my home mortgage has been sold - how to update that in Quicken.

Question

my mortgage has been recently sold (Flagstar Bank to Roundpoint Mortage Servicing LLC). What are the recommended steps for me to take regarding accounts within Quicken. Currently I have a "Property & Debit" account for the Flagstar Bank mortgage account, in addition to another "Property & Debit" account to track the asset / home.

NotACPA · Answer

With a mortgage download from the mortgage company, typically, only the Prin payment is downloaded … not the Interest payment or any Escrow payments

Are  you getting more than that?

bbrotschi · Answer

NotACPA, thanks for your reply. Great points. The account is currently setup to download payment details from the prior lender (Flagstar Bank). Payment of the mortgage is setup for a scheduled ACH to my checking account.  I will see if I can edit the existing account to do the same (e.g. download transactions) for the new lender (Roundpoint Mortage Servicing LLC).

NotACPA · Answer

Are  you downloading into that  mortgage?  Are you originating your mortgage payment from within Q

Is Q doing anything other than recording the payments that you make?

Because,  your actions might be as simple as changing the names of the accounts