Will Quicken ever access Mr. Cooper

Edward

I negotiated a mortgage with USAA Federal Savings Bank, which spun of Northstar Mortgage LLC, which has created Mr. Cooper to service the mortgages. I was able to direct connect to my USAA mortgage. The Northstar mortgage was accessed through a link supplied by USAA. But now that Mr. Cooper is servicing the mortgage, I can no longer link Quicken to this most important financial liability. Will Quicken work with Mr. Cooper, (Mr. Cooper is a registered service mark of Nationstar Mortgage LLC) to establish a direct connect or express connect?

UKR

Edward said:

When I tried to modify the original mortgage, I found the "Mr. Cooper, formerly Nationstar Mortgage Holdings Inc." link and when I updated the mortgage data suddenly the account showed "paid in full" when I actually still owed a substantial sum. I could not correct it. So I tried to open a new account, but then the Quicken account search engine does not find "Mr. Cooper, formerly Nationstar Mortgage Holdings Inc." so I tried to set it up manually but them I cannot download the mortgage information.

Just my 2cents' worth ... I would not bother attempting to activate any loan or mortgage account for downloading. I would just simply set them up as "offline" (manual) loan accounts. 
(Not discussing LOC or HELOC accounts here. They should be set up 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.

splasher

You would have to ask Mr. Cooper, it is the financial institution that decides if THEY support Quicken downloads, not the other way around.

Boatnmaniac

Hi @Edward .  If you meant that Mr Cooper was created by "Nationstar" instead of by "Northstar", there is an Add Account link in Quicken for Mr. Cooper, formerly Nationstar Mortgage Holdings Inc. that might set up an Express Web Connect for it. Have you tried using that set up link? 

If so:

1. Did you try doing the set up to actually add the mortgage as a new account or did you try to set it up with a link to the current mortgage account?
2. If it doesn't set up for OSU, did you get an error code or message of some sort?  If so, what was the error code or message? 
   

Edward

When I tried to modify the original mortgage, I found the "Mr. Cooper, formerly Nationstar Mortgage Holdings Inc." link and when I updated the mortgage data suddenly the account showed "paid in full" when I actually still owed a substantial sum. I could not correct it. So I tried to open a new account, but then the Quicken account search engine does not find "Mr. Cooper, formerly Nationstar Mortgage Holdings Inc." so I tried to set it up manually but them I cannot download the mortgage information.

UKR

Edward said:

When I tried to modify the original mortgage, I found the "Mr. Cooper, formerly Nationstar Mortgage Holdings Inc." link and when I updated the mortgage data suddenly the account showed "paid in full" when I actually still owed a substantial sum. I could not correct it. So I tried to open a new account, but then the Quicken account search engine does not find "Mr. Cooper, formerly Nationstar Mortgage Holdings Inc." so I tried to set it up manually but them I cannot download the mortgage information.

Just my 2cents' worth ... I would not bother attempting to activate any loan or mortgage account for downloading. I would just simply set them up as "offline" (manual) loan accounts. 
(Not discussing LOC or HELOC accounts here. They should be set up 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.

Edward

Thank you, I will leave it offline.