How to transfer a mortgage loan to a new institution


I am on Quicken Classic Premier for Windows release R55.15.

I recently found out my mortgage is being transferred from Wells Fargo to a new company (Mr. Cooper). What is the best way to update this in Quicken? Do I need to create a new loan with the new institution, balance, interest rate, etc. And then delete the old loan account? Or is there some way to just update the current loan account with the new institution? I also have a linked asset account (my house) that needs to be considered.


  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭

    IF the account is setup for download (which isn't recommended) then you'll need to deactivate it before the changes can be made in the "Account Details" dialog, TOOLS, Account List, click EDIT adjacent to the account name, After you've done that, you can change the FI and account number.

    IF NOT downloading, you can simply change the info in that Dialog.

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