Feature request: fix mortgage account import
I have a mortgage account ( yourmortgageonline.com ) and when it imports my monthly payment, it shows the entire payment. This is pretty much useless. A mortgage payment contains principal and interest and can also include escrow components like property taxes, PMI, and homeowners insurance. The account balance, however, only adjusts based on the principal portion. I'd like to avoid having to log into my mortgage site every month to check the principal amount and manually adjust the incoming transaction.
That’s the info coming from your bank. I don’t imagine there’s much YNAB can do about that.
Personally, I only update my mortgage principal (in Personal Capital; I find YNAB more work than I want for tracking my net worth) once a quarter. It’s not a payoff priority for me and I’m near the beginning of my term so that’s all the movement I really ever need to see.
Whether YNAB can do anything depends on the kind of data they have available from their import partner. I work as a programmer and I could definitely implement this myself. They really shouldn't offer to integrate sources that behave this poorly. As-is, it's basically useless for anything other than a recognition that the transaction has cleared. But I already get that from my bank every time I make a payment, and I'd see it in the bank ledger anyway.
Hi Cadet Blue Sloth !
Sorry to hear that import is giving you so much trouble. The accounts we suggest you add as Tracking accounts (Mortgages, Investment accounts, etc) don't always import well, if they import at all. We're only able to import the information the bank provides, so you'd need to manually enter a transaction to account for the PMI, interest, and other additives.
We know it's an extra step, but if you click Edit next to the name of the account, you can change the Today's Balance entry and YNAB will automatically adjust the account for you.
I have a similar question as the OP. (I'm near the end of my first month of YNAB, and I have my mortgage account in a Tracking Account.) I budgeted the entire monthly payment as "Mortgage Payment" in YNAB, but then direct import just brought in an "inflow" transaction (the mortgage account doesn't appear to have in/out columns on my bank website) for Property Tax. What the transaction is really showing (on my bank website) is the bank paying my quarterly property tax payment from an escrow account.
Since I primarily use YNAB as a budgeting tool, should I just remove the mortgage as a Tracking account and only track the expense coming out of my checking account without the correlating mortgage account side?
Alternatively, I'm curious how the OP (or others) would categorize the "inflow" into my mortgage account that is really an "outflow" of my bank paying property tax from escrow, so the mortgage principal balance isn't affected.
I've enjoyed YNAB so far, but this is the most confusing thing I've seen so far.