Control Committee
Compliance with the Code by institutions that adopt it will be supervised by a Control Committee.
The Control Committee on compliance with the Code of Good Practice is made up of 14 members and its functions include:
- Receipt and evaluation of information on requests, in particular on:
- Transactions requested, distinguishing between those executed and those denied
- Foreclosure proceedings on individuals’ homes
- Treatment of mortgage debt linked to individuals’ homes
- Claims processed
- Any other information requested by the Committee
- Publication of a report every six months assessing the degree of compliance with the Code of Good Practice.
- Submission of this report to the Committee on the Economy and Competitiveness of the Spanish Parliament.
- Preparation of the standardised responsible declaration form.
- Analysis and submission to the Spanish government of proposals on the protection of mortgagors.
- Publication of the list of institutions adopting the Code of Good Practice.
Also, the Committee resolves interpretative consultations on the Code of Good Practice and prepares a compendiumAbre en ventana nueva with the answers given to these consultations.
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- One appointed by the Ministry of Economic Affairs and Digital Transformation, who chairs the Committee and has the casting vote.
- One appointed by the Banco de España, who acts as secretary.
- One from the National Securities Market Committee (CNMV).
- A judge appointed by the General Council of the Judiciary.
- A court clerk appointed by the Ministry of Justice
- A notary appointed by the General Council of Notaries.
- One from the National Institute of Statistics.
- One from the Spanish Mortgage Association.
- One from the Council of Consumers and Users.
- Two representatives of non-governmental associations that carry out social integration work and that are selected by the Ministry of Inclusion and Social Security.
- Three representatives of the financial sector –banks, savings banks and banking foundations and credit cooperatives-, one from each association representing their interests.
You can consult the work produced by the Control Committee hereAbre en ventana nueva.
FREQUENTLY ASKED QUESTIONS
What is meant by saying that a restructuring plan is not viable?
Read answeraboutWhat is meant by saying that a restructuring plan is not viable?
Can I request debt restructuring if the loan was not used to purchase my home?
Read answeraboutCan I request debt restructuring if the loan was not used to purchase my home?
