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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 earliest event reported): February 25, 2000
AAMES FINANCIAL CORPORATION
(Exact name of Registrant as Specified in Its Charter)
Delaware 0-19604 95-340340
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(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
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(Registrant's Telephone Number, Including Area Code)
NA
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(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 February 25,
2000 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 February 25, 2000.
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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: February 25, 2000 By: /s/ Ralph W. Flick
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Ralph W. Flick
Assistant Secretary
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EXHIBIT INDEX
Exhibit No. Description of Exhibit
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99 Press release issued February 25, 2000.
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EXHIBIT 99
[AAMES FINANCIAL CORPORATION LOGO]
Contact: David Sklar
Aames Financial Corporation
(323) 210-5311
FOR IMMEDIATE RELEASE
AAMES ANNOUNCES THE SALE OF SERVICING ADVANCE RECEIVABLES
LOS ANGELES, CALIFORNIA, FEBRUARY 25, 2000--AAMES FINANCIAL CORPORATION
(NYSE:AAM), a leader in subprime home equity lending, today announced a sale
of certain servicing advance receivables, and the inclusion of the Company's
two most recent securitizations in the structure the Company put in place in
June, 1999, to monetize its servicing advance receivables and reduce the
burden of making future advances on the loans in the Company's servicing
portfolio. In connection with the sale of the advances, the Company received
approximately $15 million.
A. Jay Meyerson, Aames' chief executive officer, stated, "This sale is
another step by the Company to improve its liquidity and cash flow position.
The Company has been pleased with the performance of the servicing advance
funding structure since last June in improving cash flow and reducing
mid-month servicing advance requirements."
Aames Financial Corporation is a leading home equity lender, and at
December 31, 1999 operated 105 retail Aames Home Loan offices and 21
wholesale branches nationwide.
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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; dependence on funding sources; third
party rights to terminate mortgage servicing; high delinquencies and losses in
our securitization trusts; 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 and Florida; economic
conditions; contingent risks on loans we sell; government regulation; changes
in federal income tax laws; Year 2000 compliance; our ability to pay
dividends and the concentrated ownership of our controlling stockholder. 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 and
10-K/A for the fiscal year ended June 30, 1999 and "Item 2. Management's
Discussion and Analysis of Financial Condition and Results of
Operations--Risk Factors" in Form 10-Q for the quarter ended September 30,
1999, and subsequent Company Filings with the United States Securities and
Exchange Commission.
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