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EXHIBIT 99.2
FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (SELLER)
FIRSTPLUS HOME LOAN TRUST 1996-3 (ISSUER)
THE FIRSTPLUS ASSET-BACKED CERTIFICATES SERIES 1996-3
AGREEMENT DATED SEPTEMBER 27, 1996
SERVICER'S MONTHLY REMITTANCE REPORT
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PRINCIPAL CURRENT PRINCIPAL PRINCIPAL INTEREST
ORIGINAL BALANCE BEFORE PASS REMITTANCE CARRY INTEREST CARRY
CLASS FACE VALUE DISTRIBUTION THROUGH (INCLUDING TURBO) FORWARD REMITTANCE FORWARD
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A-1 65,000,000.00 61,600,484.12 6.75% 2,228,358.86 0.00 346,502.72 0.00
A-2 49,000,000.00 49,000,000.00 6.85% 0.00 0.00 279,708.33 0.00
A-3 22,000,000.00 22,000,000.00 7.05% 0.00 0.00 129,250.00 0.00
A-4 32,000,000.00 32,000,000.00 7.20% 0.00 0.00 192,000.00 0.00
A-5 20,000,000.00 20,000,000.00 7.25% 0.00 0.00 120,833.33 0.00
A-6 47,000,000.00 47,000,000.00 7.60% 0.00 0.00 297,666.67 0.00
A-7 29,000,000.00 29,000,000.00 7.80% 0.00 0.00 188,500.00 0.00
A-8 24,750,000.00 24,750,000.00 8.00% 0.00 0.00 165,000.00 0.00
CERTIFICATES 11,250,000.00 11,250,000.00 8.30% 0.00 0.00 77,812.50 0.00
R 0.00 2,277,217.71 0.00% 0.00 0.00 0.00 0.00
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Totals 300,000,000.00 298,877,701.83 2,228,358.86 1,797,273.55
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TOTAL OVER ALLOCATED ENDING POOL
CLASS DISTRIBUTION COLLATERAL LOSSES BALANCE FACTOR
(FROM TURBO)
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A-1 2,574,861.58 0.00 0.00 59,372,125.26 91.341731%
A-2 279,708.33 0.00 0.00 49,000,000.00 100.000000%
A-3 129,250.00 0.00 0.00 22,000,000.00 100.000000%
A-4 192,000.00 0.00 0.00 32,000,000.00 100.000000%
A-5 120,833.33 0.00 0.00 20,000,000.00 100.000000%
A-6 297,666.67 0.00 0.00 47,000,000.00 100.000000%
A-7 188,500.00 0.00 0.00 29,000,000.00 100.000000%
A-8 165,000.00 0.00 0.00 24,750,000.00 100.000000%
CERTIFICATES 77,812.50 0.00 0.00 11,250,000.00 100.000000%
R 0.00 1,507,423.85 0.00 3,784,641.56 0.000000%
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Totals 4,025,632.41 298,156,766.82
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AMOUNTS PER 1,000 PRINCIPAL
BALANCE BEFORE PRINCIPAL INTEREST TOTAL END
CLASS CUSIP DISTRIBUTION REMITTANCE REMITTANCE DISTRIBUTION BALANCE
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A-1 337928AA3 947.699756 34.282444 5.330811 39,613255 913.417312
A-2 337928AB1 1000.000000 0.000000 5.708333 5.708333 1000.000000
A-3 337928AC9 1000.000000 0.000000 5.875000 5.875000 1000.000000
A-4 337928AD7 1000.000000 0.000000 6.000000 6.000000 1000.000000
A-5 337928AE5 1000.000000 0.000000 6.041667 6.041667 1000.000000
A-6 337928AF2 1000.000000 0.000000 6.333333 6.333333 1000.000000
A-7 337928AG0 1000.000000 0.000000 6.500000 6.500000 1000.000000
A-8 337928AJ4 1000.000000 0.000000 6.666667 6.666667 1000.000000
CERTIFICATES n/a 1000.000000 0.000000 6.916667 6.916667 1000.000000
Determination Date December 13, 1996
Distribution Date December 20, 1996
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FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (SELLER)
FIRSTPLUS HOME LOAN OWNER TRUST 1996-3(ISSUER)
THE FIRSTPLUS ASSET-BACKED NOTES AND CERTIFICATES SERIES 1996-3
AGREEMENT DATED SEPTEMBER 27, 1996
SERVICER'S MONTHLY REMITTANCE REPORT
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Available Collection Amount 4,257,751.00
COLLECTIONS ON THE MORTGAGE LOANS:
Interest Principal Total
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Scheduled Monthly Payments 2,687,278.85 263,176.52 2,950,455.37
Recovery of Delinquent Scheduled Payments 501,103.72 56,026.24 557,129.96
Principal Prepayments 276,989.43 401,732.25 678,721.68
Repurchases 0.00 0.00 0.00
FHA Claims 0.00 0.00 0.00
Foreclosure Collections 0.00 0.00 0.00
Total Collections on Mortgage Loans 3,465,372.00 720,935.01 4,186,307.01
Collection Account Earnings 15,290.56 15,290.56
Note Distribution Account Earnings 5.83 5.83
Capitalized Interest Release 56,147.60 56,147.60
Available Collection Amount 3,536,815.99 720,935.01 4,257,751.00
FEES:
Servicing Fee 158,931.55
Trustee Fee 1,589.32
Custodian Fee 2,542.90
Certificate Guaranty Insurance 69,054.82
Owner Trustee Fee 0.00
Total Fees: 232,118.59
OVERCOLLATERALIZATION INFORMATION:
Current Overcollateralization Amount 3,784,641.56
Interim Required Overcollaterlization Amount 15,000,000.00
Required Overcollaterlization Amount for Due Period 26,250,000.00
Current Credit Support Multiple 1.00
Is Due Period a Step Down Date No
RESERVE ACCOUNT INFORMATION
Original Reserve Account Deposit 11,250,000.00
Current Reserve Account Balance 11,250,000.00
Reserve Account Requirement 11,250,000.00
AMOUNT IN PREFUNDING ACCOUNT: 185,602.86
CAPITALIZED INTEREST ACCOUNT INFORMATION:
Amount Remaining in Capitalized Interest Account 663.37
Amount to be Disbursed from Capitalized Interest Account to Note Distrubution Account 56,147.60
COLLATERAL INFORMATION:
Beg. Weighted Avg. Rem. Maturity 229
End. Weighted Avg. Rem. Maturity 228
Beg. Weighted Average Coupon 14.608%
End. Weighted Average Coupon 14.610%
Beg. Number of Loans 8,708
End. Number of Loans 10,229
Beginning Unpaid Principle Balance of Home Loans 254,290,477.22
Loans Funded in Current Period 44,401,621.75
Remaining Unpaid Principle Balance of Home Loans 297,971,163.96
Loans Paid in Full 13
DELINQUENCIES:
# $ % of $
30-59 Days 42 1,168,640.00 0.3922%
60-89 Days 6 172,834.00 0.0580%
Over 90 1 25,000.00 0.0084%
Total 49 1,366,474.00 0.4586%
LIQUIDATED LOANS:
Principle Interest Total
Liquidation Proceeds 0.00 0.00 0.00
Write-Offs/Net Losses 0.00 0.00 0.00
0.00
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BACKUP CALCULATIONS:
DEPOSIT TO NOTE DISTRIBUTION ACCOUNT:
Available Collection Amount 4,257,751.00
Guaranteed Payment 0.00
Reserve Account Withdraws 0.00
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Note Distribution Account balance 4,257,751.00
WITHDRAWS FROM NOTE DISTRIBUTION ACCOUNT:
To The Note Distribution Account for Disbursement
on Distribution Date Pursuant to Sections
5.01(c) paragraphs (i) to (iv)
Remaining Balance
Servicing Fee 158,931.55 4,098,819.45
Guaranty Insurance Premium 69,054.82 4,029,764.63
Indenture Trustee Fee 1,589.32 4,028,175.31
Owner Trustee Fee 0.00 4,028,175.31
Custodial Fee 2,542.90 4,025,632,41
Noteholders Interest Distributable Amount 1,719,461.05 2,306,171.36
Regular Principal Distributable Amount 720,935.01 1,585,236.35
Excess Spread to Class A-1 note as a part of 1,507,423.85 77,812.50
the Noteholders Monthly Principal distributable
Amount
To the Certificate Distribution Account for Disbursement
pursuant to section 5.06 on the distribution date.
Certificateholder Interest Distributable Amount 77,812.50 0.00
Certificateholder Principal Distributable Amount 0.00 0.00
Securities Insurer Reimbursement Amount 0.00 0.00
OverCollateralization Reduction Amount 0.00 0.00
Reimbursed Servicing Advances 0.00 0.00
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RESERVE ACCOUNT:
Beginning Balance 11,250,000.00
Current Deposits 0.00
Current Earnings 16,081.11
Withdraw of Excess Reserve Account Amount to 16,081.11
Residual Holder
Ending Balance 11,250,000.00
CAPITALIZED INTEREST:
Beginning Balance: 101,527.19
Cap Interest Acct Required (Projected Interest Shortfall) 663.37
Less Amount to be released to Residual Interest 90,033.42
Holder on Oct. 21 pursuant to Section 5.04(d)
Less Amount to be Distributed to Note Distribution 56,147.60
Account on Oct. 16 Required by Section 5.04(a)
Plus Account Earnings Posted in Due Period 2,282.05
Prefunding Account Earnings posted in 43,035.15
Due Period
Ending Balance on Distribution Date 663.37
PREFUNDING ACCOUNT:
Beginning Balance 44,587,224.61
Less Draw for First funding 44,401,621.75
Less Amount to be Distributed to Note Distribution 0.00
Account Required by Section 5.03(c)
Less Amount to be Distributed to Certificate Distribution 0.00
Account Required by Section 5.03(c)
Ending Balance 185,602.86