After two years of preparation, Wall Street Mortgage Company (Wall Street Compaia Hipotecaria) has just successfully launched the first mortgage securitization program in Panama and what is believed to be the first in Central America.

While the first offering for $15 million was placed with local institutional investors, the company hopes to get the program rated eventually and to issue mortgage-backed securities abroad. But unlike many new mortgage companies in Latin America, Wall Street is in no hurry and sees advantages to remaining with the local market.

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