Express Web Connect with LoanCare ( a loan servicer)

We recently added our new home's loan servicing provider (LoanCare) to Quicken. Quicken used Express Web Connect and Quicken downloads the information. However, I can no longer access my account at LoanCare. The LoanCare helpdesk has reset my account multiple times and they are as frustrated as I am. I seem to be the only customer having a problem. This all started shortly after I added the home to Quicken and LoanCare went to a second level of security requiring a six digit code sent to me to be entered. Is this a coincidence or a conflict between Quicken Express web Connect and LoanCare?

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭

    Have you tried this yet (if your bank recently changed their website or password requirements)?

    How to refresh financial institution information (Branding)

    Please read and follow instructions here:
    https://www.quicken.com/support/quicken-uses-incorrect-url-online-banking
    If that doesn't resolve the issue:

    • It is the bank's or biller's contractual obligation to notify their Quicken download service provider, Intuit, of any changes to their websites and download functions in a timely manner before the change is implemented. Intuit needs a sufficient amount of lead time to review, change and test their programs, to adapt to the changes the bank makes.
    • The bank also needs to notify their customers of this change and any actions that might be required by the customer to regain access.
    • If they didn't do that, complain to your bank's upper level management.
    • Also contact Quicken Support via Chat or Phone at https://www.quicken.com/support#contact-support  and report this Online Banking issue, so that Intuit Inc. can be notified of the issue.  Ultimately, however, the bank must work together with Intuit on solving this update issue.

    Please let us know if you were able to get this issue resolved (or not).

    -------------------

    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.


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