We need custom font filters / tags / folders
We have Favorites in Font Family drop-down list, but that's not enough. Allow us to create our own custom filters / tags / folders and manage them.

Beta 30.0.0.21 introduces Font Libraries ('collections'). These are synced with your CC Libraries, but you can create these directly from the font browser. Share, rename, filter and customize these to better access your fonts, local or added ones.
Please try it and share you impressions — this means a lot for the team and will help to guide the development further.
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Shanda Boren commented
I own a design company and also work for a UPS store part time and have hundreds of downloaded fonts on the computers I use. I'd love to be able to easily sort my fonts into categories (at least serif, sans serif) so I can navigate through them faster.
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Anonymous commented
User should be able to create their own custom font groups, which can be hidden, rearranged by drag & drop similar to layers.
For Example; User Category 1 - Contains Font 1, Font 2, Font 3...
User Category 2 - Contains Font 4, Font 5, Font 6...