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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Your Money
5:03 am
Fri December 19, 2014

When Nonprofit Hospitals Sue Their Poorest Patients

Keith Herie is swamped in debt from medical issues he and his wife encountered starting about a decade ago. Heartland hospital is seizing 10 percent of his paycheck and 25 percent of his wife's wages, and has placed a lien on their home.
Steve Hebert for ProPublica

Originally published on Fri December 19, 2014 10:32 am

On the eastern edge of St. Joseph, Mo., lies the small city's only hospital, a landmark of modern brick and glass buildings. Everyone in town knows Heartland Regional Medical Center — many residents gave birth to their children here. Many rush here when they get hurt or sick.

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Economy
6:21 pm
Fri December 12, 2014

Mortgage Giants Ease Down Payments For First-Time Homebuyers

A new directive from the Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, will allow first-time homebuyers to put down as little as 3 percent.
Mark Wilson Getty Images

Originally published on Fri December 12, 2014 8:05 pm

A federal directive will go into effect Saturday making it easier for some Americans to come up with a down payment to buy a house.

The vast majority of home loans are guaranteed by the government-controlled mortgage giants Fannie Mae and Freddie Mac. The regulator in charge of Fannie and Freddie will allow first-time homebuyers to put down as little as 3 percent.

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The Salt
6:32 pm
Tue November 25, 2014

For More Local Turkeys To Hit Holiday Tables, You Need An Abattoir

The turkeys at Kate Stillman's farm don't have to be loaded on a trailer and driven hundreds of miles this year. They now meet their ends on the same farm where they lived their lives.
Chris Arnold NPR

Originally published on Wed November 26, 2014 11:22 am

It's a busy time of year for turkey farmers around the country. And these days, with the growth of the local food movement, small family farms are struggling to keep up with all the orders for birds. So, we went to find out what one New England farmer is doing to get her gobblers from the field to the table. Enter the "abattoir."

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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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Your Money
3:44 am
Tue August 26, 2014

Many Homeowners Still Qualify For Mortgage Relief

Mel Watt, director of the Federal Housing Finance Agency, says many homeowners who could qualify to refinance their mortgages under HARP are suspicious.
Jacquelyn Martin AP

Originally published on Tue August 26, 2014 11:47 am

The financial crisis pushed millions of Americans from their homes. And housing advocates complain that the government did more to prop up big banks on Wall Street than it did to help average people on Main Street.

But many of those people on Main Street could still qualify for a government program to help them save money by refinancing their mortgages.

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Planet Money
5:55 pm
Thu August 14, 2014

Should We Kill The $100 Bill?

Noel Celis AFP/Getty Images

Originally published on Tue August 19, 2014 3:02 pm

Of all the U.S. currency in the world, nearly 80 percent is in $100 bills. That's about a trillion dollars.

Some people want to get rid of the bill altogether. Ken Rogoff, an economist at Harvard University, says the $100 bill helps criminals:

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Business
4:14 pm
Fri August 1, 2014

Some Public Pension Funds Making Big Bets On Hedge Funds

iStockphoto

Originally published on Thu August 7, 2014 2:28 pm

Public pension funds have been doing something new in recent years — investing in hedge funds.

Hedge funds are often secretive investment firms led by supposedly supersmart fund managers. Though, sometimes they implode spectacularly — think Long-Term Capital Management. Another prominent firm, Galleon Group, recently got shut down for rampant insider trading.

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Economy
4:09 pm
Thu July 3, 2014

In June Jobs Numbers, Signs For Optimism

Originally published on Thu July 3, 2014 6:26 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

MELISSA BLOCK, HOST:

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