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 30-year fixed hit 5.31 percent last week, the highest level since the first week of last August, according to the Mortgage Bankers Association. In response, mortgage applications fell 11 percent, driven entirely by a nearly 17 percent drop in refis.
The government is officially giving borrowers back home equity. Yep, somewhere between $35 and $50 billion worth. Of course we've all lost over $5 trillion, but who's counting? Lenders still aren't required to do it, but they're going to get an awful lot of taxpayer-funded incentives to do it.
I wanted to call this blog, "Hammering HAMP," but I knew before I wrote it that my editors would nix that. But what a show at the House Committee on Oversight and Government Reform today, as members questioned one of the members of the TARP oversight panel and then got to blast Asst. Treasury Secretary Herb Allison (he's the former Fannie Mae exec who now watches over the Treasury's housing bailout).
The qualification standards for HAMP are high…can't be an investor, can't be a second home, can't be a jumbo loan, and more. The good news is that these loans are in fact being modified, some of them actually getting principal write downs, unlike the bulk of HAMP mods.
Just when you think a government program might actually do some good… Here I am today reporting about the upcoming Home Affordable Foreclosure Alternative program from the Treasury Department that goes into effect April 5th. The program is designed to help troubled borrowers who don't qualify for loan modifications.