Portfolios are like tags that you can add to loans. They're different from a loan status because a loan can only have one status, but can have many portfolios. So, portfolios can indicate a broader range of information. For instance, you might have portfolios for static information like a borrower's state or province, or use them to track recurring processes like collections or a manager review.
Portfolios are easy to set up and they help you group your loans in a flexible way. This article will go over creating new portfolios and assigning loans to them. There's no limit on the number of portfolios and sub-portfolios you can create, and you decide what to name them as well as which loans to will be added to them.
Since you might use portfolios in a number of different ways, you can assign a category to each portfolio to keep track of what that portfolio is for. These categories are configured in Settings > Loan > Portfolio > Portfolio Categories. The screen lists all of your current categories, and each entry contains an ID, title, and whether the portfolio is active. At the right of each entry are icons that let you toggle the category as active or inactive, edit its name, or delete it altogether. The 'Add' button in the top right lets you create a new portfolio category.
With their categories set up, you're ready to configure the portfolios themselves. Navigate to Settings > Loan > Portfolio > Portfolio Management. This screen lists all of the primary portfolios, and shows their sub-portfolios beneath them. To the right of each entry are icons to edit or delete a portfolio (which will also delete its sub-portfolios).
Clicking the buttons to add or edit a portfolio brings up a window that lets you toggle the portfolio as active or inactive, select a category, name it, and manage its sub-portfolios.
How to Add Accounts to a Portfolio
You can add accounts to a portfolio either at the time the account is created, or at any time after the account is created.
When creating a new loan, the first page includes an 'Add Portfolio' button in the bottom right. From there, choose the category, portfolio, and (if applicable) sub-portfolio. You can repeat this process for any number of portfolios you'd like to add to the loan.
Within an existing loan, you can navigate to Loan Settings > Settings to reconfigure portfolios.
Click 'Edit', then scroll down to the Portfolios section. The 'Add Portfolio' button lets you select new portfolios for the loan, and the 'x' beside each existing portfolio lets you remove them.
The system can also automatically add or remove portfolios through the Rules Applied system. Just set up a rule saying that when a loan meets certain criteria, the system will apply the action of adding or removing a portfolio.
Now that you have learned how to add accounts to portfolios and create a new portfolio category, see API - Loan Portfolios if you'd like detailed material on assigning portfolios in the API.