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Turns out Rep Porter was the one who is uninformed on REOs
Posted on: May 22, 2019 at 11:26:21 CT
Spanky KU
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Carson said that he is very familiar with foreclosed properties and REOs and has not only read “extensively” about them but even knew about them as teenager of where he grew up in Detroit. He believes that Porter is not up to date on the current REO portfolio.
“When a family gets into a problem with their mortgage and it’s backed by our agency we go through a lot of procedures with the banks to make sure that they don’t get foreclosed upon and the few cases where they do obviously we are able to sell those properties very quickly,” he explained. “And the REO portfolio just over the last 10 years has dramatically decreased by ten-fold you know 65,000 down to 6,500.”
“So I suspect when Katie Porter was an expert in this area things were very different that’s why I invited her to speak with our staff that deals with these so they can bring her up to date -- maybe she would then be able to understand what’s going on.”
“When a family gets into a problem with their mortgage and it’s backed by our agency we go through a lot of procedures with the banks to make sure that they don’t get foreclosed upon and the few cases where they do obviously we are able to sell those properties very quickly,” he explained. “And the REO portfolio just over the last 10 years has dramatically decreased by ten-fold you know 65,000 down to 6,500.”
“So I suspect when Katie Porter was an expert in this area things were very different that’s why I invited her to speak with our staff that deals with these so they can bring her up to date -- maybe she would then be able to understand what’s going on.”
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Turns out Rep Porter was the one who is uninformed on REOs - Spanky KU - 5/22 11:26:21
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