First Mortgage Corp. reported $651,000 of net income for quarter that ended March 31, 157% more than a year earlier.

Revenues were up 32%, to $7.83 million.

The quarter was the fourth of First Mortgage's fiscal year, in which loan closings rose 81.7%, to $866.64 million, the company said. Servicing fees, late charges, and other fees increased 1.7% in the fiscal year, to $7.76 million.

First Mortgage also announced that it plans to introduce Web sites in the coming weeks that will enable customers to apply for loans on the Internet.

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