Yeah, Spanish is a Romance (Roman derived) language but the word verbatim seems do not make his way into Spanish, lots and lots of latin roots and words make in to Spanish, but some do not.
Was looking in to «Real Academia de la Lengua» the entity in charge of the study and rules for our language, and seems the only similar root what make into spanish was «
verbālis.» which made most of the Spanish words referring to verbs. There are words like: Verbo, verebal, verbalmente, verbalización, all of them relative to verbs and speech.
Latin America refers to territories which uses languages from Romance languages (latin derivated) that includes: Spanish, Portuguese and french.
Also exist Hispano america, which are the territories with Spain influence (so Brazil is not included)
And there is AMERICA which is a great continent starting on «cabo de hornos - Argentina» and cover up to Alaska and canada, we all are part of America.