Unable to connect/download transactions from Gateway Mortgage

rwood24

:s Connection to Gateway Mortgage hasn't been working for a few months. When I attempt to connect, Quicken accepts login credentials and even sends OTP to registered email. However, after entering OTP, Quicken returns "Sorry. We encountered an error. (It's not your fault.)...Quicken is having trouble connecting to Gateway Mortgage."

Quicken Anja

Hello @rwood24,

Thank you for reaching out to the Community and telling us about your issue, though we apologize that you are experiencing this.

This is a known issue that our teams are aware of and have opened an escalation ticket for with our service provider. While the investigation remains ongoing, please refer to this open Community Alert for any and all available updates.

We apologize for any inconvenience in the meantime! Thank you.

UKR

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 from your checking account.