I can no longer connect to Roundpoint Mortgage

jduby
jduby Quicken Mac Subscription Member ✭✭
edited January 2022 in Download, Add/Update Accounts (Mac)
Roundpoint recently announced a change to "Servicing Digital". They state...
"Servicing Digital is our new and improved online customer tool that replaced Online Account." Since they made that update, Quicken no longer connects. What action can I take so that the mortgage setup in Quicken will reconnect to Roundpoint?

Thanks for your help!

Answers

  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 2021

    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 each of the monthly payments.

  • jduby
    jduby Quicken Mac Subscription Member ✭✭
    So each month you would need to manually adjust the principle and interest payment amount to account for amortization. Is that right? Is there a way to capture that in a scheduled payment automatically?
  • jduby
    jduby Quicken Mac Subscription Member ✭✭
    Disregard that, I didn't look close enough. Even though it is not connected the mortgage payment is still schedule from the mortgage account.
    Thanks for your input.
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