Not connecting to Loan Depot

I'm experiencing the same problem as David Green (see below) and a few others are having:
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David Green on 14 June wrote:

After a refinance I was trying to configure my new mortgage for online access to Loan Depot. The two options that Quicken give me are:

https://loansphereservicingdigital.bkiconnect.com/loandepot/#/login
https://loandepot.loanadministration.com/loandepot/#/login

After having problems using those sites I called Loan Depot. They have moved to new loan servicing centers. When will Quicken be updated to be able to connect to the new site?

This affects both Quicken for Windows and Quicken for Mac.
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It's been almost 4 months, any resolution to this problem?

S. Alama

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭

    Have you tried this yet?

    If your bank recently changed their website or password requirements please read and follow instructions here:
    Quicken Uses Incorrect URL for Online Banking

    For online billers please see if you can manage (remove and re-add) the online biller, to see if their profile has already been updated.

    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 in a timely fashion and detail any actions that might be required by the customer to regain access after the change was introduced.
    • If they didn't do that, complain to your bank's or biller's upper level management.
    • Also contact Quicken Support via Chat or Phone at https://www.quicken.com/support#contact-support  during posted hours of operation and report this Online Banking issue, so that Quicken Support can escalate this issue to Intuit Inc.  Ultimately, however, the bank or biller 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).

  • When I click on the Quicken URL for Loan Depot (https://loandepot.loanadministration.com/loandepot/#/login) it works and I can login to their website. When I try to reconnect my existing account it fails. When I try to add a new "Loan Depot" account it fails. Both are "Quicken Sync" errors.
  • Quicken Paloma
    Quicken Paloma Alumni ✭✭✭✭
    Hello @atrian50

    Thank you for reaching out to Quicken Community. I apologize you are having this issue. There is currently an open alert for Loan Depot and is being worked on. Many users are being affected and are unable to add/update their account(s). This could very well be correlated with the current alert since I was also able to replicate it on my end. 

    Again I apologize for the inconvenience this issue has caused. There is no ETA for a solution at the moment, but we encourage you to bookmark the post linked below for any updates. 

    https://community.quicken.com/discussion/7899443/new-9-20-21-loan-depot-returns-cc-501-error#latest

    Hope this helps and provides clarification. Please let us know of any questions or concerns. 

    -Quicken Paloma 
  • UKR
    UKR SuperUser ✭✭✭✭✭

    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 which should be treated like credit card accounts)

    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.


  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @UKR Just noting that this thread was about Quicken Mac, and several things you wrote about loans are different in Quicken Mac than you described for Quicken Windows. (There is a loan account register; the scheduled payment transaction can transfer money from checking to the loan account register, and can include splits for interest, escrow, etc.)
    Quicken Mac Subscription • Quicken user since 1993
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