Tue. Apr 23rd, 2019

The regulation gives notaries exclusive electronic processing of mortgages

The regulation gives notaries exclusive electronic processing of mortgages


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MadridUpdated:

The drafting of the mortgage law continues to generate controversy, now by the regulation with which the Ministries of Economy and Justice are developing some articles. As ABC has learned, the draft of this regulation has received a public consultation phase allegations of private companies of the sectors of process outsourcing and trustworthy electronic services, considering that their small print, as written, could give to the private platform of notaries, Ancert, the exclusive of the electronic processing of mortgages. Faced with this situation, Economía does not rule out revising the text

The real estate credit law It establishes that all the documentation that the bank must deliver to the client - binding offer, information on relevant clauses, copy of the draft contract -, as well as the consent of the consumer, will be delivered to the notary " secure telematic means ».

The first draft of the law, of 2017 and designed under the baton of the then minister Luis de Guindos, established that Only the Notarial Certification Agency (Ancert) was used, limited sole proprietorship participated only by the General Council of Notaries. However, in its parliamentary procedure and in view of the misgivings generated by that wording due to the possibility of creating a monopoly, the political groups reviewed its wording.

The commission of Economy, according to parliamentary sources, agreed that the Article 14 of the law open that process to the competition, because there are other companies that provide this same service, but setting very careful technical requirements for guarantee safety and protection of the information of the consumers. In the end, the law left it pending the regulatory development of the mortgage law.

The draft of this regulation, which has already been submitted to public consultation, sets out in its Article 11 some requirements and makes a reference to the law 24/2001, that in practice, according to the sources of the sector consulted by this newspaper, they would indirectly grant the service exclusively to notaries. In particular, this law speaks in article 107 of the obligatory implementation of telematic systems by the College of Registrars and the General Council of Notaries. For its part, the draft regulation requires that the platform ensures "the connection between all notaries", something that only Ancert guarantees.

Companies of the sector have presented allegations to the text of Economy and Justice to consider that this would restrict competition both at a national level, where a score of companies of this type operate, as well as at a European level, and would violate the principle of technological neutrality. The department led by Nadia Calviño, as this newspaper has learned, already contemplates the possibility of retouching the writing of the project, but still works on the final text that will lead to the Council of State.

From the General Council of Notaries they have remembered that their platform «Meets the established requirements both in the Real Estate Credit Act and in the draft decree "and is in any case" under the supervision of the Ministry of Justice ".

In addition, the Council has emphasized that «Freedom of competition is assured» because banks can choose the telematic means they consider appropriate. "This solution is the only one that ensures that consumers can choose the notary, without being at the expense of the monopoly often exercised de facto by possible intermediaries," they add from the Notary.

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