From waiter to rainmaker.

Whoever said that mortgage bankers aren't colorful? Benjamin M. Stacks, for example, the vice president of commercial real estate for M&T Bank and the chairman of the Young Mortgage Bankers of America Association, in person turns out to have a very different mindset than the one you would expect in a man of his profession.

For one thing, he could sympathize with people who pay their way through college by working as waiters. After majoring in International Relations at Syracuse University, which pursuit according to him did not live up to its "glorified" reputation, Stacks spent some time working at his family's restaurant in Washington, D.C. Despite his parents' expectations, however, he decided that the restaurant business was not for him. "It is just a horrible business," he explained, thinking ten years backwards. "It takes a ton of work and long hours, and it is constantly changing. I wanted to do something else."

In search of a more suitable career, Stacks decided to pursue a real estate finance major at the American University in Washington. This time he had more lack finding his calling. Soon after graduating, he was hired by the M&T Bank as a financial analyst and remained at the bank for seven years, eventually rising to the position of vice president. In the same period of time, Stacks became involved with the Young Mortgage Bankers Association of America, an organization that hosts lectures, business luncheons, and social events for the real estate industry professionals.

"The Young Mortgage Bankers Association is only New York City-based and I think it has been part of the appeal of our organization," explained Stacks. "We plan and organize events that reflect our constituents' interests and we try to get a diverse group of people to come to our lectures."

According to Stacks, the people who attend YMBA lectures include lenders, appraisers, real estate owners and vendors, and even tech firm representatives. "We feel that we are quite a unique organization within New York City," he says proudly. "We have luncheons that really address current topics, we host a couple of social events every year, we have networking meetings, and we have one of the most successful annual golf outings. I think that because we have these events, where people talk about dealing with the most current issues and the most recent deals, it is always good for the people in the industry to be exposed to YMBA."

So what are the criteria by which the luncheon speakers are chosen? "They generally have to be a leader in their field and we like to make sure they've done something noteworthy recently," Stacks replied. "But we do not limit ourselves to one particular branch of the industry -- our point is to cast a wide net to appeal to a large number of people."

Among YMBA's most recent speakers are Paul Pariser of the Taconic Investments Partners, Sam Giarrusso of M&T Bank, Steve Witkoff of The Witkoff Group, and Marc Warren of UBS. "Once or twice a year we have an educational seminar on the mechanics of doing business," Stacks added. "This time it will deal with the question of how to use the Internet to better your real estate business." The seminar will take place on January 17th, preceding the monthly luncheons on Feb. 28, March 28, and April 25, and a social event on May 17.

When asked about YMBA's history, Stacks is careful to point out that it is rather different from its sister organization, the Mortgage Bankers Association of America. "Until the late 1960's, there was the Young Mortgage Bankers subcommittee within the MBA," he explains. "But in 1967 the YMBA members decided to go on their own because the MBA is really more of a national, lobbying organization. We, however, are not lobbying-based by any stretch."

In fact, the YMBA chairman was reluctant to express his opinion on the trends he sees in the current real estate market for the fear that he will jeopardize the organization's reputation as a neutral intermediary.

"We try to facilitate our speakers to give their opinions," he said. "That is what the purpose of the Young Mortgage Bankers Associations is -- to give them a forum to say where they think the market is going."