Any update on the Quicken v. Rocket Mortgage issue? Still does not update.

marz
marz Member ✭✭

Any update on the Quicken v. Rocket Mortgage issue? Still does not update.

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  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓

    @jamie.barmach FYI, the linked Quicken Alert message says "Our teams have confirmed that the errors are being caused by the financial institution blocking our servers." If Rocket is blocking Quicken, there's not a to Quicken can do. Rocket customers should be beating on Rocket customer support to re-enable connectivity for Quicken.

    Quicken Mac Subscription • Quicken user since 1993

Answers

  • Jon
    Jon SuperUser, Mac Beta Beta
    edited June 2

    Quicken Loans is still not working as of a couple days ago:

    I don't see any open alert threads for Rocket Mortgage.

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    @Jon Quicken Loans is Rocket Mortgage. They changed the company name three years ago. I'm a little surprised they still call it Quicken Loans for connectivity to Quicken.

    Quicken Mac Subscription • Quicken user since 1993
  • Jon
    Jon SuperUser, Mac Beta Beta
    edited June 2

    @jacobs Is it? When I go to Quicken Loans the fine print at the bottom says it's a separate company (LMB Mortgage Services) that just licensed the name from Rocket, whereas the Rocket Mortgage page indicates that it's a company owned by Rocket directly. So it appeared to me they were still separate.

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    "Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is an American mortgage lender, headquartered in Detroit, Michigan."

    "In May 2021, Quicken Loans announced that it was formally changing its name to Rocket Mortgage, a subsidiary of the publicly traded Rocket Companies (RKT)."

    LMB Mortgage Services, Inc. is LowerMyBills.com and is not a mortgage provider. It describes itself as "a premier, free online service for consumers to compare low rates on monthly bills and reduce the cost of living." The website offers service such as:

    • Free mortgage tools and calculators to help you understand and take control of your finances.
    • Practical tips and resources to answer your questions about getting a mortgage, refinancing your home, and more.
    • Comprehensive, step-by-step homebuying and refinancing guides.
    • An easy way to find and compare lenders.

    I'm not sure how LMB came to use the Quicken Loans name; that's news to me. It seems Rocket Mortgage must have licensed it to them? In any case, I don't think they're a loan provider, so anyone trying to connect to their loan provider is looking for Rocket Loans, not Quicken Loans.

    Quicken Mac Subscription • Quicken user since 1993
  • Jon
    Jon SuperUser, Mac Beta Beta
    edited June 2

    All I know is QuickenLoans.com is still there and apparently still doing mortgages, and it says it's owned by LMB Mortgage Services.

    https://www.quickenloans.com

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    All I know is QuickenLoans.com is still there and apparently still doing mortgages

    @Jon Nope. You're skipping the first sentence in the footnote you're quoting from: "LMB Mortgage Services, Inc., (dba Quicken Loans), is not acting as a lender or broker. The information provided by you to Quicken Loans is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network…"

    Quicken Mac is still using "Quicken Loans" to connect to Rocket Mortgage because Rocket Mortgage was originally Quicken Loans:

    But now, what used to be Quicken Loans is Rocket Mortgage, and Rocket Mortgage has apparently licensed the old "Quicken Loans" name to LMB.

    Doing a little searching on the Internet Archive, I found that the site "quicken loans.com" was the Rocket Mortgage site until the end of October of last year. Here's the top o the page, followed by the footnotes, which have no mention of LMB:

    And then in early November 2023, the site transformed into what you see today at "quickenloans.com" — a site operated by LMB Mortgage Services:

    It looks similar, but notice the blue banner which says: "Welcome to the new Quicken Loans, the cutting-edge online marketplace transforming the way you find financial providers." At the top, there is no longer a login button and the Rocket phone number is gone. The page no longer references Rocket at all, except in the footnotes.

    I clicked on the link to Buy a Home, answered about a dozen questions, and ithe site told me it found a mortgage lender for me. Any guesses? Why yes, Rocket Mortgage is the number one match! (And, in fact, the only one where I could click through to start an application):

    Well, @Jon, thanks for leading me down this rabbit hole! 🤣 But I learned something new. I had figured the Quicken Loans name would fade away after the company changed its name to Rocket Mortgage. But they're smarter than that; why give up the brand/name awareness? So instead, they licensed it to another company — which it appears they had worked with before for some of the mortgage info content on their website — which will send people to Rocket Mortgage. Clever.

    Meanwhile, back to Quicken. Quicken needs to update its connectivity for "Quicken Loans" to point to RocketMortgage.com, or remove Quicken Loans as a financial institution entirely.

    Apologies to the original poster, @marz, for taking this discussion off on quite a tangent. 😉 You were seeking information about not being able to connect with Rocket Loans, and I'm afraid only the folks at Quicken — and really the folks at Intuit who handle connectivity services — can address that.

    Quicken Mac Subscription • Quicken user since 1993
  • Denizen
    Denizen Member ✭✭

    The discussion thread that had the status, https://community.quicken.com/discussion/7948897/new-3-25-24-quicken-loans-fdp-103-cc-503/p1?new=1

    blocks me from access. Is there an update? Is it deleted? Is Quicken just concealing for whatever reason?

    Like others here, I just want it to work…..

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    @Denizen That thread was "archived", which is what's preventing it from being viewable. Threads are typically archived after an issue has been marked as resolved, but the last post in that thread was that it was "Ongoing" as of April 8. I flagged it for a moderator to see why it was archived if it wasn't resolved.

    Quicken Mac Subscription • Quicken user since 1993
  • Quicken Anja
    Quicken Anja Moderator mod

    Hello @Denizen,

    The Alert you linked is inaccessible because it was archived as it’s a duplicate of the other Quicken Loans Alert which is linked by @Jon in the beginning of this thread. Please refer to the Alert linked by Jon for updates going forward.

    We apologize for any confusion! Thank you.

    -Quicken Anja
    Make sure to sign up for the email digest to see a round up of your top posts.

  • jamie.barmach
    jamie.barmach Quicken Windows Subscription Unconfirmed

    Yes there needs to be a resolution to this issue. It has been an ongoing issues for months and I do not find this acceptable.

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓

    @jamie.barmach FYI, the linked Quicken Alert message says "Our teams have confirmed that the errors are being caused by the financial institution blocking our servers." If Rocket is blocking Quicken, there's not a to Quicken can do. Rocket customers should be beating on Rocket customer support to re-enable connectivity for Quicken.

    Quicken Mac Subscription • Quicken user since 1993
  • karettin
    karettin Member

    Jacobs, you stated "Rocket customers should be beating on Rocket customer support to re-enable connectivity for Quicken.", so I reached out to Rocket Mortgage, advising them there was an issue with connectivity with Quicken. This was their reply: "We do apologize for the experience you've encountered, we do not block any third party apps from connecting with us at this time. For additional assistance with your Quicken account, you will need to contact their support team to get assistance."

    So…they have thrown the problem back at Quicken, and we still can't easily download information. :(

  • Jon
    Jon SuperUser, Mac Beta Beta

    we no longer allow access to […] products such as Quicken

    we do offer a comparable product known as Rocket Money

    I think that says it all.

  • Ede1911
    Ede1911 Member

    Since it will not auto update. Is there a way to download transactions into Quicken? The one for my Apple card and Savings works great. Haven't seen anything like it on the Rocket Mtg site.

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    Since it will not auto update. Is there a way to download transactions into Quicken? The one for my Apple card and Savings works great. Haven't seen anything like it on the Rocket Mtg site.

    That's a question you need to ask Rocket customer support. If they won't allow live connections from Quicken and other software providers, then will they provide the ability for users to download their transactions? The problem is that they'd need to offer downloads in Quicken's QFX format, and it sounds like they are just not interested in helping their customers work with financial management software. But it seems worth bugging them about!

    Quicken Mac Subscription • Quicken user since 1993
  • ADyn
    ADyn Member ✭✭

    I contacted Rocket mortgage also and first got this reply:

    "Thank you for your email. We understand your concern about the ability for your Quicken software to automatically access you site. However, for the security of your loan and personal information we have set up where third parties are unable to access you RocketMortgage.com account. This is unable to be removed. However, you can reach out to Quicken to see how you can provide your mortgage information in order to utilize their software moving forward. "

    I replied and asked why they block this access while pretty much every other financial institution out there does not and got this reply:

    "Thank you for reaching out to us. Apologies for any inconvenience! I hear and understand your concern in regards to the Quicken access. The quicken product has been decommissioned. The service will not be re-established. Apologies for any inconvenience. If you're interest in using a similar app, you can utilize our Rocket Money app that has a free subscription for serviced clients! To set this up, you'll want to navigate to rocketmoney.com. You will then click 'sign up' to create your account and you'll use your same email address that used to sign in through your online rocket mortgage account. "

    Literally the only account I have that doesn't work. Extremely annoying.

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    @ADyn For kicks, you could ask them a follow-up question: "I understand you have blocked access for Quicken and other third-party applications for security reasons, but why don't you allow users who login to their Rocket accounts to download their own transactions in Quicken (QFX) format? Many banks do so. There is no security risk for Rocket — only a service many of your customers would find helpful."

    It appears they want to drive Rocket customers to use their Rocket Money app, which can connect to other financial institutions to download transactions like Quicken. They clearly know the methodology is not insecure, because they have an app that does it! They just want you to use their app, by making it harder for you to use third-party apps.

    Quicken Mac Subscription • Quicken user since 1993
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