Mortgage Investments Posts 7% Income Drop in Quarter

Mortgage Investments Plus said its net income in the third quarter that ended Aug. 30 fell 7% to $1.2 million, or 14 cents a share, compared to $1.3 million, or 15 cents a share, in the same period a year earlier.

The Woodland Hills company is a real estate investment trust advised by Weyerhaeuser Mortgage Co.

For the nine months that ended Aug. 30, net income fell 27% to $3 million, or 34 cents a share, compared to $4.2 million, or 46 cents a share, a year earlier.