Suppose you had an older car that lacked modern safety amenities, like back-up camera or a collision avoidance system, or even a modern sound system that wirelessly connects with your mobile device. But you love the car; it has low mileage and it runs flawlessly. Do you trade it in for a newer model? Seems like a waste of money given how well your car performs. Besides, you would rather not take on car payments.
Now apply this principle to a mortgage platform, be it for loan origination, closing or servicing. What you are using may be technology that you and your employees are comfortable with, but it lacks modern efficiency amenities, like automated closing, file QC and data validation. Is it worth scrapping your current system and starting over with a new platform in the middle of a refi boom?
