Diana Olick is an Emmy Award-winning journalist, currently serving as CNBC's real estate correspondent as well as the author of the Realty Check section on CNBC.com, which won the Gracie Award for "Outstanding Blog" in 2015. She also contributes her real estate expertise to NBC's "Today" and "NBC Nightly News."
Prior to joining CNBC in 2002, Olick spent seven years as a correspondent for CBS News.
Olick began her career as a local news reporter at WABI-TV in Bangor, Maine; WZZM-TV in Grand Rapids, Mich.; and KIRO-TV in Seattle. She joined CBS in 1994 as a New York-based correspondent for the "CBS Evening News with Dan Rather" and "The Early Show." She also contributed pieces to "48 Hours" and "Sunday Morning." During that time, she covered such stories as the World Trade Center conspiracy trial and the Boston abortion clinic shooting.
In 1995, Olick was assigned to cover the Midwest as a Dallas bureau correspondent. In the three years she was there, she covered all forms of natural disaster, including the crash of TWA Flight 800, the JonBenet Ramsey murder mystery and was the exclusive correspondent for the trial of Oklahoma City bomber Terry Nichols. During that time, she also took a temporary assignment in CBS' Moscow bureau, where she chronicled the brief presidential campaign of Mikhail Gorbachev.
In 1998, Olick was reassigned to the New York bureau and then immediately posted to Bahrain for the buildup to a possible second Gulf War. A year later, she went to Albania to cover the U.S. military buildup during the conflict in Kosovo.
Upon her return, Olick was reassigned to CBS' Washington bureau and the Capitol Hill beat. During Campaign 2000, Olick covered the Senate campaign of First Lady Hillary Rodham Clinton and later joined the Bush campaign as a special correspondent for "The Early Show." That fall, she was named Supreme Court correspondent; her first case was Bush v. Gore.
Olick has a B.A. in comparative literature with a minor in soviet studies from Columbia College in New York and a master's degree in journalism from Northwestern's Medill School of Journalism.
Follow Diana Olick on Twitter @Diana_olick.
The financial regulatory reform bill is all but getting in a cab to the White House, and that has housing watchers convinced that the next big item on the Administration/Congressional agenda will be the Government Sponsored Enterprises reform.
That heady buzz from the home buyer tax credit is now turning into a grinding headache, as home sellers realize their very temporary, government-induced catbird seat has now fallen back to earth.
Today the FHFA, overseer of Fannie Mae and Freddie Mac, made an unprecedented move, issuing 64 subpoenas to "various entities," seeking information on private-label mortgage-backed securities in which the two invested, specifically "the contents of loan files, which include documents used in the underwriting process, such as loan applications and property appraisals."
Here's my problem with the thesis of this article: A little less than 14 percent of the loans outstanding in the U.S. are "jumbo," meaning over $417,000, according to government statistics. The number of loans that are over $1m are even less than that.
I got a call this afternoon from Prof. Karl Case, the first half of the well-watched "Case-Shiller Home Price Indices." He had seen my piece about Canada in our Housing Fix series last week and wanted to add his two cents. Specifically he wanted to point out how "in the high interest rate environment you get a completely different scenario as the low interest rate environment," when you compare the Canadian and the U.S. housing boom and busts.
Just when you thought things might be turning around, the mortgage crisis takes yet another little dip to the downside. Lender Processing Services just put out its May "Mortgage Monitor," and some promising trends aren't so promising anymore, specifically new delinquencies and cure rates.
Today is the closing deadline for home buyers to get their $8000 tax credit if they're first timers and $6500 if they're repeat buyers. This is if they signed contracts by April 30th. Previous efforts to extend the deadline failed, but a new move is afoot that may just have the backing.