This stems from the software patents – software developed before there were enough safeguards in place to protect the consumer…and certainly without any thought of privacy laws.
Were you asked if you wanted to share your personal information? Were you told it would be in an archaic cloud (years before the “cloud” became so popular). The simple answer is NO – you were never advised or told that the information was going into a “data storage” tank accessible to thousands of other people everyday! See the 1003 loan application for example: https://deadlyclear.wordpress.com/2012/04/18/behind-the-securitization-curtain-21st-century-mortgage-casino/