Midsized real estate investment trusts specializing in the subprime market told mixed earnings stories during the first part of 2005, a new Inside B&C Lending analysis of company earning reports reveals. Saxon Capital Corp., for instance, reported $31.7 million in first-quarter net income, up from $30.1 million in the fourth quarter of 2004 and $19.7 million in last year’s first quarter. The earnings increase was fueled in part by a rise in net interest