Mortgage Setup with Express Connect

slewkowicz

It appears that a mortgage set up with an online update feature does not provide the payment details needed to track individual transactions. Last year I set up a mortgage with Wells Fargo, downloaded the information and created the accounts. Since then, no transactions were showing and I can't reconcile the account.

I later refinanced the mortgage with Rocket Mortgage and did the same thing and encountered the same issue. In order to show the payment details, I had to deactivate the connection. This then allowed me to split the opening balance transaction to pay off the Wells Fargo mortgage. I tried to deactivate the WF connection, but could not do so because I had unreconciled transactions, which did not display.

Any help on this issue or should it be reported to Quicken as a support issue?

Tom Young

I believe that what you describe would be called "working as designed" by the programmers.  IF you set up a loan for automatic update THEN you have no access to the loan's register and must simply accept the numbers pushed to you by the lender.  It's a passive approach to doing your accounting and you have to take the bad with the good, which includes having your loan principal payments treated as a "Category", (expense), which they most certainly are not under conventional accounting principles.

To have access to the loan register you must set the loan up as a manual loan.  In the main this latter approach works well, particularly if you are diligent about reconciling your Accounts, including loan Accounts.