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

bbrotschi
bbrotschi Quicken Windows Subscription Member ✭✭
edited March 2024 in Download, Add/Update Accounts (Windows)

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.

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    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

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • bbrotschi
    bbrotschi Quicken Windows Subscription Member ✭✭

    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
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    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?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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