There was a pronounced difference of opinion between a leading industry attorney and a top official from the CFPB at a recent event over whether the bureau’s proposed mortgage servicing standards create a private right of action that could bring any foreclosure proceeding to a grinding halt. During a webinar sponsored by Inside Mortgage Finance, Larry Platt, financial services practice area leader with the law firm of K&L Gates, said, “The consequence of these regulations is to create a federal cause of action that...