Drain and rinse the soaked beans. Place them in a large pot and cover with fresh water. Bring to a boil over high heat and cook for about 10 minutes. Skim off any foam that forms on the surface. Then, reduce the heat to low and let the beans simmer for about 1 hour or until they are tender but still hold their shape. Drain and set aside.
In the same pot, heat a tablespoon of olive oil over medium heat. Add the sliced chorizo, morcilla, and ham hock (or ham bone). Saut for a few minutes until they release their flavors and start to brown.
Add the chopped onion and minced garlic to the pot. Saut until the onion becomes translucent and the garlic is fragrant.
Return the cooked beans to the pot, along with bay leaves, sweet paprika, ground cumin, saffron threads (if using), salt, and pepper. Stir well to coat the ingredients with the spices.
Add enough water to cover the ingredients by about an inch. Bring the mixture to a boil, then reduce the heat to low and let it simmer, partially covered, for about 45 minutes to 1 hour, or until the flavors meld together and the stew thickens slightly.
Adjust the seasoning to taste, adding more salt and pepper if needed.
Serve the Spanish Fabada hot, garnished with freshly chopped parsley. Accompany it with crusty bread and enjoy the hearty flavors of this traditional Asturian bean stew.
