To more and more people in the U.S., buying a place in Latin America is no longer an exotic option for retirement or a second home. This holds particularly true for parts of the region within a short flight - or drive - from the U.S.

Mortgages for these homes have already popped onto the radar screen of structured finance players, who see potential in an asset class that has plenty of room for growth. Indeed, Deutsche Bank is understood to have set up a warehousing facility for mortgages secured by properties in Mexico, Costa Rica, Panama, and the Dominican Republic, according to an industry source.

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