Allow connection reset on Loan accounts

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Please resolve whatever the technical issue is that will not allow you to reset/repair connections on Loan accounts.

I have one mortgage loan account with CitiMortgage that began failing with a bogus CC-508 error, and found that you cannot disconnect or repair the connection on Loan accounts as you can with all other accounts.  You have to delete and re-establish the account which causes a number of ripple effects to payments/reminders/history.  This needs to be addressed!  After working through several troubleshooting steps with Support including the hidden "Financial Institution Branding and Profile" steps, they advised that again in Quicken 2017, you cannot simply reset or repair the connection, you have to actually delete the account.  

All other online accounts allow a repair/reset, only Loan accounts do not.  This will be the 3rd time I have had to delete and re-establish this account since setting it up as a Mortgage Loan several years ago, seems to happen about once a year.  All this trouble for me and Support time for you because you cannot simply reset the connection.  

Please resolve whatever the technical issue is that will not allow you to reset/repair connections on Loan accounts.
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Larry

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Posted 2 years ago

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splasher, SuperUser

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I'm not arguing against your proposed change and requested fix, but is all the trouble and reduced functionality worth the "time saved" by downloading a single transaction each month versus using the system generated loan reminder that will calculate the P&I and create an appropriate split transaction?
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QPW

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I suspect that its "secondary purpose" was more on the minds of the developers.
As in by allowing the financial institution's information to dictate the transaction, they hoped to get away from the complaints that the loan calculator didn't know to handle every crazy loan payment schedule that the financial institutions could think up.
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mshiggins, SuperUser

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And how is that working for them?
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Larry

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Before the post was hijacked into some general indictment of feature, the point was to fix a bug/feature gap with Loan accounts.   You can reset the online connection on every other account.  On Loan accounts, if there is a connection issue you cannot reset or remove/replace the online connection.  You have to delete the account and re-establish, which is a very poor design decision within the feature.  

Yes, I could set up a manual loan and split the checking transaction into principal, interest, the escrow for insurance, taxes, manually adjust for changes in escrow, and recalc for additional principal, new payoff, etc..  Yes, I could work from paper each month and manually adjust those splits for the odd stuff that happens.  But the feature is designed to do that automatically, and actually does.  Why would you not want that to work as designed?  When the odd connection error occurs on a loan account there is no way to reset the connection, you must delete and re-establish the account, that needs to be addressed.  
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Adri Osman

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Larry, I have 2 mortgages setup with auto updates and I've seen this error often. My workaround is to, without deleting the account, just add the account again by selecting "Add an Account" and going through the steps. During the process, Quicken recognizes that the account already exists and basically 'resets' the account for me. Unfortunately, this doesn't work every time. One issue I have found is when the lender adds an additional step between the login and the account home page (e.g., like an ad for refinancing) - this doesn't allow Quicken to reach the account page and you'll get an error. If you logon and remove this ad, this may solve the problem as well. I hope this helps.
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Larry

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I appreciate the workaround and will try that the next time!
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Arctic Hare (H&B 2019 Canadian), SuperUser

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A word of caution for those using the connected loan feature. If you ever, as many users have, find yourselves in a situation where your EWC setup and/or datafile get corrupted, the process that can fix the corruption requires disconnecting the loan... which you've discovered can't be done without deleting the account. The implication is, using the connected loan feature, is a bit of ticking time bomb as it could prevent you from salvaging a corrupted datafile. Hence, a decision to use this feature could, in the extreme situation, cause you to either delete the account, which causes the already discussed issues or have to start a brand, spanking new Q file.

Given my (all to extensive, painful and time consuming) experience dealing with corruption that results from EWC connection problems, I wouldn't consider using the connected loan feature (unless, of course, they make it possible to deactivate and reactivate those accounts like other accounts... oh, and they'd also have to make it available in Canada, which it is not).

As others have suggested, as the connected loan feature is currently implemented, the disbenefits of the feature outweigh the benefits, IMHO.

(Edited)
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NotACPA - QW HBRP 2019, SuperUser

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Slight correction to last sentence. "HUGELY outweigh the benefits".
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Cris Williams

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Same problem here. When will they EVER resolve this?
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Toporion

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This error continues to occur for my mortgage account.  Thanks to the tip about adding a new account, which essentially reset the connection as I worked through the Wizard.  I don't know why Quicken cannot add that reset on the Account Summary online tab.