The Charter Oak system is an information control system.  An information  control system is a  process by which information is captured and used to  document all transactions and business  activities.  Information is captured  as close to the source as possible and used as the basis  for the  operations of your business.  A control system is much like an accounting  system  which is based on a double entry process.  

The Control System as a communication media.

A control system is the central repository of information used to better  provide your service  and to create a complete fulfillment of your service.

As much as anyone would say "why would I want to maintain my data in  two places" the  correct response is "how do you know the information in  one place is correct".   

All mortgage originators use processing software to create and manage  loan files.  These  programs have logs and other tools to create the  appearance of auditing and accountability.  Unfortunately, most  communication occurs outside the processing software.  In Mortgage  Origination, originators gather information from borrowers, lenders, realtors,  and attorneys  using the telephone, e-mail, text messaging, faxing, in  person and printed documents.  Every  piece of information may have an  impact on the loan file and must be communicated to the  processor.  

As a result the processor is responsible for managing information from  many communications sources.  This leads to the possibility of errors in  the interpretation of these different sources.  And most importantly the  sources cannot be duplicated.

A Control System accomplished the following:

1. Captures all information one time at the source

2. Leaves a clear and concise trail of information exchange:

3. Validates all source documents for a loan.

4. Generates Control amounts for accounting

5. Generates automatic communications

6. Reports on Actual Activities

7. Ties all business activities into the Company Charter