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. She also contributes her real estate expertise to NBC's "Today" and "NBC Nightly News with Brian Williams."
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.
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Here's the last series of emails I'll post on the reaction I got on the subprime interest rate freeze idea. Thanks to everyone who's been writing in. It's meant a lot to hear from you. Gina: I hate to see people lose their homes - but if they get an interest rate break THEN THE REST OF US SHOULD ALSO.
More of your email replies to the subprime loan interest rate freeze: Maria L: Wow! Health care is taboo for this administration, but we'll prop up incompetent lenders and borrowers. Brett P.: Remember when Congress used to pass laws "that were equally applicable to every person"? Me neither.
I'm hearing from so many of you about the idea of freezing some subprime loans. Keep your emails coming in. Here's a sample of what I've gotten so far: What's next? People who lose a certain amount of money in casino's get a tax credit for the losses?
Unless you were trapped under something heavy this morning, you’ve probably heard about the Treasury Dept.’s impending deal with major lenders to freeze interest rates on certain subprime loans. This is all coming out of the “Hope Now” alliance, which was originally launched by Henry Paulson and designed to get lenders in better communication with borrowers.
I realize I’ve been on TV all day today talking about the New Home Sales data from the U.S. Dept. of Commerce, so it’s probably unfair of me to say it doesn’t matter, but the October numbers really don’t. What matter are the revisions, that is the changes in the September numbers.
If you’re reading this blog right now, then you are likely the type of person who has already checked out the existing home sales news today from the National Association of Realtors. Existing home sales fell 1.2 percent in October from the month before (I know I know, so many of you hate when I go monthly, but I have a point, really I do).
realize I ranted quite a bit yesterday on loan modifications, and thank goodness I did because the right people were reading. I'm pleased and honored to post a reply to yesterday's blog, from none other than the Chairman of the FDIC, Sheila Bair:
A lot of data out today, starting with the monthly S&P/Case Shiller Home Price Index. The headline there is that for the first time in this housing downturn (and possibly ever) every one of the twenty metro markets the report covers is in the negative on a month-to-month basis.
It seems like suddenly everyone is jumping on the bandwagon. First Countrywide announced a deal with Neighborhood Assistance Corp. of America (NACA) to modify loans on a case-by-case basis. Then California Gov. Arnold Schwarzenegger announced a plan with Countrywide, GMAC and others to freeze ARM interest rates on certain loans temporarily, as long as the borrower is living in the home and up-to-date on current payments.
Since I'm starting my holiday early today (I'll be back on Monday), I thought I'd provide you with an interesting take on all the Fannie and Freddie news from a good source of mine, mortgage consultant and former HUD official, Howard Glaser. What follows are this thoughts: