
An REO, meaning "real estate owned," refers to a class of property owned by a lender following a forclosure. Carson apparently misheard the term as "Oreo," the popular sandwich cookie.
“I'd also like you to get back to me, if you don’t mind, to explain the disparity in REO rates," Porter said. "Do you know what an REO is?”
"An Oreo-" Carson began.
"R- No, not an Oreo. An REO. R-E-O," Porter responded.
"Real estate?" asked Carson.
"What's the O stand for?" said Porter.
"E- Organization?" asked Carson.
"Owned. Real estate owned," responded Porter before going on to further explain the term to the secretary.
Watch the exchange above.
I asked @SecretaryCarson about REOs - a basic term related to foreclosure - at a hearing today. He thought I was referring to a chocolate sandwich cookie. No, really. pic.twitter.com/cYekJAkRag — Rep. Katie Porter (@RepKatiePorter) May 21, 2019
After the hearing, Carson tweeted a picture of himself with a package of Double Stuf Oreos that he sent to Porter along with a note that read: "To Rep. Porter: Thanks for your part in today's hearing. Hope you like the OREO(s)."
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