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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
Class Face Value Distribution Through (Including Turbo) Forward
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A-1 53,220,000.00 14,202,678.94 6.34% 8,603,924.42 0.00
A-2 103,860,000.00 103,860,000.00 6.31% 0.00 0.00
A-3 84,010,000.00 84,010,000.00 6.52% 0.00 0.00
A-4 80,400,000.00 80,400,000.00 6.64% 0.00 0.00
A-5 64,750,000.00 64,750,000.00 6.82% 0.00 0.00
A-6 46,400,000.00 46,400,000.00 6.88% 0.00 0.00
A-7 54,900,000.00 54,900,000.00 7.54% 0.00 0.00
A-8 49,230,000.00 49,230,000.00 7.58% 0.00 0.00
A-9 46,355,000.00 46,355,000.00 7.82% 0.00 0.00
M-1 78,750,000.00 78,750,000.00 7.60% 0.00 0.00
M-2 39,375,000.00 39,375,000.00 7.59% 0.00 0.00
B-1 31,875,000.00 31,875,000.00 7.93% 0.00 0.00
B-2(Certificates) 16,875,000.00 16,875,000.00 8.54% 0.00 0.00
R 0.00 17,087,061.26 0.00
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Totals 750,000,000.00 728,069,740.20 8,603,924.42
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Interest
Class Interest Carry Total Over Allocated Ending Pool
Remittance Forward Distribution Collateral. Losses Balance Factor
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A-1 75,037.49 0.00 8,678,961.91 0.00 0.00 5,598,754.52 10.520020%
A-2 546,130.50 0.00 546,130.50 0.00 0.00 103,860,000.00 100.000000%
A-3 456,454.33 0.00 456,454.33 0.00 0.00 84,010,000.00 100.000000%
A-4 444,880.00 0.00 444,880.00 0.00 0.00 80,400,000.00 100.000000%
A-5 367,995.83 0.00 367,995.83 0.00 0.00 64,750,000.00 100.000000%
A-6 266,026.67 0.00 266,026.67 0.00 0.00 46,400,000.00 100.000000%
A-7 344,955.00 0.00 344,955.00 0.00 0.00 54,900,000.00 100.000000%
A-8 310,969.50 0.00 310,969.50 0.00 0.00 49,230,000.00 100.000000%
A-9 302,080.08 0.00 302,080.08 0.00 0.00 46,355,000.00 100.000000%
M-1 498,750.00 0.00 498,750.00 0.00 0.00 78,750,000.00 100.000000%
M-2 249,046.88 0.00 249,046.88 0.00 0.00 39,375,000.00 100.000000%
B-1 210,640.63 0.00 210,640.63 0.00 0.00 31,875,000.00 100.000000%
B-2(Certificates) 120,093.75 0.00 120,093.75 0.00 0.00 16,875,000.00 100.000000%
R 0.00 0.00 0.00 2,912,718.14 547,694.57 19,452,084.83 0.000000%
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Totals 4,193,060.66 12,796,985.08 721,830,839.35
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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-1 266.867323 161.667126 1.409949 163.077075 105.200198
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 = 7.09%
Determination Date December 5, 1997
Distribution Date December 10, 1997
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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 6,729,348.28 1,193,597.74 7,922,946.02
Recovery of Delinquent Scheduled Payments 133,673.01 68,931.48 202,604.49
Principal Prepayments 656,738.00 4,428,677.06 5,085,415.06
Foreclosure Collections 0.00 0.00 0.00
Prefunding Account Deposit 0.00 0.00 0.00
Collection Account Earnings 30,290.30 0.00 30,290.30
Available Collection Amount 7,550,049.59 5,691,206.28 13,241,255.87
FEES:
Servicing Fee 455,043.59
Trustee Fee 1,516.81
Owner Trustee Fee 0.00
Total Fees: 456,560.40
OVERCOLLATERALIZATION INFORMATION*:
Original Overcollateralization Amount 0.00
Current Overcollateralization Amount 19,452,084.83
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 225
Beginning Weighted Average Coupon 13.740%
Ending Weighted Average Coupon 13.730%
Beginning Number of Loans 23,820
Ending Number of Loans 23,639
Beginning Unpaid Principle Balance of Home Loans 728,069,740.20
Ending Unpaid Principle Balance of Home Loans 721,830,839.35
Loans Paid in Full 181
DELINQUENCIES:
# $ % of $
--- --- ------
30-59 Days 173 5,019,825.00 0.6895%
60-89 Days 73 2,099,621.00 0.2884%
Over 90 135 4,096,499.00 0.5627%
Total 381 11,215,945.00 1.5405%
LIQUIDATED LOANS:
Principal Interest
Liquidation Proceeds 0.00 0.00
Write-Offs 547694.57 0.00
Net Losses 547,694.57 0.00
* Assumes entire prefunded account is used to purchase home loans
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