Auto-calculate interest, principal, and escrows for mortgage payments

Wishlist
21

I’d appreciate this feature. I currently have 2 properties but will be scaling up and I can’t imagine doing this for more than 2 properties.

22

I have two mortgages with Wells Fargo and Stessa just auto split and categorized the transactions. That was very cool! Interesting that I have the mortgage payment transactions in Stessa both from my checking and the mortgage account. Stessa auto-categorized the transaction from my mortgage account, not from my checking account. I have been simply categorizing the transactions in the mortgage as “transfers” so I don’t double count and categorizing the transactions from my checking. Is this the best way to do it? Interested to hear if someone has a better way.

23

@david.matarazzo2 Yes, this is the best practice. Stessa will often auto-split mortgage interest and principal payments received via mortgage data connections. The system should then auto-categorize the checking account side of the transaction under “Transfers.” To the extent you are having to do this manually, please open a 1:1 support ticket and we’ll investigate for you.

24

I agree Stessa definately needs an amortization schedule function to track mortgages and auto-update principle balance. This is the reason I’m not all in on Stessa yet.

2 Likes
25

yes, this is a must have

1 Like
27

hi devin… does this split out of escrow work for rocket mortgage. thanks.
Brian

28

I’m not 100% sure, sometimes it depends on the type of loan, etc. Best way to find out is to link via your External Accounts page and import your data.

29

We pay a fixed principal and fixed interest each month, but it’s paid to an individual (not a bank), so hence no feed.

Could there be a simple version of payments with interest where I describe the split amount and what % of that is interest?

Or a button to say “use this month as the example” and go back and split any matching amount exactly this way (no amortization). Even if it was only going forward, it would still be helpful.

Alternatively, if the feed API you use for mortgage tx available, I could write a server to pass these to Stessa each month. The calculation is very simple for us, but so tedious to manually split each month.

Thank you,
Mike.

30

Thanks, Devin. I am still working on it. I don’t see how to open a 1:1 support ticket. Thanks.

31

if you’re logged in on a computer, use the blue circle at lower right to open a 1:1 support conversation. On mobile, tap the “Support” option in the main menu.

32

Yes, this feature would be helpful - please count my vote.
The ability to input a commercial mortgage work. With the ability to assign/split the mortgage across all properties in the loan seems like a possible solution. In this way, when a payment is received for this mortgage, Stessa does the math in the background for each property.

33

Yes, this is my vote to create a feature that automatically uses the loan details to split mortgage payments between principle and interest.

34

Yes, Yes, Yes please develop this feature. Doing this manually is painful!

3 Likes
35

Up vote! This would be an INCREDBILE time saver. PLEASE!

2 Likes
36

I have a mortgage through PennyMac and I liked the account. It worked!!..for 2 months…then it stopped. Now it says the folder is up to date (I’ve refreshed it multiple times), but there are 2 monthly payments that have not come in at all. I’m being told by Stessa that they are waiting on Yodlee to look into it…it’s been almost a month now. Please get this back to where it was working before, it was great!
Thanks.

37

yes we absolutely need this- cannot do this manually each month

1 Like
38

PennyMac used to be able to split it out automatically, but it seems in recent months this is no longer the case. Perhaps someone can investigate as this appears to be a regression in the account sync.

39

This would make Stessa sooo much better!

40

Yes Vote, Yes Vote, Yes Vote!

41

Hello It seems that the split is happening for BSI loans, we have several, however All the principal balances for the 5 loans are coming back as the same ( the first loan amount). Also the escrow payment is coming back as general mortgage payment rather than Transfer-> General Escrow payment. I also add each month any escrow payments of property tax or insurance. Why not get to where the import and split is complete and correct?