You can see what a mess this ruling creates. So many entries are made into the computer systems regarding consumer mortgages that the data integrity may not be up to snuff. In other areas of their retail businesses, banks process high volumes of transactions with considerable attention to data accuracy, but that discipline seems to be remarkably weak in the servicing business. In addition, even if the systems were well designed from the standpoint of data integrity (for instance, entry verification, password control, and audit trails), its procedures may not map well onto the requirements of the court’s evidentiary requirements.
At a minimum, this ruling makes foreclosures in Florida more costly. It may create insurmountable hurdles in many cases.
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