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Servicing Rights (Tables)
 9 Months Ended
Sep. 30, 2019
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 nine-month periods ended September 30, 2019 and 2018:
 
Three Months Ended September 30,
Nine Months Ended September 30,
(In Thousands)
2019
2018
2019
2018
 
 
 
 
 
Balance, beginning of period

$10,836


$8,733


$10,821


$7,305

Additions for new MSR capitalized
1,033

1,090

2,672

2,662

Changes in fair value:
 
 
 
 
  Due to changes in model inputs of assumptions (1)
(378
)
125

(1,385
)
490

  Other (2)
(285
)
(253
)
(902
)
(762
)
Balance, end of period

$11,206


$9,695


$11,206


$9,695


(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 September 30, 2019 and December 31, 2018:

(In Thousands)
September 30, 2019
December 31, 2018
 
 
 
Balance of mortgage loans serviced for others

$634,059


$557,583

MSR as a percentage of serviced loans
1.77
%
1.94
%
The following table outlines the key assumptions used in measuring the fair value of MSR as of September 30, 2019 and December 31, 2018:

 
2019
2018
 
 
 
Constant prepayment rate
11.51
%
7.70
%
Discount rate
8.58
%
9.94
%
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 September 30, 2019 and December 31, 2018 were as follows:

(In Thousands)
 
September 30, 2019
December 31, 2018
Aggregate portfolio principal balance
 

$634,059


$557,583

Weighted average rate of note
 
3.94
%
3.91
%
 
 
 
 
September 30, 2019
Base
1.0% Adverse Rate Change
2.0% Adverse Rate Change
Constant prepayment rate
11.51
%
28.16
%
30.31
%
Discount rate
8.58
%
7.58
%
6.58
%
Fair value MSR

$11,206


$6,626


$6,308

Percentage of MSR
1.77
%
1.05
%
0.99
%
 
 
 
 
December 31, 2018
 
 
 
Constant prepayment rate
7.70
%
19.35
%
20.95
%
Discount rate
9.94
%
8.94
%
7.94
%
Fair value MSR

$10,821


$7,115


$6,829

Percentage of MSR
1.94
%
1.28
%
1.22
%