Form N-CSR / A FIRST TRUST MORTGAGE For: October 31


News and research before hearing about it on CNBC et al. Request your free week-long trial at StreetInsider Premium here.


UNITED STATES
SECURITY AND EXCHANGES COMMITTEE
Washington, D.C. 20549

FORM N-CSR / A

REPORT OF REGISTERED SHAREHOLDERS
MANAGEMENT INVESTMENT COMPANIES

File number of the Law on Investment Companies 811-21727

First Trust Mortgage Income Fund
(Exact name of the holder as specified in the charter)

120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Address of main executive offices) (Postal code)

W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Name and address of agent for service)

the holder’s telephone number,
including the area code: 630-765-8000

Year-end date: October 31

Date of reporting period: October
31, 2019

The N-CSR form must be used by management
investment companies must file reports with the Commission no later than 10 days after the transmission to shareholders of any report
which is to be transmitted to shareholders under rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).
The Commission may use the information provided on the N-CSR form in its regulatory, disclosure review, inspection and policy development activities
roles.

A registrant is required to disclose
the information specified by the N-CSR form, and the Commission will make this information public. A registrant is not required to
respond to the collection of information contained in the N-CSR form, unless the form displays a currently valid management office
and the budget control number (“OMB”). Please send your comments regarding the accuracy of the information collection charge
estimate and any suggestions for reducing the secretary’s burden, Securities and Exchange Commission, 100 F Street, NE, Washington,
CD 20549. The OMB reviewed this collection of information in accordance with the licensing requirements of 44 U.S.C. § 3507.

______________________________________________________________________________

Explicative note

The holder files this modification
to its N-CSR form for the period ended October 31, 2019, initially filed with the Securities and Exchange Commission in January
2, 2020 (acquisition number 0001445546-20-000002), to modify point 8 a) 2), “Fixed investment managers”
Companies – Other accounts managed by portfolio managers or members of the management team and potential conflicts of interest. ”
The only purpose of this modification is to modify the information in the table under the “Total assets” column for Jérémie.
Charles and James Snyder. Except as noted above, this amendment does not modify, update or change any other element or disclosure
found in the original Form N-CSR.

______________________________________________________________________________

(2) Other accounts managed by portfolio managers or members of the management team and potentials
Conflicts of interest

Information provided to the October 31, 2019.

Name of the portfolio manager or team member Type of accounts *

Total

Number of managed accounts

Total assets Number of managed accounts for which consultancy fees are based on performance Total assets for which consultancy fees are based on performance
1. Jeremiah Charles Registered investment companies: 5 $ 4,578,114,247 0 $ 0
Other grouped investment vehicles: 0 $ 0 0 $ 0
Other accounts: 0 $ 0 0 $ 0
2. James Snyder Registered investment companies: 5 $ 4,578,114,247 0 $ 0
Other grouped investment vehicles: 0 $ 0 0 $ 0
Other accounts: 0 $ 0 0 $ 0

Portfolio Manager Conflicts of important interests

Potential
conflicts of interest may arise when a registrant’s portfolio manager has day-to-day management responsibilities
to one or more other funds or other accounts. The First Trust
Group of securitized products adheres
to its policy of allocating exchanges using a pro rata methodology to resolve this conflict.

First Trust and
its subsidiary, First Trust Portfolios L.P. (“FTP”), has implemented a code of ethics and policies on joint insider dealing
and procedures designed to (a) prevent First Trust staff from trading in securities based on material inside information
in the possession of such personnel and (b) ensuring that First Trust personnel avoid actual or potential conflicts of interest, or
abuse of their positions of trust and responsibility that could occur through activities such as leading securities transactions
for the holder. Staff must have duplicate confirmations and account statements delivered to First Trust and
FTP compliance staff who then compare these transactions to trading activities to detect any potential conflict situations.

SIGNATURES

In accordance with the requirements of the titles
Exchange Act of 1934 and Investment Company Act of 1940, the holder duly signed this report on his behalf
by the undersigned, to this duly authorized.

(registered) First Trust Mortgage Income Fund

By (signature and title) * / s /
James M. Dykas
James M. Dykas, President and Chief Executive Officer
(General manager)

In accordance with the requirements of the titles
Exchange Act of 1934 and Investment Company Act of 1940, this report has been signed below by the following persons on behalf
of the declarant and in the capacities and on the dates indicated.

By (signature and title) * / s /
James M. Dykas
James M. Dykas, President and Chief Executive Officer
(General manager)

By (signature and title) * / s /
Donald P. Swade
Donald P. Swade, Treasurer, CFO
and chief accounting officer
(financial director)

* Enter the name and title of each authorized signatory under
his signature.

Leave a Reply

Your email address will not be published. Required fields are marked *