Spain's National Commission on Markets and Competition (CNMC) has escalated its investigation into the mortgage sector by targeting intermediaries for suspected price-fixing.
Regulators visited the headquarters of an association representing mortgage brokerage firms last week to examine potential collusion on pricing and commercial policies.
The move signals a broadening of the CNMC's long-running campaign to increase competition in Spain's housing finance market.
By shifting focus from banks to the intermediaries who connect borrowers with lenders, the regulator is scrutinizing the entire value chain for anti-competitive behavior.
This development follows a protracted regulatory dispute involving the Spanish banking industry.
The Spanish Bankers' Association (AEB) has previously expressed confidence in resolving conflicts with the CNMC, but the new probe suggests the regulator is intensifying its efforts rather than winding them down.