Ben Carson, Housing Secretary, Does Not Know Basic Housing Term
During testimony before the House Financial Services Committee on Tuesday, Housing and Urban Development Secretary Ben Carson appeared to be stumped by basic real-estate and housing market terms, at one point seemingly believing that a congresswoman was referring to cookies.
Already struggling to answer Rep. Katie Porter’s (D-CA) questions surrounding Federal Housing Authority mortgages—the former California mortgage-settlement official had to walk him through the basic concepts of his own department’s policies—the retired neurosurgeon was then asked about issues surrounding the high rate of foreclosures on FHA-insured homes.
After Carson laconically said he hadn't had any discussions on the issue of FHA’s servicing of mortgages but he’d “look it up,” Porter pressed him on the “disparity in REO rates” for FHA mortgages.
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