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Servicing Rights (Tables)
 6 Months Ended
Jun. 30, 2020
Transfers and Servicing [Abstract]  
Schedule of Servicing Assets at Fair Value The following table details the activity in the Company's mortgage servicing rights ("MSR") for the three and six-month periods ended June 30, 2020 and 2019:
 
Three Months Ended June 30,
Six Months Ended June 30,
(In Thousands)
2020
2019
2020
2019
 
 
 
 
 
Balance, beginning of period

$11,653


$11,254


$11,920


$10,821

Additions for new MSR capitalized
996

532

1,659

1,639

Changes in fair value:
 
 
 
 
  Due to changes in model inputs of assumptions (1)
(891
)
(630
)
(1,592
)
(1,007
)
  Other (2)
(1,037
)
(320
)
(1,266
)
(617
)
Balance, end of period

$10,721


$10,836


$10,721


$10,836


(1) Principally reflects changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates.
(2) Represents changes due to collection/realization of expected cash flows over time.

The following table details information related to our serviced mortgage loan portfolio as of June 30, 2020 and December 31, 2019:

(In Thousands)
June 30, 2020
December 31, 2019
 
 
 
Balance of mortgage loans serviced for others

$655,183


$659,048

MSR as a percentage of serviced loans
1.64
%
1.81
%

The following table outlines the weighted average key assumptions used in measuring the fair value of MSR as of June 30, 2020 and December 31, 2019:

 
2020
2019
 
 
 
Constant prepayment rate
14.30
%
10.61
%
Discount rate
7.75
%
8.52
%
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets
Key economic assumptions and the sensitivity of the current fair value for MSR to immediate adverse changes in those assumptions at June 30, 2020 and December 31, 2019 were as follows:

(In Thousands)
 
June 30, 2020
December 31, 2019
Aggregate portfolio principal balance
 

$655,183


$659,048

Weighted average rate of note
 
3.80
%
3.90
%
 
 
 
 
June 30, 2020
Base
1.0% Adverse Rate Change
2.0% Adverse Rate Change
Constant prepayment rate
14.30
%
40.94
%
50.36
%
Discount rate
7.75
%
6.75
%
5.75
%
Fair value MSR

$10,721


$4,304


$3,376

Percentage of MSR
1.64
%
0.66
%
0.52
%
 
 
 
 
December 31, 2019
 
 
 
Constant prepayment rate
10.61
%
26.25
%
28.39
%
Discount rate
8.52
%
7.52
%
6.52
%
Fair value MSR

$11,920


$7,005


$6,625

Percentage of MSR
1.81
%
1.06
%
1.01
%