Mortgage transfered to a new lender

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Tom G
Tom G Member ✭✭
in Download, Add/Update Accounts (Windows)
My mortgage has been transferred to a new lender. How do I change the details in the mortgage loan account to reflect the new lender?

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited August 2021 Answer ✓
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    Hi @Tom G

    Is the loan a "connected loan" or a "manual loan"?  Also did you change both the "Account name" and the "Financial Institution" name, or just one of those?

    And the reminders likely will need to be reset, to include the changes above.

    Frankx


                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Options
    Hi @Tom G

    To make those changes, you should:

    1) open the account in Quicken;
    2) click on the "Gear" icon in the upper right of the screen;
    3) select "Edit account details";
    4) make the appropriate changes to the various fields, as necessary.
    5) if this is a "connected" mortgage account in Quicken, you'll also need to go to the "Online Services" tab and first "Deactivate" the old lender and then activate the new lender.

    Get back with any followup questions.

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Tom G
    Tom G Member ✭✭
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    Thanks for the quick response. But the it did not work. I changed the name to the new lender but the loan did not update to the new lenders name. The account name changed but not the loan. And in the Bills and income reminders it does not show remaining payments as it did with the original loan. Still stumped.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited August 2021 Answer ✓
    Options
    Hi @Tom G

    Is the loan a "connected loan" or a "manual loan"?  Also did you change both the "Account name" and the "Financial Institution" name, or just one of those?

    And the reminders likely will need to be reset, to include the changes above.

    Frankx


                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Tom G
    Tom G Member ✭✭
    Options
    Thanks for the help. Looks to be fixed. I had not updated the Financial Institution. Manual loan.
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