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EXHIBIT 99.1
FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (DEPOSITOR)
FIRSTPLUS HOME LOAN TRUST 1996-2
THE FIRSTPLUS ASSET-BACKED CERTIFICATES SERIES 1996-2
AGREEMENT DATED JUNE 1, 1996
CERTIFICATE ADMINISTRATOR'S MONTHLY STATEMENT
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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 71,160,000.00 63,818,431.42 6.80% 2,402,153.83 0.00 361,637.78 0.00
A-2 17,200,000.00 17,194,901.55 6.95% 0.00 0.00 99,587.14 0.00
A-3 39,080,000.00 39,068,415.84 7.15% 0.00 0.00 232,782.64 0.00
A-4 10,630,000.00 10,526,849.04 7.35% 0.00 0.00 65,089.45 0.00
A-5 25,460,000.00 25,452,453.11 7.47% 0.00 0.00 158,441.52 0.00
A-6 30,380,000.00 30,370,994.71 7.85% 0.00 0.00 198,676.92 0.00
A-7 27,060,000.00 27,051,978.83 8.00% 0.00 0.00 180,346.53 0.00
A-8 20,655,000.00 20,848,877.41 8.22% 0.00 0.00 141,444.81 0.00
B 8,375,000.00 8,375,000.00 8.00% 0.00 0.00 55,833.33 0.00
R 0.00 3,954,110.80 0.00% 0.00 0.00 0.00 0.00
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Totals 250,000,000.00 246,562,012.71 2,402,153.83 1,493,840.12
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TOTAL OVER ALLOCATED ENDING POOL
CLASS DISTRIBUTION COLLATERAL LOSSES BALANCE FACTOR
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A-1 2,763,791.61 0.00 0.00 61,416,277.59 86.307304%
A-2 99,587.14 0.00 0.00 17,194,901.55 99.970358%
A-3 232,782.64 0.00 0.00 39,068,415.84 99.970358%
A-4 65,089.45 0.00 0.00 10,626,849.04 99.970358%
A-5 158,441.52 0.00 0.00 25,452,453.11 99.970358%
A-6 198,676.92 0.00 0.00 30,370,994.71 99.970358%
A-7 180,346.53 0.00 0.00 27,051,978.83 99.970358%
A-8 141,444.81 0.00 0.00 20,648,877.41 99.970358%
B 55,833.33 0.00 0.00 8,375,000.00 100.000000%
R 0.00 1,120,210.54 0.00 5,074,321.34 0.000000%
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Totals 3,895,993.95 245,280,069.42
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PRINCIPAL
BALANCE BEFORE PRINCIPAL INTEREST TOTAL END
CLASS CUSIP DISTRIBUTION REMITTANCE REMITTANCE DISTRIBUTION BALANCE
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A-1 000000XX0 896.830121 33.757080 5.082037 38,839118 863.073041
A-2 000000XX0 999.703578 0.000000 5.789950 5.789950 999.703578
A-3 000000XX0 999.703578 0.000000 5.966567 5.956567 999.703578
A-4 000000XX0 999.703579 0.000000 6.123184 6.123184 999.703579
A-5 000000XX0 999.703579 0.000000 6.223155 6.223155 999.703579
A-6 000000XX0 999.703578 0.000000 6.539727 6.539727 999.703578
A-7 000000XX0 999.703578 0.000000 6.664691 6.664691 999.703578
A-8 000000XX0 999.703578 0.000000 6.847969 6.847969 999.703578
B
Original weighted average Class A certificate rate = 7.35%
Current weighted average Class A certificate rate = 7.37%
Determination Date November 13, 1996
Distribution Date November 20, 1996
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FIRSTPLUS FINANCIAL, INC. (TRANSFEROR AND SERVICER)
FIRSTPLUS INVESTMENT CORPORATION (DEPOSITOR)
FIRSTPLUS HOME LOAN TRUST 1996-2
THE FIRSTPLUS ASSET-BACKED CERTIFICATES SERIES 1996-2
AGREEMENT DATED JUNE 1, 1996
CERTIFICATE ADMINISTRATOR'S MONTHLY STATEMENT
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Available Remittance 4,027,155.83
COLLECTIONS ON THE MORTGAGE LOANS:
Interest Principal Total
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Scheduled Monthly Payments 1,419,776.81 178,605.62 1,598,382.43
Recovery of Delinquent Scheduled Payments 328,299.41 33,366.24 361,665.65
Principal Prepayments 1,151,237.58 1,089,971.43 2,221,209.01
FHA Claims 0.00 0.00 0.00
Foreclosure Collections 0.00 0.00 0.00
Total 2,899,313.80 1,281,943.29 4,181,257.09
FEES:
Servicing Fee 154,101.26
Excess Servicing Fee 51,367.09
Trustee Fee 1,797.85
Custodian Fee 3,287.49
Certificate Guaranty Insurance 56,684.36
FHA Insurance Premium Acct. Deposit 19,600.98
Total Fees: 287,039.03
FHA INSURANCE FOR THE RELATED DUE PERIOD:
Beginning FHA Insurance Amount 0.00
Ending FHA Insurance Amount 0.00
Aggregate Number of Claims Submitted 83,320.22
Aggregate Balance of Loans with Claims rejected by FHA 0.00
Cumulative FHA Insurance Proceeds Received 0.00
FHA Insurance Proceeds this Due Period 0.00
OVERCOLLATERALIZATION INFORMATION:
Current Class A Overcollateralization 13,449,321.34
Required Class A Overcollateralization Level N/A
CAPITAL ACCOUNT INFORMATION:
Amount Remaining in Capitalized Interest Account 0.00
Amount to be Disbursed to Certificate Acct(5.16a) 0.00
COLLATERAL INFORMATION:
Title 1 Conventional Total
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Weighted Avg. Rem. Maturity 207 206 206
Weighted Average Coupon 13.886% 14.377% 14.282%
Remaining Number of Loans 2,345 7,654 9,999
Remaining Dollar Amount of Loans 47,331,630.74 197,949,438.68 245,280,069.42
DELINQUENCIES:
30 Days 60 Days 90 Days Total
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$ % $ % $ % $ %
- - - - - - - -
Conventionals 447,765.44 0.226% 308,696.80 0.156% 357,919.34 0.181% 1,114,381.58 0.563%
Title 1's 532,124.22 1.124% 229,300.42 0.484% 437,748.29 0.925% 1,199,172.93 2.534%
Combined 979,889.66 0.399% 537,997.22 0.219% 795,667.63 0.324% 2,313,554.51 0.943%
LIQUIDATED LOANS:
Liquidation Proceeds Written Off Net Losses/Gains
-------------------- ----------- ----------------
Principle Interest
Title 1 0.00 0.00 0.00 0.00
Conventional 0.00 0.00 0.00 0.00
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BACKUP CALCULATIONS:
AMOUNT AVAILABLE 4,028,931.72
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FHA Insurance Prem. 19,800.98 4,009,130.74 Principle Collections 1,281,943.29
Cert. Ins. Prem. 56,684.36 3,952,446.38 Interest Collections 2,899,313.80
Trustee Fee 1,797.85 3,950,648.53 Less Servicing Fee 154,101.26
Cust. Fee 3,287.49 3,947,361.04 ------------
A1-AB INT 1,438,006.79 2,509,354.25 WIRE FROM FFI TO FIRST TRUST 4,027,155.83
A-1 Prin 1,281,943.29 1,227,410.96 Certificate Acct Earning 1,776.89
A-2 Prin 0.00 1,227,410.96 ------------
A-3 Prin 0.00 1,227,410.96 Amount Available 4,028,931.72
A-4 Prin 0.00 1,227,410.96
A-5 Prin 0.00 1,227,410.96
A-6 Prin 0.00 1,227,410.96
A-7 Prin 0.00 1,227,410.96
A-8 Prin 0.00 1,227,410.96
Cert Ins. Reimb 0.00 1,227,410.96
B-Int 55,833.33 1,171,577.63
B-Prin 0.00 1,171,577.63
Excess Servicing 51,367.09 1,120,210.54
O.C to Class A-1 1,120,210.54 0.00
O.C to Class A-2 0.00 0.00
O.C to Class A-3 0.00 0.00
O.C to Class A-4 0.00 0.00
O.C to Class A-5 0.00 0.00
O.C to Class A-6 0.00 0.00
O.C to Class A-7 0.00 0.00
O.C to Class A-8 0.00 0.00
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FHA INSURANCE PREMIUM ACCOUNT:
Beginning Balance 50,234.81
FHA Insurance Premium Acc. Dep. 19,800.98
Earnings Current Due Period 171.19
Less Payment for FHA Premiums 0.00
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Ending Balance 70,206.98
CAPITALIZED INTEREST:
Beginning Balance: 0.00
Less Amount to be released to Depositor 0.00
on November 20 pursuant to Section 5.16(d)
Less Amount to be distributed to Certificate 0.00
Account on September 19 required by Section 5.16(a)
Less Amount to be distributed to Depositor
on November 20 pursuant to Section 5.16(c) -11.64
Plus Prefunding Account Earnings 0.60
Cap Int. Earnings 11.04
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Ending Balance on Distribution Date 0.00
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