FirstPlus Financial Group, Irving, Texas, has announced a $1 million debenture agreement with its subsidiary Rutgers Investment Group to enable Rutgers to expand its mortgage banking operations "more aggressively." Under the agreement, FirstPlus issued to Rutgers 10 million shares of common stock secured by a $1 million subordinate debenture issued by Rutgers. "This infusion permits Rutgers to more aggressively pursue its plans for licensing and expansion as a mortgage banking firm in selected areas of the United States," FirstPlus said. The parent company can be found on the Web at http://www.firstplusgroup.com.
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