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EXHIBIT 99.1
FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (SELLER)
FIRSTPLUS HOME LOAN OWNER TRUST 1997-1 (ISSUER)
THE FIRSTPLUS ASSET-BACKED NOTES AND CERTIFICATES SERIES 1997-1
AGREEMENT DATED FEBRUARY 27, 1997
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-1 139,980,000.00 114,939,314.27 6.05% 7,433,519.01 0.00 579,485.71 0.00
A-2 64,680,000.00 64,680,000.00 6.28% 0.00 0.00 338,492.00 0.00
A-3 65,160,000.00 65,160,000.00 6.45% 0.00 0.00 350,235.00 0.00
A-4 49,750,000.00 49,750,000.00 6.60% 0.00 0.00 273,625.00 0.00
A-5 49,170,000.00 49,170,000.00 6.70% 0.00 0.00 274,532.50 0.00
A-6 93,110,000.00 93,110,000.00 6.95% 0.00 0.00 539,262.08 0.00
A-7 61,330,000.00 61,330,000.00 7.16% 0.00 0.00 365,935.67 0.00
A-8 37,570,000.00 37,570,000.00 7.33% 0.00 0.00 229,490.08 0.00
Certificates 39,250,000.00 39,250,000.00 7.64% 0.00 0.00 249,891.67 0.00
R 0.00 14,319,903.14 0.00 0.00 0.00 0.00
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Totals 600,000,000.00 589,279,217.41 7,433,519.01 3,200,949.71
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Total Over Allocated Ending Pool
Class Distribution Collateral. Losses Balance Factor
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A-1 8,013,004.72 0.00 0.00 107,505,795.26 76.800825%
A-2 338,492.00 0.00 0.00 64,680,000.00 100.000000%
A-3 350,235.00 0.00 0.00 65,160,000.00 100.000000%
A-4 273,625.00 0.00 0.00 49,750,000.00 100.000000%
A-5 274,532.50 0.00 0.00 49,170,000.00 100.000000%
A-6 539,262.08 0.00 0.00 93,110,000.00 100.000000%
A-7 365,935.67 0.00 0.00 61,330,000.00 100.000000%
A-8 229,490.08 0.00 0.00 37,570,000.00 100.000000%
Certificates 249,891.67 0.00 0.00 39,250,000.00 100.000000%
R 0.00 3,238,720.75 401,660.21 17,156,963.68 0.000000%
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Totals 10,634,468.72 584,682,758.94
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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 ▇▇▇▇▇▇▇▇▇ 821.112404 53.104151 4.139775 57.243926 768.008253
A-2 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 5.233333 5.233333 1000.000000
A-3 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 5.375000 5.375000 1000.000000
A-4 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 5.500000 5.500000 1000.000000
A-5 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 5.583333 5.583333 1000.000000
A-6 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 5.791667 5.791667 1000.000000
A-7 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 5.966667 5.966667 1000.000000
A-8 ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 6.108333 6.108333 1000.000000
Certificates ▇▇▇▇▇▇▇▇▇ 1000.000000 0.000000 6.366667 6.366667 1000.000000
Original weighted average sercurities rate = 6.65%
Current weighted average sercurities rate = 6.68%
Determination Date August 4, 1997
Distribution Date August 11, 1997
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FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (SELLER)
FIRSTPLUS HOME LOAN OWNER TRUST 1997-1 (ISSUER)
THE FIRSTPLUS ASSET-BACKED NOTES AND CERTIFICATES SERIES 1997-1
AGREEMENT DATED FEBRUARY 27, 1997
SERVICER'S MONTHLY REMITTANCE REPORT
COLLECTIONS ON THE MORTGAGE LOANS:
Interest Principal Total
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Scheduled Monthly Payments 5,037,504.51 738,870.86 5,776,375.37
Recovery of Delinquent Scheduled Payments 1,216,860.32 137,034.09 1,353,894.41
Principal Prepayments 670,251.75 3,318,893.31 3,989,145.06
Foreclosure Collections 0.00 0.00 0.00
Total Collections on Mortgage Loans 6,924,616.58 4,194,798.26 11,119,414.84
Prefunding Account Deposit 0.00 0.00 0.00
Collection Account Earnings 28,903.97 0.00 28,903.97
Note Distribution Account Earnings 1,446.62 0.00 1,446.62
Capitalized Interest Release 0.00 0.00 0.00
Available Collection Amounts 6,954,967.17 4,194,798.26 11,149,765.43
FEES:
Servicing Fee 368,299.51
Trustee Fee 1,964.26
Custodian Fee 5,892.79
Guaranty Insurance 139,140.15
Owner Trustee Fee 0.00
Total Fees: 515,296.71
OVERCOLLATERALIZATION INFORMATION:
Original Overcollateralization Amount 0.00
Current Overcollateralization Amount 17,156,963.68
Interim Required Overcollateralization Amount 23,999,944.55
Required Overcollateralization Amount 44,999,896.07
Current Credit Support Multiple 1.00
Is Due Period a Step Down Date? No
RESERVE ACCOUNT INFORMATION
Original Reserve Account Deposit 14,019,276.18
Deposits on Subsequent Transfer 6,980,675.34
Current Reserve Fund Balance 20,999,951.52
Reserve Fund Requirement 20,999,951.52
AMOUNT IN PREFUNDING ACCOUNT: 0.00
Capital 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 229
Ending Weighted Average Remaining Maturity 229
Beginning Weighted Average Coupon 14.100%
Ending Weighted Average Coupon 14.100%
Beginning Number of Loans 19,393
Ending Number of Loans 19,263
Beginning Unpaid Principle Balance of Home Loans 589,279,217.41
Ending Unpaid Principle Balance of Home Loans 584,682,758.94
Loans Paid in Full 130
DELINQUENCIES:
# $ % of $
- - ------
30-59 Days 68 4,018,481.00 0.6819%
60-89 Days 50 2,013,511.00 0.3417%
Over 90 64 2,499,003.00 0.4241%
Total 182 8,530,995.00 1.4477%
LIQUIDATED LOANS:
Principal Interest
Liquidation Proceeds 0.00 0.00
Write-Offs 401,660.21 0.00
Net Losses 401,660.21 0.00
