I need to download mortgage info from Wells Fargo.
Answers
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Hello @Hilda,
Thank you for reaching out to the Community to tell us about your issue, though I apologize that you are experiencing this.
First, could you please provide which version release of Quicken you have currently running?- Help > About Quicken
Unfortunately, the option for "wellsfargononqfx.scr" is no longer supported and was therefore removed from our financial institution list. However, have you tried adding/connecting the account through "Wells Fargo Bank" which is still available in our financial institution list?
Please check back and let us know! Thank you.-Quicken Anja
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For whatever it's worth ... I would not bother attempting to activate any loan or mortgage account for downloading. Set it up as an offline or manual loan account with a complete payment schedule instead. (Not discussing LOC or HELOC accounts here)
An online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.
As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.
Effective with Quicken Windows 2018+
you can deactivate an online-connected loan account and regain full control over your transaction register. However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.
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Response to Anja:
I already tried Wells Fargo Bank and it doesn't work. I am running R33.24 or Build 27.1.33.24.
Someone previously said that mortgages for Wells Fargo are held by Wells Fargo and Company. Why isn't that an option for Wells Fargo?
Thank you.
Hilda0 -
Answer to UKR,
Yes, I know I have to break down the downloaded charge from the bank to post the separate principal, interest, etc. Still, I liked having the balance updated on my list of accounts by downloading. Thank you. Hilda0 -
Hilda said:Answer to UKR,
Yes, I know I have to break down the downloaded charge from the bank to post the separate principal, interest, etc. Still, I liked having the balance updated on my list of accounts by downloading. Thank you. Hilda
With an offline loan account, once properly set up with a Scheduled Reminder, you will have a monthly payment transfer transaction in your checking account, with all the Split detail for Principal, Interest and Escrow, correctly calculated each month. When the download arrives in your checking account, all you have to do is to match it to the register transaction and you're done. The balance in your loan account will be reduced by your monthly payment.
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Do you mean an offline loan account within Quicken? How do I do that so that so that I can match the imported charge? Is it considered a transfer? Thank you.0
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Hilda said:Do you mean an offline loan account within Quicken? How do I do that so that so that I can match the imported charge? Is it considered a transfer? Thank you.
Please read and follow these instructions to set up your mortgage as an offline account:
https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc
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