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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Crisis In The Housing Market
8:15 am
Mon November 14, 2011

After Banks' Mistakes, Homeowners Pick Up Pieces

Attorney Gary Klein in Boston is suing the largest U.S. banks on behalf of thousands of homeowners who he says the banks wrongfully pushed into foreclosure.
Chris Arnold NPR

Federal regulators have announced the start of a nationwide review of foreclosures by the nation's largest banks. The goal is to reach homeowners who've been treated unfairly or who lost their house when they shouldn't have.

Banks have started mailing out letters to upwards of 4 million homeowners. The regulators have ordered the banks to find people who have suffered financial harm due to the banks' mistakes, and to offer "remediation."

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NPR Story
3:00 am
Tue October 25, 2011

Refinancing A Focus Of Obama's Economic Plan

Speaking in Las Vegas on Monday, President Obama announced a plan for homeowners to refinance mortgages at low interest rates, if they met certain conditions.

Jewel Samad AFP/Getty Images

Originally published on Tue October 25, 2011 11:59 am

President Obama's home refinancing plan seeks to let a million or more American homeowners save money on their mortgages, even if those loans are underwater. But the plan announced Monday is not a new idea: A pair of economists at Columbia University — Chris Mayer and Glenn Hubbard — have been proposing a similar measure for years.

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Crisis In The Housing Market
4:00 am
Mon October 24, 2011

Housing Crisis A Hot Topic For Presidential Hopefuls

Former U.S. Sen. Rick Santorum, U.S. Rep. Ron Paul, businessman Herman Cain, former Massachusetts Gov. Mitt Romney, Texas Gov. Rick Perry, Former House Speaker Newt Gingrich and U.S. Rep. Michele Bachmann participate in a Republican presidential debate last week in Las Vegas.

Ethan Miller Getty Images

Originally published on Mon October 24, 2011 6:03 pm

Home prices across the U.S. have dropped 30 percent from their peaks, a downturn that has sapped trillions of dollars in wealth from Americans. Not surprisingly, it's a hot topic for presidential candidates this campaign season. But so far, new ideas about how to fix the crisis have been scarce.

On Monday, President Obama is visiting Nevada, where he's expected to announce his administration's latest proposals on housing. The state is at the epicenter of the downturn, with the latest reports showing home prices and sales numbers continuing to slip.

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Economy
11:01 pm
Wed October 19, 2011

Frustration Over Jobs Unites 'Occupiers' In Boston

Occupy Boston protesters congregate across the street from the Federal Reserve Bank of Boston.

Chris Arnold NPR

The U.S. hasn't had unemployment this high for this long since the Great Depression. That's weighing heavily on a lot of Americans and seems to be a key part of the frustration and anger that's being directed at Wall Street and the big banks. For many people, it's not so much about high finance as it is about a weekly paycheck.

"I'm unemployed, and I'm down here because I'm unemployed," says Bob Norkus, a protester in downtown Boston.

Walking around, it doesn't take long to figure out that many people here have the same problem.

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Crisis In The Housing Market
11:01 pm
Sun October 16, 2011

Housing Market Stuck Despite Low Prices, Rates

A bank-owned sign is seen in front of a foreclosed home in Miami. Florida was among the hardest hit states in the real estate collapse.

Joe Raedle Getty Images

Originally published on Mon October 17, 2011 9:32 am

Three years ago, the real estate market was simple — simply terrible, that is. In virtually every part of the country, foreclosures were shooting up and prices were plunging. Today, the real estate picture is more nuanced. Foreclosures are still rising, but prices are stabilizing in some markets, making home-buying look more attractive.

If you had talked to some good economists just before the housing bubble burst, they would have told you it didn't make sense to buy a house.

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