Small lenders fill niche for Mexican mortgages

Programs requiring 20-30% down lure investors, retirees

The residential mortgage meltdown in the United States not only has devalued investors’ significant assets but it has stymied their ability to create and explore potential future business.

New York-based Lehman Brothers Resort Home Lending abruptly ended its four-month entry into the Mexican and Costa Rican mortgage markets even as many destinations in those two countries continue to appreciate and draw second-home, retirement and investment buyers.