Portfolio Type

The Portfolio Type field should contain the value for the accounts portfolio type.

Values available:  


C = Line of Credit - An agreement between an institution and a consumer where the institution agrees to lend a consumer funds up to an agreed upon credit limit. The consumer may borrow as much of the line as needed and pays interest on the borrowed portion only. Payment amounts are revolving, based on the outstanding balance amount.  

I = Installment - A loan repayable in installments, usually in set monthly amounts.

M = Mortgage - A written conveyance of title (i.e., contract or deed) to real estate property to secure the payment of a debt. The creditor has actual title to the property, but the property remains with the use and occupancy of the borrower as long as the conditions of the mortgage are met.

O = Open Account - Accounts where the entire balance is due upon demand or that have one payment due as scheduled (i.e., Terms Duration = 001). This Portfolio Type is used by credit card reporters when there is no credit limit and the full balance amount is due each month (i.e., no revolving terms). This Portfolio Type is also used by Collection Agencies, Child Support Agencies, Debt Purchasers, Student Loan Guarantors, the U.S. Department of Education (as guarantor) and Utility Services' payment plans.  

R = Revolving - An account that establishes a maximum credit limit for a consumer, such as a credit card or charge account. Payment amounts are revolving, based on the outstanding balance amount.