There are also problems with the title on many home loans.
Back in 2004 I was talking to my solicitor who used to work for one of the banks. She had been chatting to one of her ex-colleagues and they told her that when they did random checks they found a large number of mistakes, mainly from the 'low cost' conveyance solicitors, and the bank would be in trouble if they ever had to repossess and sell on one of these houses.
So, 6 years ago, the bank's staff knew they problems with the paper work external solicitors were submitting, but business was good and no one in management cared. Now they are in trouble and tax payer is bailing them out.