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Quicken won't work with Quicken Loans ?

jcb2354
jcb2354 Member
I recently refinanced with Quicken Loans (Rocket Mortgage) I have my mortgage account set up online and it seems to work find getting information, payments, etc. I added the account into my Quicken program (R30.12 Build 27.1.20.14) and it seemed to accept it, but every time I try to update (for the last 2 months) I get an cc-501 error "Unable to update these accounts because of an error on the Quicken server. For more information, see this FAQ.

Comments

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Please check the program version again.  The latest version should be R30.14 Build 27.1.30.14

    I suggest you switch from using an online activated loan 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

  • goodrhue
    goodrhue Member ✭✭
    I have a different issue but my topic heading would be the same. I have R30.14, build 27.1.30.14. I have 2 loans through Quicken and linked them both to online services about 6 weeks ago after taking out 1 of the loans. The other loan is about a year old, and while it doesn't show the payments before I linked the account, it shows the correct principal balance and the most recent payment. However, the new loan shows the most recent payment, then it shows an "adjustment" equal to the principal payment so that my balance is (incorrectly) still the original loan balance. This is not consistent with what is shown when I log into Quicken Loans (Rocket Mortgage). I deleted the online link and then set it up again, and it's still incorrect.

    This is especially annoying since it's Quicken linking to itself...
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Quicken Loans and Quicken are two separate and distinct businesses with no connection.  Quicken Loans licenses the name and trademark from Intuit and Intuit no longer owns Quicken.
    As to linking loans, in general, the problem is that you have absolutely no access to a linked loan's register and are at the mercy of whatever the financial institution that holds the loan downloads to Quicken, and that information is, essentially, just the "principal" portion of your loan payment.  It also means that the principal portion of your payment now shows up as a "Category", (i.e., a form of "expense"), in your checking Account register instead of properly being reported as a transfer to the mortgage loan liability Account. 
    More specifically with your "problem" linked loan, what you're describing suggests to me some error in setup, maybe.  It's difficult to know where that principal payment adjustment is coming from since the theory is that everything you see in that register is being fed to you by the lending institution. 
    One thing you might try is to create a new file, a file with only your problem loan in it, link that loan to Quicken loans, and then do an update.  That way you'd have a clean OFX log to look at, one with transactions only associated with that loan, and perhaps could see if that "adjustment" is somehow part of the download vs. something Quicken (the program) is entering.
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