CC-502 Error - trying to add Flagstar Mortgage Account

als995
als995 Member
I get the code from Flagstar through the add new account process. However, after that I get error code CC-502. This has been going on for a few weeks.

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Have you searched the Community? There are numerous discussions related to connectivity problems with Flagstar.

    Just my 2cents' worth ... for best results do not activate any loan or mortgage account for downloading. Maintain it as an "offline" (manual) loan account instead.  (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.


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