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No Option To Reactivate Loan Account After Deactivating

I recently changed my username in Rocket Mortgage. I had it previously set-up to download. Since there's no option to change username, I deactivated the online services and was going to the re-activate just like I've done with bank accounts, credit cards, etc.

After I deactivate, there is no longer an option in the Loan Details to activate again. How can I activate again?

Best Answer

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Accepted Answer

    For whatever it's worth ... I would not bother attempting to activate any loan or mortgage account for downloading.  (Not discussing LOC or HELOC accounts here)

    An online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

    As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

    • Effective with Quicken Windows 2018+
      you can deactivate an online-connected loan account and regain full control over your transaction register.  However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.
    • Users of Quicken 2017 and older:
      If you want to have full control over both the loan account register and the payment transactions you need to set up your loan account as a "manual loan account" and use the Scheduled Reminder created by the setup process to record your payment transaction on or before the due date.
      If you have already established a connected loan account and are having problems with it please take a look at this:
      How to convert back to a manual loan
      https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    This is a complete shot in the dark and if it works I can't even tell you why it works, but try Edit > Preferences > Downloaded transactions > tick "Automatically add to bank registers."
    Apparently this will let you convert the loan from a downloading loan to a manual loan.  It might trigger something else with the loan that will allow for re-activating.  If it works then you should be able to go back to Preferences and untick the "Automatically add to bank registers."
  • Tom, thanks for the suggestion - I am all about trying anything, regardless if someone can explain why it works or not ; - )

    It didn't work. My problem is that I already deactivated the account previously - because I figured I could just go back in and activate it like all my other banking accounts. ; - )

    Thanks again for the suggestion
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Accepted Answer

    For whatever it's worth ... I would not bother attempting to activate any loan or mortgage account for downloading.  (Not discussing LOC or HELOC accounts here)

    An online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

    As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

    • Effective with Quicken Windows 2018+
      you can deactivate an online-connected loan account and regain full control over your transaction register.  However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.
    • Users of Quicken 2017 and older:
      If you want to have full control over both the loan account register and the payment transactions you need to set up your loan account as a "manual loan account" and use the Scheduled Reminder created by the setup process to record your payment transaction on or before the due date.
      If you have already established a connected loan account and are having problems with it please take a look at this:
      How to convert back to a manual loan
      https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc

  • Thanks for your info. I don't care about transactions registers, etc. I understand that the online update I had previously would basically just update the loan balance automatically from the download. That's all I want. I enter the payment each month manually.

    The problem is that after I deactivated the online update to change the username, Quicken does not give me an option to create a new online link to Rocket Mortgage like I had before.
  • I just deleted the account and re-added it as new. That wasn't a huge lift.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    For what it is worth, it makes perfect sense that you can't activate a loan account for downloading once you have deactivated it.

    One has to ask themselves why the Quicken developers choose to hide the account register when downloading loan accounts.  And the answer is that they decided that for downloading loan accounts all the information would come from the financial institution and since there would be no way to "reconcile" this information with what a user might enter and keep it in sync they hide the account register.  And before that was the end of the story, but starting in the Subscription version they allowed the user to get out of this downloading mode, but for the reasons I just stated it would make no sense to allow the user to reactivate it for downloading.  It be right back to the problem of how to keep thing in sync.  If they could have done that in the first place they wouldn't have hidden the account register.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
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