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My Wells Fargo Mortgage Loan is No Longer Displaying Payment History

HJR

When in my account, the payment details tab no longer displays my payment history as it does for other loans. This just happened recently. When I look at the payment schedule, I can see the entries. If I deactivate the Home Mortgage account the payment history appears but as soon as I activate the Home Mortgage account the payment details disappear.

Any thoughts on how to resolve this?

Thank you

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Comments

Tom Young

"If I deactivate the Home Mortgage account the payment history appears but as soon as I activate the Home Mortgage account the payment details disappear."

I take it that you're referring to stopping downloads from the financial institution servicing the loan, making it a "manual" Account, and then re-establishing downloading from the financial institution? If that's the case then my understanding, having never actually downloaded information into a Quicken loan Account, that the lack of a register for a downloading loan is by design, and the only way that you get to see the loan register is by disconnecting the Account from the financial institution.

The conceit here is that a downloading loan is always getting perfectly accurate information sent to it from the financial institution, so there's really no need for you to see the loan register. Of course that "perfectly accurate" aspect doesn't always work as well as one would hope. But assuming everything actually is working properly, if you want to see your payment history on the loan you should be able to do that by using reports run on your checking Account, picking up the loan principal CATEGORY (not transfers to the loan Account) that's used in a "downloading loan" situation.

mshiggins

Since I have downloaded a few loans (both auto and mortgage), perhaps I can clarify some of the confusion on the subject of online-enabled loans.

It's true that the register for a Quicken online-enabled loan is not available to the user - not directly visible and not modifiable.

The reason is that it would be virtually impossible for Quicken to keep the Quicken loan register accurate, if the user could modify its contents.

But there's more to this issue.

Users are not really missing anything by not being able to directly view the contents of the register of a Quicken online-enabled loan: such a register has only one "transaction" ... that one transaction contains the balance of the loan as of the most recent download to the account. That account balance value is readily available in multiple other places in Quicken (though the lack of "history" in the online-enabled loan account will make it meaningless, or distorting, to include it in certain reports/displays).

[Just because an online-enabled loan account register is not directly accessible, does not mean its contents cannot be viewed ... for whatever that may be worth. Any Quicken report that will list non-investment account transactions will display the contents (that single account balance transaction) of a Quicken online-enabled loan register.]

Regarding the desire to download: I think many Quicken users don't realize that they will actually lose capability by downloading traditional mortgage loans.

Quicken can handle traditional mortgage loans completely and accurately, allowing the user to avoid any manual effort while having a complete picture of the breakdown of each payment, and a readily visible/accessible running record of the loan balance in the loan account. If the loan payment transaction is created by and auto-entered by Quicken, the user need do nothing but insure that, if/when the loan payment transaction is downloaded, it is correctly matched to the Quicken Auto-entered payment transaction.

For loans other than traditional mortgage loans, there will likely be some manual effort involved whether the user chooses to enable the loan for downloading or not.

Simple-interest loans (such as, I believe, most auto loans) are particularly problematic in Quicken since they virtually never follow a payment scheduled precisely, while Quicken's loan payment transactions are always based on the Quicken created loan payment schedule. Even that problem isn't fatal: it just requires modifying each (or most) loan payment transactions to adjust the principal/interest split. Non online enabled loans provide more useful detail than online-enabled loans ... sometimes, as here, at the expense of having to modify the loan payment transaction splits.

[It is possible to setup the same loan twice in Quicken: once as a manual loan and again as an online-enabled loan (assuming the lender permits loan account downloads).

The online-enabled loan account balance could be used as a double-check against the manual loan account balance. The online enabled loan can have its "Display Options" set to "Keep this account separate ....", to avoid unintentional interference with displays/reports. (The "Hide in transaction entry list is automatically set for online enabled loans, and can't be changed). If the "Hide account name in account bar and account list" Display option is left ON, the online-enabled loan balance can be seen in the Account Bar. And virtually every Quicken report has the option to display "Separate" accounts.]

-JP