Banking-operations broker (COBSP)
The first IOBSP category: the broker acts under a mandate from the borrowing client and works with several banks without exclusivity. It is the typical status of an independent mortgage-credit broker, registered with ORIAS under the COBSP category.
Key points
- IOBSP status of the broker acting under a borrower's mandate, without banking exclusivity.
- Registered with ORIAS under the COBSP category, they work with multiple institutions.
- Receives a commission from the selected bank and/or client fees depending on the situation.
- Represents the borrower, fundamentally distinguishing their role from the MOBSP.
Frequently asked questions
What concretely distinguishes a COBSP from a bank advisor?
A bank advisor is an employee of a single institution whose commercial interests they represent. A COBSP is an independent professional holding a mandate from their client: they can approach multiple banks, compare offers, and recommend the one that best matches the borrower's interests. This structural independence is the main value proposition of the COBSP status.
How is a COBSP remunerated and how must they disclose it?
A COBSP typically receives a commission paid by the bank on the capital granted, sometimes supplemented by fees invoiced directly to the client. In both cases, the remuneration must be stated in the ESIS (European Standardised Information Sheet) and in the mandate contract before any signature, in accordance with MCD/CCD transparency obligations. This transparency is verified by the ACPR.
What mistakes should be avoided when practicing under COBSP status?
The first mistake is signing a brokerage mandate that is too vague, not specifying the institutions approached or the commission amount. The second is neglecting the annual update of their ORIAS registration in case of a change of situation. The third is not renewing the annual 15 hours of continuing training required under the MCD/IDD, which can result in a suspension of activity.
In practice
A COBSP broker receives a mandate from a couple wishing to finance the purchase of a primary residence. They approach six partner banks, negotiate the best conditions, and present the three most competitive offers to the couple with a detailed comparison table, disclosing the 1% of capital commission they will receive from the chosen bank.
Put it into practice with CourtImmo
See how CourtImmo software helps brokers on this topic:
Official sources
- The banking-operations intermediary (IOBSP) · ABE Info Service (Banque de France / ACPR)
- Article L519-1 of the Monetary and Financial Code · Légifrance
- Single register of intermediaries · ORIAS