I believe that the notion of guilt is one used as a stereotypical aspect of a variety of cultures -- often associated with strong female character (maternal guilt). It plays off of a number of other traits (communal or familial responsibility, a sense of tradition, high expectations etc.) In Judaism, many of these other aspects are present and if you mix in the social construct of centralized authority and a highly ordered, rule based system, guilt and a sense of moral center comes about. A google search on the matter reveals mentions of Catholic guilt as well as others and gives links that point to the theological and sociological underpinnings of many years ago, plus the more recent manifestations and sources.
Does it exist? Yes, and some would say moreso than in other cultures while some would disagree with that.