In March of 2007, Glaser warned of the dangers of piggyback loans: "Piggyback loans could be the next skeleton to fall out of the mortgage industry closet," said Howard Glaser, an independent mortgage analyst. "These 80-20 loans give the borrower the illusion of being able to afford more house than they really have the funds for."
In December 2007, Glaser criticized the slow federal response to the housing crisis: "From day one, the federal government has miscalculated the depth and impact of the subprime crisis," said Howard Glaser, a mortgage analyst based in Washington and former official with the Department of Housing and Urban Development. "The concern now is that there is no action the feds can take to put a stop to this death spiral."
In September, 2008, Glaser criticized predatory practices of servicers who deliberately kept borrowers in late payment status in order to increase fees: "There is an element of 'suck the loan dry, and then once you have gotten everything out of it that you can, you leave the carcass on the side of the road.'"
From 1994 to 2000, Mr. Glaser served in several senior management roles at the Department of Housing and Urban Development, including Counselor to Secretary Andrew Cuomo, Deputy Assistant Secretary, and Acting General Counsel. For his work in reforming federal housing programs, Mr. Glaser was a recipient of the 1996 John F. Kennedy School of Government “Innovations in Government” award.
Before joining the federal government, Mr. Glaser was a senior advisor to New York Governor Mario Cuomo.
Mr. Glaser has testified before Congress on real estate and housing finance issues. His analysis is frequently reported by the Wall Street Journal, New York Times, CNBC, Washington Post, American Banker and other media.
Mr. Glaser is a graduate of Harvard Law School and is a member of the New York State Bar.