1
FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (SELLER)
FIRSTPLUS HOME LOAN OWNER TRUST 1997-2 (ISSUER)
THE FIRSTPLUS ASSET-BACKED NOTES AND CERTIFICATES SERIES 1997-2
AGREEMENT DATED June 1, 1997
SERVICER'S MONTHLY REMITTANCE REPORT
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Principal Current Principal Principal
Original Balance Before Pass Remittance Carry Interest
Class Face Value Distribution Through (Including Turbo) Forward Remittance
- -----------------------------------------------------------------------------------------------------------------------
A-1 53,220,000.00 23,780,795.97 6.34% 9,578,117.03 0.00 125,641.87
A-2 103,860,000.00 103,860,000.00 6.31% 0.00 0.00 546,130.50
A-3 84,010,000.00 84,010,000.00 6.52% 0.00 0.00 456,454.33
A-4 80,400,000.00 80,400,000.00 6.64% 0.00 0.00 444,880.00
A-5 64,750,000.00 64,750,000.00 6.82% 0.00 0.00 367,995.83
A-6 46,400,000.00 46,400,000.00 6.88% 0.00 0.00 266,026.67
A-7 54,900,000.00 54,900,000.00 7.54% 0.00 0.00 344,955.00
A-8 49,230,000.00 49,230,000.00 7.58% 0.00 0.00 310,969.50
A-9 46,355,000.00 46,355,000.00 7.82% 0.00 0.00 302,080.08
M-1 78,750,000.00 78,750,000.00 7.60% 0.00 0.00 498,750.00
M-2 39,375,000.00 39,375,000.00 7.59% 0.00 0.00 249,046.88
B-1 31,875,000.00 31,875,000.00 7.93% 0.00 0.00 210,640.63
B-2(Certificates) 16,875,000.00 16,875,000.00 8.54% 0.00 0.00 120,093.75
R 0.00 13,293,481.42 0.00 0.00 0.00 0.00
Totals 750,000,000.00 733,854,277.39 9,578,117.03 4,423,665.04
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Interest
Carry Total Over Allocated Ending Pool
Class Forward Distribution Collateral Losses Balance Factor
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A-1 0.00 9,703,758.90 0.00 0.00 14,202,678.94 26.686732%
A-2 0.00 546,130.50 0.00 0.00 103,860,000.00 100.000000%
A-3 0.00 456,454.33 0.00 0.00 84,010,000.00 100.000000%
A-4 0.00 444,880.00 0.00 0.00 80,400,000.00 100.000000%
A-5 0.00 367,995.83 0.00 0.00 64,750,000.00 100.000000%
A-6 0.00 266,026.67 0.00 0.00 46,400,000.00 100.000000%
A-7 0.00 344,955.00 0.00 0.00 54,900,000.00 100.000000%
A-8 0.00 310,969.50 0.00 0.00 49,230,000.00 100.000000%
A-9 0.00 302,080.08 0.00 0.00 46,355,000.00 100.000000%
M-1 0.00 498,750.00 0.00 0.00 78,750,000.00 100.000000%
M-2 0.00 249,046.88 0.00 0.00 39,375,000.00 100.000000%
B-1 0.00 210,640.63 0.00 0.00 31,875,000.00 100.000000%
B-2(Certificates) 0.00 120,093.75 0.00 0.00 16,875,000.00 100.000000%
R 0.00 3,793,579.84 0.00 17,087,061.26
Totals 13,821,782.07 728,069,740.20
AMOUNTS PER 1,000 Principal
Balance Before Principal Interest Total End
CLASS CUSIP Distribution Remittance Remittance Distribution Balance
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A-1 446.839458 179.972135 2.360802 182.332937 266.867323
A-2 1000.000000 0.000000 5.258333 5.258333 1000.000000
A-3 1000.000000 0.000000 5.433333 5.433333 1000.000000
A-4 1000.000000 0.000000 5.533333 5.533333 1000.000000
A-5 1000.000000 0.000000 5.683333 5.683333 1000.000000
A-6 1000.000000 0.000000 5.733333 5.733333 1000.000000
A-7 1000.000000 0.000000 6.283333 6.283333 1000.000000
A-8 1000.000000 0.000000 6.316667 6.316667 1000.000000
A-9 1000.000000 0.000000 6.516667 6.516667 1000.000000
M-1 1000.000000 0.000000 6.333333 6.333333 1000.000000
M-2 1000.000000 0.000000 6.325000 6.325000 1000.000000
B-1 1000.000000 0.000000 6.608333 6.608333 1000.000000
B-2(Certificates) 1000.000000 0.000000 7.116667 7.116667 1000.000000
Original weighted average securities rate = 7.04%
Current weighted average securities rate = 7.08%
Determination Date November 5, 1997
Distribution Date November 10, 1997
2
FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (SELLER)
FIRSTPLUS HOME LOAN OWNER TRUST 1997-2 (ISSUER)
THE FIRSTPLUS ASSET-BACKED NOTES AND CERTIFICATES SERIES 1997-2
AGREEMENT DATED June 1, 1997
SERVICER'S MONTHLY REMITTANCE REPORT
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COLLECTIONS ON THE MORTGAGE LOANS:
Interest Principal Total
------------ ------------ ------------
Scheduled Monthly Payments 7,574,703.17 1,415,499.13 8,990,202.30
Recovery of Delinquent Scheduled Payments 78,906.94 28,217.97 107,124.91
Principal Prepayments 823,356.95 4,340,820.09 5,164,177.04
Foreclosure Collections 0.00 0.00 0.00
Prefunding Account Deposit 0.00 0.00 0.00
Available Collection Amount 8,476,967.06 5,784,537.19 14,261,504.25
FEES:
Servicing Fee 458,658.92
Trustee Fee 1,528.86
Owner Trustee Fee 0.00
Total Fees: 460,187.78
OVERCOLLATERALIZATION INFORMATION*:
Original Overcollateralization Amount 0.00
Current Overcollateralization Amount 17,087,061.26
Required Overcollateralization Amount 31,875,000.00
AMOUNT IN PREFUNDING ACCOUNT: 0.00
CAPITALIZED INTEREST ACCOUNT INFORMATION:
Amount Remaining in Capitalized Interest Account 0.00
Amount to be Disbursed from Capitalized Interest Account to Note Distribution Account 0.00
COLLATERAL INFORMATION:
Beginning Weighted Average Remaining Maturity 226
Ending Weighted Average Remaining Maturity 226
Beginning Weighted Average Coupon 13.740%
Ending Weighted Average Coupon 13.740%
Beginning Number of Loans 23,990
Ending Number of Loans 23,820
Beginning Unpaid Principle Balance of Home Loans 733,854,277.39
Ending Unpaid Principle Balance of Home Loans 728,069,740.20
Loans Paid in Full 170
DELINQUENCIES:
# $ % of $
--- ------------ ------
30-59 Days 141 3,970,625.00 0.5411%
60-89 Days 67 2,024,730.00 0.2759%
Over 90 98 3,005,625.00 0.4096%
Total 306 9,000,980.00 1.2265%
LIQUIDATED LOANS:
Principal Interest
Liquidation Proceeds 0.00 0.00
Write-Offs 0.00 0.00
Net Losses 0.00 0.00
* Assumes entire prefunded account is used to purchase home loans
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CAPITALIZED INTEREST:
Beginning balance: 0.00
Capitalized interest acct requirement (projected interest shortfall) 0.00
Less amount to be released to residual interest 0.00
Holder on July 10 pursuant to section 5.03(d)
Less amount to be distributed to note payment account 0.00
Account on July 6 required by section 5.03(a)
Plus Account earnings posted in due period 0.00
Prefunding account earnings posted in due period 0.00
Ending balance on distribution date 0.00
4
BACKUP CALCULATIONS:
DEPOSIT TO NOTE PAYMENT ACCOUNT*:
Available Collection Amount 14,261,504.25
Cap Interest Release pursuant to Section 5.03 A 0.00
Remaining Prefunding Balance after end of funding period 0.00
Note Payment Account Earnings 20,465.60
Total Deposits 14,281,969.85
Note Payment Account balance 14,281,969.85
* Collection Account earnings paid to servicer as apart of
Servicing Compensation were
WITHDRAWS FROM NOTE PAYMENT ACCOUNT:
To retain in the note payment account or deposit into the
certificate distribution account for payment on the payment
date as applicable pursuant to section 5.01 (c) paragraphs
Remaining Balance
-----------------
Servicing Fee 458,658.92 13,823,310.93
Indenture Trustee Fee 1,528.86 13,821,782.07
Owner Trustee Fee 0.00 13,821,782.07
Senior Noteholders Interest Payment Amount 3,165,133.78 10,656,648.29
Class M-1 Noteholders Interest Payment Amount 498,750.00 10,157,898.29
Class M-2 Noteholders Interest Payment Amount 249,046.88 9,908,851.41
Class B-1 Noteholders Interest Payment Amount 210,640.63 9,698,210.78
Class B-2 Certificateholders Distributable Amount 120,093.75 9,578,117.03
Senior Note Regular Prinicipal Payment Amount 5,784,537.19 3,793,579.84
Class M-1 Regular Prinicipal Payment Amount 0.00 3,793,579.84
Class M-2 Regular Prinicipal Payment Amount 0.00 3,793,579.84
Class B-1 Regular Prinicipal Payment Amount 0.00 3,793,579.84
Class B-2 Certificateholders Regular Prinicipal Distributable Amount 0.00 3,793,579.84
Class M-1 Deffered Amount 0.00 3,793,579.84
Class M-2 Deffered Amount 0.00 3,793,579.84
Class B-1 Deffered Amount 0.00 3,793,579.84
Class B-2 Certificateholders Loss Reimbursement Deficiency Amount 0.00 3,793,579.84
Servicing Advance Reimbursement Amount 0.00 3,793,579.84
Overcollateralization Deficency amount to Senior Note Holder 3,793,579.84 0.00
Overcollateralization Deficency amount to Class M-1 Notes 0.00 0.00
Overcollateralization Deficency amount to Class M-2 Notes 0.00 0.00
Overcollateralization Deficency amount to Class B-1 Notes 0.00 0.00
Overcollateralization Deficency amount to Class B-2 Certificates 0.00 0.00
Remaining Amount to Certificate Account for payment to Class R 0.00 0.00
on the payment Date