Institution not supported

johnodrake

Does Quicken have plans to add Freedom Mortgage Corporation

951 Yamato Road, Boca Raton, FL 3343 to Financial Institutions supported by Quicken

NotACPA

It's not Quicken who decides which FIs are supported. It the FIs themselves. Go bug the mortgage company if you want it to sign the contract with Q/Intuit to be a "Participating Financial Institution".

BUT, having said that, it's ill advised to download into a mortgage account in Q. ONLY the principal payment will download, not the interest component or any escrow withholdings.

You'd be better served by using Q's "Loan Wizard", which works quite well with traditional mortgages.

Boatnmaniac

Quicken itself doesn't add any financial institutions. It is totally up to the financial institution as to whether or not they will support Quicken and once they make that decision they need to contract with the aggregator (Intuit) to get added to the FIDIR (Financial Insitutions Directory) list. Once they have completed that process and been added to the FIDIR list, then Quicken will be enabled to import data from them.

Your best bet to get an answer on this is to contact Freedom Mortgage and ask them. You might need to push the inquiry up management, perhaps in their I/T team, to get an answer. But don't be surprised if they can't or won't provide an answer. At a minimum, make a formal request that they add support for downloading into Quicken. If they get enough customer demand for it, they might at some point make the business decision to do that.

That all being said: Downloading loans/mortgages into Quicken is disappointing for many people because those connected accounts do not have registers and the only thing that gets downloaded is the updated mortgage balance. And there is no way to link the mortgage payment in the checking account to the mortgage account because of that.

What many people prefer doing is to set up an offline loan account designating it as a mortgage. This type of account will have a register, payment history, amortization history and schedule showing the details for PITI and also allows us to link the payment made from checking directly to the mortgage account via a transfer category. It also will set up a Bill Reminder and will calculate the PITI split categories with the historical records being trackable not only in the mortgage account but also in various spending, taxes and debt reports.

mshiggins

Please explain PITI?

NotACPA

https://community.quicken.com/discussion/comment/20465611#Comment_20465611

Principal, Interest, Taxes, Insurance. It's a common term in mortgage lending.