Fitch Affirms 40 Classes from FirstPlus Homeowner Loan Trusts.

NEW YORK -- Fitch Ratings has removed from Rating Watch Evolving and affirms the following classes from FirstPlus Homeowner Loan Trusts:

Series 1997-2

--Class A-9 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1997-3

--Class A-8 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1997-4

--Class A-8 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1998-1

--Class A-8 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1998-2

--Class A-8 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1998-3

--Class A-8 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1998-4

--Class A-8 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

Series 1998-5

--Class A-9 affirmed at 'AAA';

--Class M-1 affirmed at 'AA';

--Class M-2 affirmed at 'A';

--Class B-1 affirmed at 'BBB';

--Class B-2 affirmed at 'BB'.

The trusts consist primarily of closed-end, junior-lien mortgages with loan-to-value ratios greater than 100% at issuance. The loans were originated or acquired by FirstPlus Financial, Inc. (FirstPlus). FirstPlus was a consumer finance company, which focused on high-loan-to-value second mortgage loans, but filed for bankruptcy on March 5, 1999 and has since been liquidated. On April 1, 2000, the servicing of the loans was transferred to Countrywide Home Loans, Inc. (Countrywide). Countrywide is rated 'RPS1' by Fitch.