Can't add Rocket Mortgage account - it is not in the list of Banks - any thoughts?

When I attempt to add my Rocket Mortgage account to my financial file, it is not listed on the supported banks. I may be doing something wrong, but what?

Best Answers

  • Quicken Paloma
    Quicken Paloma Moderator mod
    Accepted Answer
    Hello @pauljhauge

    Thank you for reaching out to Quicken Community. We apologize you are having difficulties adding your mortgage account. However, I was unable to find a viable instance which means that at the moment that particular financial institution is not supported. You are indeed not doing anything wrong and we apologize for the inconvenience. 

    Hope this provides clarity. Please let us know of any questions or concerns. 

    -Quicken Paloma 
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Accepted Answer
    Quicken Loans changed its name to Rocket Mortgage sometime this year.  The fidir.txt doesn't have "Rocket Mortgage" listed, but "Quicken Loans" is still there.  You might see if you can use the Quicken Loans financial institution instead.

Answers

  • Quicken Paloma
    Quicken Paloma Moderator mod
    Accepted Answer
    Hello @pauljhauge

    Thank you for reaching out to Quicken Community. We apologize you are having difficulties adding your mortgage account. However, I was unable to find a viable instance which means that at the moment that particular financial institution is not supported. You are indeed not doing anything wrong and we apologize for the inconvenience. 

    Hope this provides clarity. Please let us know of any questions or concerns. 

    -Quicken Paloma 
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Accepted Answer
    Quicken Loans changed its name to Rocket Mortgage sometime this year.  The fidir.txt doesn't have "Rocket Mortgage" listed, but "Quicken Loans" is still there.  You might see if you can use the Quicken Loans financial institution instead.
  • UKR
    UKR SuperUser ✭✭✭✭✭

    Just my 2cents' 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)

    At least in Quicken for Windows, 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.

    If you're a Q Mac user, you should be able to do something similar about setting up and maintaining an offline mortgage account together with a correctly calculated Scheduled Transaction Reminder for the monthly payments.