Prospectus Supplement No. 27
The Prospectus dated November 14, 1996 (the "Prospectus") relating to the offer
for resale of up to $115,000,000 aggregate principal amount of 5.5% Convertible
Subordinated Debentures due 2006 of Aames Financial Corporation (the "Company")
and 6,160,713 shares of the common stock of the Company, par value $0.001 per
share, into which such Debentures are convertible is hereby amended as follows:
The following entity is hereby named as a Selling Security Holder as
contemplated on page 33 of the Prospectus:
SELLING SECURITY HOLDER PRINCIPAL AMOUNT OF DEBENTURES
----------------------- -----------------------------
Tucker Anthony Inc. $1,000,000
1 World Trade Center
New York, New York 10281
The date of this Prospectus Supplement is November 20, 1997.