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Litigation support in for RMBS is extremely demanding from a data management perspective. It requires a single source of truth, the ability to quickly onboard new data sources, data integrity, reliability, and security. Once the data is loaded, it must be easy to access a consolidated view of all the data. To handle these needs requires data management capabilities that goes beyond those found in traditional data management systems. These capabilities include pulling together independent but overlapping data sources, both structured and unstructured data, and the linking of data that might otherwise be considered independent.
Residential Mortgage Backed Securities (“RMBS”) litigation is the most data intensive of all big-ticket litigation. In order to prevail at trial, lawyers, expert witnesses and reunderwriting vendors will review millions of pages of loan related documentation under extreme time pressure. Buried in this mountain of documentation is the evidence necessary to establish whether or not securitized loans were originated in accordance with applicable underwriting guidelines. To date, RMBS litigation data management has involved a combination of relational databases (operated by vendors) and spreadsheets (reviewed by lawyers). As the size and complexity of RMBS litigation has increased the limitations of current RMBS litigation data management practices has become self-evident. To address the needs of litigants and their advisors, ESILAB has developed an online MarkLogic based solution that has transformed RMBS litigation data management delivering more accurate data at a significantly reduced cost.