Fraud Charge Hits Close to Home
By Stacey Moncrieff
I was disheartened to see in the NAR Wisdom blog that Eve Mazzarella’s name was attached to a possible mortgage fraud. Eve was named to our “30 Under 30” list for 2007. From more than 600 applicants to our “30 Under 30″ program last year, Eve stood out for her “bootstraps” story and for being a risk taker.
You may be wondering, in light of this news, if or how we vet candidates for our annual 30 under 30 presentation. We put all applicants who make it into the finals for “30 Under 30″ through a screening process, as we did with Eve. We do checks with the local association of REALTORS to determine whether there have been any ethics violations and with the state real estate commission to determine whether there have been any complaints, investigations, or license law violations. Occasionally, as a result of that screening, we drop a candidate from contention. We found no red flags with Eve.
Fraud, whether intentional or inadvertent, deserves the bright glare of media attention. We’ve done a number of stories on mortgage fraud; most recently, last week, our senior editor Mariwyn Evans attended a local mortgage fraud seminar and posted an entry at our blog, “Fraud for Homes Comes Under Greater Scrutiny.”
A year ago, Eve’s future seemed bright. If this indictment results in a conviction, it’ll prove a poignant lesson to anyone in this business who thinks it’s OK to get ahead using anything but the straight-and-narrow path.



Comments
It is a sad situation, indeed.
I am very glad, however, to see REALTOR Magazine stepping up to address the issue.
Kudos to you, Stacey, and thanks for sharing with us how the vetting process works. No system is perfect, this is just one reminder.
Posted by: Daniel Rothamel, The Real Estate Zebra | March 18, 2008 11:50 AM
Shame on Realtor magazine for putting Ms. Mazzarella on the list of 30 under 30. It goes to show that the vetting process isn't where it should be. These types of alleged fraud usually take a long time and with due diliegence, it would have been clear to Realtor magazine that perhaps something wasn't right. How many Realtors/Broker/Owners own 9 properties in less than 3 years in the business as was the case with this individual? I just wish now that Realtor.com and magazine do the right thing and put her picture and name in the cover of magazine as someone who is alleged to have committed huge fraud on the public, lenders, etc. Realtor.com and magazine apparently see no conflict when they highlight Realtors for supposed success, without proper verification, and generating more business for the same Realtors. Realtor.com and its magazine may have contributed to the increase of additional business for this couple and as result of its premature publication. I wonder how other Realtors are out there with similar issues.
Posted by: Area Realtor | March 18, 2008 07:39 PM
Though everyone is innocent until proven guilty the article mentions:
"engage in 432 straw buyer transactions and obtain control over about 227 properties at inflated values."
To me that is not just one or two mistakes.
Perhaps the next 30 under 30 will undergo a more thorough review of the candidates.
I am glad that Ms. Moncrieff spoke of the glare of the media attention.
Posted by: Matt Murray | March 18, 2008 07:54 PM
In response to "Area Realtor," I want to clarify that REALTOR magazine is not the magazine of REALTOR.com but the magazine of the NATIONAL ASSOCIATION OF REALTORS. REALTOR.com is a separate entity, operating by Move.com.
During the boom, it was not unusual to hear from members who'd built a substantial property portfolio quickly. And again, there was nothing in our background check to give us pause. However, your points about the vetting process are well taken, and we will review that process before we begin recruiting 2009 applicants.
Posted by: Stacey Moncrieff | March 19, 2008 09:48 AM
Maybe "30 Under 30" should be changed to "Outstanding Under 30" which would lessen the pressure of finding 30 young, outstanding agents every year.
Posted by: Pat Howell | March 20, 2008 07:26 AM
This magazine puts too much emphases on outstanding success etc. I am a small broker doing excellent work for my clients. I would never be recognized by this magazine, but at my clients appreciate me... so to realtor mag...shame on you for looking for the falsely perceived successes in our business
Posted by: terry | March 22, 2008 07:01 PM
Personally I dislike the 30 / 30 article every time it comes out. I've met another that was in the article a few years back and she was the most arrogant ...
Would love to see 30, regardless of age, that have built a long standing business as a sole practitioner.
Posted by: Not under 30... | March 23, 2008 10:33 AM
It seems to be that you are judging BEFORE a verdict is handed down. Is it possible this person is innocent? Of course it is. Therefore, you should hold off on your commentary of legal issues until AFTER the case has been decided.
I believe you were not malicious in your intent, but still, to name someone in a national publication before the fact to me is irresponsible.
Posted by: Dave Dildine | March 24, 2008 01:15 PM
I have had the pleasure of working with very many professional Realtors in my 7 + years in this field. Every so often I, myself & my team member come across situations in which the conduct of the agent is inexcusable. If these allegations prove true, it'll be unfortunate for all of us. Agents who aren't honest give all us a bad name and lower consumer confidence.
Posted by: Kerry Levasseur | March 24, 2008 05:51 PM
I hope it is not true. As a 26 year old newbee to this industry I admire those who have made it so big at such a young age. Mazzarella happened to be one of the few of the 30 under 30 who worked her way up from nothing. Being a licensed personal assistant with out a trust fund or relatives in the industry, I am trying to work my way up from nothing as well; and it is proving to be much harder than originally anticipated. If these alligations are true, she not only let down some people who might look up to her; she contributed to the bigger problem that is facing the real estate industry right now.
Posted by: Sarah Strickland | March 26, 2008 11:45 AM
Does not a case like Mazzarella's demonstrate the inherent ethical violation of allowing real estate agents to also run mortgage businesses? Am I the only one in Florida who is able to see this conflict of interest?
Posted by: Darhlene Zeanwick | March 28, 2008 05:20 PM
I do agree with one other agent whom spoke about allowing real estate agents to also run a mortgage business! I've been in the real estate business going on 6 years and the company I work with also finds it to be an ethical violation and a conflict of interest! Therefore, they do not allow any agent in their company to become mortgage brokers. If the state would look really close at the fraud that is happening to the hard working people out there, I will bet my heart of hearts that most of the agents doing business this way were also practicing to become a mortgage broker as well. I truly beleive you have to make sound decision to be good at one or the other...not both!
Posted by: Yvette Frederick | April 9, 2008 07:31 AM
yes..there is obviously a conflict of interest to be a mortgage broker and a relator at the same time. and about realto magazine....that is what american society is about ..fake it till u make it.!! a perfect example of eve mazarella.
Posted by: hello | May 7, 2008 12:45 AM
She took advantage of an associate Realtor's family member (who is now deceased by the way) in her spider web of fraud and she had been under investigation for quite some time. She has been scamming people for years. Being a Las Vegas Realtor, I have never seen such blatant disregard for the NAR ethics that is so highly promoted. Not that it is related, but I think NAR needs to stop the "30 Under 30" segment as it serves no purpose and is highly offensive and discriminatory to the rest of the Realtors who are 30+ years of age.
Posted by: TiredofNonsense | May 30, 2008 04:56 AM