Automating home mortgage splits?

[Mike or Penny Novack]

On 6/27/2017 11:44 AM, Dan Rawson wrote:
> Is it possible to automate the splits associated with a  home mortgage 
> transaction?  I am downloading the checking account transactions as 
> QFX from my bank, so from their point of view, it's a single check.  
> As an example:
>
> Check amount:  $3000
>
> For payment X, we might have:
>
> Principal:  $1700
> Interest:  $400
> Tax escrow:  $900
>
> But for payment X+1, the P&I numbers obviously change, while the total 
> and tax escrow amounts are un-changed.  Unfortunately, I can't 
> download the split data from the mortgage holder.
>
> Any ideas on how this might be automated?  Or should I just live with 
> doing the manual entry once per month?
  a) principle and interest part ---- there is no reason to suppose that 
whatever method gnucash would use to calculate an amortization table 
that it would agree with what some bank uses. There are a lot of choices 
and these are not just where to round off. I have written amortization 
table programs.
b) escrow -- there is absolutely no way that guncash could guess this 
amount or predict how it will change. Perhaps you are new to having a 
mortgage and so do not realize that this portion of your payment will be 
adjusted at least once a year << taxes may change, insurance premiums 
may change, and the rules how to adjust are complex because the amount 
collected monthly doesn't just have to pay the total tax + insurance 
premiums but also be OK on a cash flow basis -- the adjustments tend to 
oscillate between under and over >>

Michael D Novack