November 16, 2000
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Bear Stearns Asset Backed Securities, Inc. Asset-Backed
Certificates, Series 2000-1;
File No. 333-43091-06.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 2000 (the "Pooling and Servicing Agreement")
between Aames Capital Corporation, as seller (in such capacity,
the "Seller"), Countrywide Home Loans, Inc. as servicer (the "Servicer")
and Bankers Trust Company of California, N.A., a national banking
association, in its capacity as trustee, (the "Trustee").
The Certificates will represent certain undivided beneficial ownership
interests in Aames Mortgage Trust 2000-1 (the "Trust") created pursuant
to a Pooling and Servicing Agreement") among Aames Capital Corporation,
as sponsor (the "Sponsor"), Countrywide Home Loans, Inc., as servicer
(the "Servicer") and Bankers Trust Company of California, N.A., as
trustee (the "Trustee"), subject to the limits and priority of
distributions described therein. The Offered Certificates will be
issued in minimum denominations of $1,000 and integral dollar multiples
of $1 in excess thereof.
The assets of the Trust will consist of (a) the Mortgage Loans, divided
into three groups each constituting a sub-trust, that from time to time
are subject to the Pooling and Servicing Agreement; (b) the assets that
from time to time are required by the Pooling and Servicing Agreement
to be deposited in the Collection Account and the Certificate Account or
invested in Permitted Investments; (c) all rights of the mortgagee under
any insurance policy covering a Mortgage Loan or the related Mortgaged
Property; (d) property and any proceeds thereof acquired by foreclosure
of the Mortgage Loans, deed in lieu of foreclosure or a comparable
conversion; (e) the Certificate Insurance Policy; and (f) rights under
the applicable primary mortgage guaranty policy in connection with the
PMI Mortgage Loans.
The Offered Certificates were registered under the Securities Act of 1933,
as amended, by a Registration Statement on Form S-11 (File No.
333-64903). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). The Trust intends to fulfill these filing
requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as defined in
the Pooling and Servicing Agreement), a Current Report on Form 8-K in
substantially the form enclosed herewith, including as an exhibit thereto
the applicable Distribution Date report. Each such Current Report will
also disclose under Item 5 any matter occurring during the relevant
reporting period which would be reportable under Item 1, 2, 4 or 5 of
Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 247-6255.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Aames Mortgage Trust 2000-1 Mortgage Pass
Through Certificates, Series 2000-1.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant To Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 2000
AAMES CAPITAL CORPORATION
ON BEHALF OF AAMES MORTGAGE TRUST 2000-1
as Registrant, Aames Capital Corporation, as Seller, Countrywide
Home Loans Inc., as Servicer, and Bankers Trust Company of
California, N.A., as trustee (the "Trustee") under the Pooling and
Servicing Agreement, dated as of September 1, 2000, providing for
the issuance of Aames Mortgage Trust 2000-1 Mortgage Pass-Through
Certificates, Series 2000-1.
AAMES MORTGAGE TRUST 2000-1
(Exact name of Registrant as specified in its Charter)
CALIFORNIA
(State or Other Jurisdiction of Incorporation)
333-64903 95-4438859
(Commission File Number) (I.R.S. Employer Identification No.)
350 SOUTH GRAND, 52ND FLOOR
LOS ANGELES, CALIFORNIA 90071
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (213) 210-5000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
October 25, 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of September 1, 2000.
Date: November 16, 2000 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of October 25, 2000.
Aames 2000-1
Mortgage Pass-Through Certificates
October 25, 2000 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Cont
>ents 1
2. Cert
>ificate Payment Report 2
3. Coll
>ection Account Report 6
4. Cred
>it Enhancement Report 9
5. Coll
>ateral Report 10
6. Deli
>nquency Report 13
7. REO
>Report 17
8. Prep
>ayment Report 18
9. Prep
>ayment Detail Report 21
10. Real
>ized Loss Report 22
11. Real
>ized Loss Detail Report 25
12. Trig
>gers, Adj. Rate Cert. and Miscellaneous Report 26
Tota
>l Number of Pages
> 26
CONTACTS
Adm
>inistrator: Joyce B Santiago
Dir
>ect Phone Number: (714)247-6318
Add
>ress: Deutsche Bank
> 1761 E. St. Andrew Place, Santa Ana, CA 92705
Web
> Site: http://www-apps.gis.deutsche-bank.com/invr
Fac
>tor Information: (800) 735-7777
Mai
>n Phone Number: (714) 247-6000
ISSUANCE INFORMATION
Seller: Aames Capital Corpo
>ration Cut-Off Date:
> September 1, 2000
Certificate Insurer: Financial Security
>Assurance Inc. Closing Date:
> September 21, 2000
Servicer(s): Countrywide Home Lo
>ans, Inc. Master Servicer First Payment Date:
> October 25, 2000
Underwriter(s): Greenwich Capital M
>arkets, Inc. Underwriter Distribution Date:
> October 25, 2000
Lehman Brothers Sec
>urities Corporation Underwriter Record Date:
> October 24, 2000
Morgan Stanley Dean
> Witter Underwriter
> September 29, 2000
> Page 1 of 26
> (c) COPYRIGHT 2000 Deutsche Bank
HISTORICAL DATA
> - STATEMENT 1 GROUP TOTAL
1
issue_idperiod
> t_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
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>_3
AA0001 200010
> 03.43E+0822505586 940340532982.04 0 3975 290 76
> 1 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 1
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
AA0001 200010
> 11.54E+08 9727065 224186732982.04 0 2132 146 35
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> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 2
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
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AA0001 200010
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> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 3
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
AA0001 200010
> 394572094 5741550 5741550 0 0 827 64 24
> 0 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 4
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
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>
> 0 0
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
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0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
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>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
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>_ba
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 012001914 182 0 0 0 0 0 02.09E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
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>_ba
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0 8456959 97 0 0 0 0 0 01.26E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
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>_ba
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 011483101 88 0 0 0 0 0 01.26E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
17
>0 0 355.339
> 0 0 0.06962451
217400.5 1483315 0 0 0 17
>0 0 324.188
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
4.58E+08 5437 5420217400.5 1483315 0 0 0 17
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>670.033148 00.0586450.0109370.010937 0 0 0.069624507
>
> 0 0.05753413
131268.2 718456 0 0 0 10
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
2.08E+08 2965 2955131268.2 718456 0 0 0 10
>0 0 1583.6318028.6569005.34228124812176807321600800 325324.1883 2.92
>18 0 0 0 0 0 0 0 0.057534134
>
> 0 0.06763929
43994.18 486008 0 0 0 4
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
1.25E+08 1343 133943994.18 486008 0 0 0 4
>0 0 713.98 9225.28 43091.5136366861300888412585708 356355.11412.9919
>460.061152 00.1085770.0200140.020014 0 0 0.067639294
>
> 0 0.09168947
42138.17278851.5 0 0 0 3
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
1.25E+08 1129 112642138.17278851.5 0 0 0 3
>0 0 218.04 9596.142720.58133436621271586212353370 356355.33812.9947
>33 0.06029 00.1062730.0200550.020055 0 0 0.091689466
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
0.00007197 0.06969647 0 0 0 0.
>11
0 0.1
>06
BankruptREO Total Total Total
>
> Total Total Total
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
7.19659E-05 0.069696473 0 0 0 Oct-00458.30110.1082
>45 0.0032260.996774
> 0.0032260.038034 0.0380342.9608676.422738
0.00015854 0.05769268 0 0 0
BankruptREO Fixed Fixed Fixed
>
> Fixed Fixed Fixed
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa1or 2 padel_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.000158543 0.057692677 0 0 0 Oct-00208.03180.1092
>13 0.0034420.996558
> 0.0034420.040528 0.040528 2.92186.935367
0 0.06763929 0 0 0
BankruptREO AdjustabAdjustabAdjust
>able 1
> Adjustable 1 Adjustable 1 Adjustable 1
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.067639294 0 0 0 Oct-00125.03030.1086
>07 0.0038720.996128
> 0.0038720.045488 0.0454882.991946 7.60174
0 0.09168947 0 0 0
BankruptREO AdjustabAdjustabAdjust
>able 2
> Adjustable 2 Adjustable 2 Adjustable 2
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.091689466 0 0 0 Oct-00 125.2390.1062
>73 0.0022220.997778
> 0.0022220.026336 0.0263362.9947334.397044
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
>
> Printing Pages Starting# Pages # Pag
>es
Total Total
>
> 1 1Contents 1 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity 2 2Certificate Payment Repo 2 4
> 0
6.4227381483.315 0 1 0 0
> 0 0 0
> 3 3Collection Account Repor 6 3
> 0
>
> 4 4Credit Enhancement Repor 9 1
>
> 5 5Collateral Report 10 3
> 0
>
> 6 6Delinquency Report 13 4
> 0
>
> 7 7REO Report 17 1
>
> 8 Foreclosure Report 0
>
> 9 8Prepayment Report 18 3
> 0
>
> 10 9Prepayment Detail Report 21 1
>
> 11 10Realized Loss Report 22 3
> 0
>
> 12 11Realized Loss Detail Rep 25 1
>
> 13 12Triggers, Adj. Rate Cert 26 1
>
> 14 Other Related Information 0
>
> 15 Additional Certificate Report 0
>
> 16 Historical Certificate Payment Report
>
> 17 Credit Ratings
>
> Total Total Total Number of Pages 26
Fixed Fixed Fixed
> Fixed Fixed
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
6.935367 718.456 0 1 0 0
> 0 0 0
AdjustabAdjustable 1 Adjustable 1
> Adjustable 1 Adjustable 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
7.60174 486.008 0 1 0 0
> 0 0 0
AdjustabAdjustable 2 Adjustable 2
> Adjustable 2 Adjustable 2
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
4.397044278.8515 0 1 0 0
> 0 0 0
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
# Pages Total # # Standard Pgs per Report
1 1
0 4 2 1
0 3 3 1
1 1 1
0 3 3 1
0 4 1 1
1 1
0 0
0 3 3 1
1 1
0 3 3 1
1 1
1 1 1
0 0
0 1 0
0 0
0 0
26
