SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 13, 1999
AAMES FINANCIAL CORPORATION
(Exact name of Registrant as Specified in Its Charter)
DELAWARE 0-19604 95-340340
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
350 South Grand Avenue, 52nd Floor
Los Angeles, California 90071
(Address of Principal Executive Offices)
(323) 210-5000
(Registrant's Telephone Number, Including Area Code)
NA
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
Reference is made to the press release of Registrant issued on October
13, 1999 which contains information meeting the requirements of this Item 5 and
is incorporated herein by this reference. A copy of the press release is
attached to this Form 8-K as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
99 Press release issued October 13, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.
AAMES FINANCIAL CORPORATION
Dated: October 20, 1999 By: /S/ DAVID A. SKLAR
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David A. Sklar
Executive Vice President-Finance,
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION OF EXHIBIT
- ----------- ----------------------
99 Press release issued October 13, 1999
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EXHIBIT 99
Contact: David Sklar
Aames Financial Corporation
(323) 210-5311
or
Steve Hawkins/Tom Ekman
Sitrick And Company
(310) 788-2850
FOR IMMEDIATE RELEASE
EXECUTIVES TO LEAD RISK MANAGEMENT AND INTERNET INITIATIVES
CHIEF CREDIT OFFICER, FORMER HOME SAVINGS EXECUTIVE, PROMOTED
NATIONAL/INTERNET LENDING GROUP TO LEVERAGE CALL CENTER AND
CENTRALIZED PROCESSING CAPABILITIES
LOS ANGELES, OCTOBER 13, 1999 -- AAMES FINANCIAL CORPORATION (NYSE: AAM), a
leader in subprime home equity lending, today announced the promotion of
Geoffrey Sanders to Executive Vice President and Chief Credit Officer of its
mortgage banking subsidiaries and named Celinda Moore Director of its new
National/Internet Lending Group.
Mr. Sanders, formerly the Senior Vice President and Chief Credit Officer
of the Company's mortgage banking subsidiaries, is responsible for the Company's
credit and risk assessment.
"Geoff has successfully spearheaded a company-wide upgrade of Aames'
risk management architecture, policies and systems, since joining us from Home
Savings a few months ago," Mani A. Sadeghi, Chief Executive Officer stated. "He
has also developed and implemented a state-of-the art loan valuation system,
which will streamline Aames' origination activities."
Ms. Moore will help the Company achieve its strategic objective of
using technology to increase originations and efficiency.
"Under Celinda's leadership, we have created a National/Internet Lending
Group which will leverage Aames' existing customer call center and centralized
processing and servicing capabilities to accelerate the implementation of our
Internet-based lending strategy," Mr. Sadeghi added. "Both our initiatives in
technology and risk management are important steps toward achieving Aames'
objective of becoming a more prudent, profitable, and innovative lender."
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Aames Financial Corporation is a leading home equity lender that
currently operates 102 retail branches, and 44 broker offices, serving customers
across the country. From time to time the Company may publish forward-looking
statements relating to such matters as anticipated financial performance,
business prospects and similar matters. The Private Securities Litigation Reform
Act of 1995 provides a safe harbor for forward-looking statements. In order to
comply with the terms of the safe harbor, the Company notes that a variety of
factors could cause the Company's actual results and experience to differ
materially from the anticipated results or other expectations expressed in the
Company's forward-looking statements. The risks and uncertainties that may
affect the operations, performance and results of the Company's business include
the following: negative cash flow and continued access to outside sources of
cash to fund operations; third party rights to terminate mortgage servicing;
high delinquencies and losses in our securitization trusts; dependence on
funding sources; Year 2000 compliance and technological enhancements; prepayment
risk; changes in interest rates; basis risk; prolonged interruptions or
reductions in the secondary market for mortgage loans; timing of loan sales;
dependence on broker network; competition; concentration of operations in
California; economic conditions; contingent risks on loans we sell; and
government regulation. For a more complete discussion of these risks and
uncertainties, see "Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations - Risk Factors" in the Company's Annual
Report on Form 10-K for the fiscal year ended June 30, 1999, and subsequent
Company filings with the United States Securities and Exchange Commission.
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