Chris Arnold

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

In recent years, Arnold has spent much of his time reporting on the financial crisis, its aftermath, and the U.S. economy's ongoing recovery. He has focused on the housing bubble and its collapse. And he's reported on problems within the nation's largest banks that have led to the banks improperly foreclosing on thousands of American homeowners. For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, The Foreclosure Nightmare. He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. He was chosen by the Scripps Howard Foundation as a finalist for their National Journalism Award, and he won an Excellence in Financial Journalism Award from N.Y. State's society for CPA's.

Arnold is also reporting on the now government-owned mortgage giants Fannie Mae and Freddie Mac. In a series of stories in partnership with ProPublica, Arnold exposed investments at Freddie Mac that raised serious concerns about a conflict of interest between Fannie and Freddie's massive investment portfolios, and their mission to make home ownership more affordable. The stories generated widespread attention, and led to calls for an investigation by members of Congress.

Arnold was recently honored with a Nieman Journalism Fellowship at Harvard University during the 2012-2013 academic year. He joined a small group of other journalists from the U.S. and abroad and studied, among other things, economics and the future of home ownership in America.

Prior to that, Arnold covered a range of other subjects for NPR – from Katrina recovery in New Orleans and the Gulf Coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin – more than 1 out of 20 high school seniors report using the drug.

In the days and months following the Sept. 11, 2001, attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department, as they struggled with the deaths of 37 officers - the greatest loss of any police department in U.S. history.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member Station, KQED.

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Business
3:33 am
Tue November 18, 2014

Firm Accused Of Illegal Practices That Push Families Into Foreclosure

Gary Klein is one of the lead attorneys representing homeowners in the case against Ocwen Financial.
Chris Arnold NPR

Originally published on Tue December 2, 2014 8:13 pm

The fallout from the housing crisis isn't over.

According to Moody's Analytics, there were 700,000 foreclosures last year. And some of those people probably didn't need to lose their homes. Even now, more than six years after the housing crash, lawyers for homeowners say mortgage companies are still making mistakes and foreclosing on homes when they shouldn't be.

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Business
5:18 pm
Fri October 3, 2014

New 15-Year Mortgage May Open Homeownership Door For More Buyers

Neighborhood Assistance Corporation of America CEO Bruce Marks is offering the first batch of these "wealth building home loans" to homebuyers through his nonprofit organization.
Damian Dovarganes AP

Originally published on Sat October 4, 2014 12:56 pm

The 30-year mortgage is the foundation of the real estate market largely because it makes housing more affordable. But the truth is, it's a lousy loan for building actual ownership or equity in your home during the first 5 or 7 years, which caused big trouble when housing crashed.

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The Two-Way
5:39 pm
Fri September 26, 2014

The 'Bond King' Leaves His $2 Trillion Kingdom

Bill Gross
AP

Originally published on Fri September 26, 2014 6:24 pm

Heavy drama played out this week — and not just on Shonda Rhimes' TV shows.

The bond-investing world was roiled by news that Bill Gross — the man known as "The Bond King" — has abruptly left the huge investment firm he founded in 1971. The departure left a lot of people scratching their heads on Wall Street.

"The natural question is: What's going on at PIMCO?" said David Kotok, chief investment officer at Cumberland Advisors. "There's all kinds of speculation" about why Gross left.

"And the answer is, it's speculation — and so we don't know," Kotok said.

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Economy
5:37 pm
Thu May 15, 2014

Missing In The Housing Recovery: New Houses

De Desharnais of Ashwood Development in New Hampshire says homebuilding activity for her company has slowed sharply since the housing crash. But she's hopeful that business will pick up.
Chris Arnold NPR

Originally published on Thu May 15, 2014 8:18 pm

More than five years after the crash, homebuilding is stuck at half its normal level. That's a big drag on the economy. And things aren't looking much better: A report out Thursday shows homebuilder confidence is at its lowest level in a year.

This severe slump in single-family home construction has been going on across the country. We haven't seen anything close to this kind of a long-term construction slump since World War II.

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Business
4:05 pm
Tue May 13, 2014

Housing Regulator Has Big Plans In Store For Two Mortgage Titans

Originally published on Tue May 13, 2014 7:26 pm

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Transcript

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Rethinking Retirement: The Changing Work Landscape
6:22 pm
Thu April 3, 2014

One More Speed Bump For Your Retirement Fund: Basic Human Impulse

We hate losing twice as much as we love winning, behavioral researchers say. And that gets us into trouble with financial decisions.
iStockphoto

Originally published on Thu April 3, 2014 7:34 pm

Saving for retirement is a challenge facing most Americans. Research shows the challenge is made harder by our basic human impulses. We know we should be saving. But we don't. We consistently make bad financial decisions.

One thing that leads us astray is what behavioral economists call "loss aversion." In other words, we hate losing. And that gets in the way of us winning — if winning is making smart financial decisions.

How A Smashed Car Is Like A Smashed Nest Egg

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Parallels
5:22 pm
Wed March 26, 2014

How Russia's Annexation Of Crimea Could Hurt Its Economy

A street vendor in Simferopol, Crimea, sells eggs with the dual currency price tags in Russian rubles and Ukrainian hryvnias. Russia's annexation of Crimea mean it will now have to prop up the peninsula's weak economy.
Dmitry Serebryakov AFP/Getty Images

Originally published on Thu March 27, 2014 11:05 am

Russian President Vladimir Putin's swift move to annex Crimea is seen as a sign of strength by many Russians, and it has boosted Putin's popularity at home. But when it comes to Russia's economy, many analysts think Russia's prospects are looking weaker.

In recent days, we've seen Russians rallying in the streets, waving flags and celebrating Putin's move to reclaim Crimea as part of Russia.

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Your Money
4:44 am
Tue March 18, 2014

Report: Most Americans Not Putting Enough Away For Retirement

Originally published on Tue March 18, 2014 9:44 am

The stock market surge has given a lift to many retirement portfolios. But a new report finds that most Americans haven't saved nearly enough for the kind of retirement they expect.

Economy
5:29 pm
Tue March 4, 2014

Severe Weather Socks The Economy, But Full Impact Is Unclear

It's too cold to eat out.
John Moore Getty Images

Originally published on Tue March 4, 2014 6:31 pm

The economy often absorbs the impact of snowstorms, such as this week's storm, without much trouble, but this winter the weather is doing more damage than usual.

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The Salt
5:27 pm
Wed January 22, 2014

Small-Batch Distilleries Ride The Craft Liquor Wave

Evan Parker built the interior space of the distillery himself in a small warehouse near the coast. Parker and his business partner, Mat Perry, have desks overlooking their 400-gallon copper kettle and still.
Chris Arnold NPR

Originally published on Wed January 22, 2014 8:01 pm

Wherever you live, you're probably not too far from a local microbrewery making beer. Now, the latest trend is the spread of what you might call "micro-boozeries." Craft liquor distilleries are springing up around the country like little wellheads spouting gin, whiskey and rum.

Turkey Shore Distilleries in Ipswich, Mass., is one of them.

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