First Mortgage Corp., Diamond Bar, Calif., has reported net income of $1.16 million ($0.20 per share) for its fiscal first quarter ended June 30, up 338% from $264,000 ($0.05 per share) a year earlier.Loan originations totaled $223.1 million for the quarter, up 157% from $86.8 million a year earlier, the company said. Loan servicing income rose 3.7% to $1.92 million. As of June 30, First Mortgage serviced $1.66 billion in loans, down from $1.70 billion a year earlier. The company attributed the decline to increased prepayments.
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