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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
OCTOBER 15, 1996
Aames Capital Corporation
----------------------------
(Exact name of Registrant as specified in its charter)
California 33-99458 95-4438859
------------ --------- -----------
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
Aames Capital Corporation
3731 Wilshire Boulevard, 10th Floor
Los Angeles, California 90010
- ------------------------------------ -------
(Address of principal executive offices) (ZIP Code)
(213) 351-6100
---------------------------------
Registrant's telephone number, including area code
No Change
--------------
(Former name or former address, if changed since last report)
<PAGE>
Item 7. Financial Statements; Pro Forma Financial Information and
Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1996-A - Statement to Certificateholders
20.2 Aames Capital Corporation, Mortgage Pass-through
Certificates, Series 1996-B - Statement to Certificateholders
20.3 Aames Capital Corporation, Mortgage Pass-through
Certificates, Series 1996-C - Statement to Certificateholders
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the Registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.
AAMES CAPITAL CORPORATION
By: /s/ Mark E. Elbaum
-------------------------------
Mark E. Elbaum
Senior Vice President - Finance
and Chief Accounting Officer
Dated: October 22, 1996
<PAGE>
Index to Exhibits
Exhibit
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1996-A - Statement to
Certificateholders
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1996-B-Statement to
Certificateholders
20.3 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1996-C-Statement to
Certificateholders
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
<TABLE>
<CAPTION>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- --------- -------- --------- ----- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 40,586,000.00 31,864,900.21 166,626.87 2,651,074.89 2,817,701.76 0.00 0.00 29,213,825.32
A-1B 29,090,000.00 29,090,000.00 163,025.21 0.00 163,025.21 0.00 0.00 29,090,000.00
A-1C 15,977,000.00 15,977,000.00 93,532.02 0.00 93,532.02 0.00 0.00 15,977,000.00
A-1D 14,347,000.00 14,347,000.00 91,940.36 0.00 91,940.36 0.00 0.00 14,347,000.00
A-2 100,000,000.00 90,786,693.39 429,660.64 4,694,930.69 5,124,591.33 0.00 0.00 86,091,762.70
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ========== ============ =========== ==== ==== ==============
TOTALS 200,000,000.00 182,065,593.60 944,785.10 7,346,005.58 8,290,790.68 0.00 0.00 174,719,588.02
</TABLE>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<TABLE>
<CAPTION>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ------------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
----- ----- --------- -------- --------- ----- --------- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 00253CBE6 785.120490 4.105526 65.319935 69.425461 719.800555 6.275000% 6.275000%
A-1B 00253CBF3 1,000.000000 5.604167 0.000000 5.604167 1,000.000000 6.725000% 6.725000%
A-1C 00253CBG1 1,000.000000 5.854167 0.000000 5.854167 1,000.000000 7.025000% 7.025000%
A-1D 00253CBH9 1,000.000000 6.408333 0.000000 6.408333 1,000.000000 7.690000% 7.690000%
A-2 00253CBJ5 907.866934 4.296606 46.949307 51.245913 860.917627 5.875000% 5.750000%
R AA960A101 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
SELLER: Aames Capital Corporation
SERVICER: Aames Capital Corporation
LEAD UNDERWRITER: Prudential Securities Incorporated
RECORD DATE: September 30, 1996
DISTRIBUTION DATE: October 15, 1996
ADMINISTRATOR: Whitney Knox
Bankers Trust Company
3 Park Plaza
Irvine, CA 92714
FACTOR INFORMATION: (800) 735-7777
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: October 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 681,957.36
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 78,527.64
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
---------
TOTAL SERVICING FEES DUE MASTER SERVICER: 78,527.64
=========
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 28,541.31
----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 49,986.33
AMOUNT PER $1000 CERTIFICATE: 0.249932
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
- -------------- -------- -------- ------- ------
<S> <C> <C> <C> <C>
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 3,330,632.78 1,080,533.16 995,774.67 5,406,940.61
NUMBER OF LOANS 60 17 13 90
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 4,179,923.89 893,020.98 1,586,003.08 6,658,947.95
NUMBER OF LOANS 39 9 12 60
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 747,977.23 967,551.13 6,170,153.06 8,240,987.40
NUMBER OF LOANS 10 13 92 121
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 989,156.73 2,098,602.73 10,328,656.10 14,101,549.16
NUMBER OF LOANS 10 20 97 135
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 138,884.02 138,884.02
NUMBER OF LOANS 0 0 2 2
</TABLE>
REALIZED LOSS INFORMATION:
<TABLE>
<CAPTION>
GROUP 1 GROUP 2 TOTAL
------- ------- -----
<S> <C> <C> <C>
PRIOR REALIZED LOSSES: 0.00 0.00 0.00
PLUS: CURRENT REALIZED LOSSES 0.00 0.00 0.00
----- ----- -----
CUMULATIVE REALIZED LOSSES: 0.00 0.00 0.00
===== ===== =====
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
Statement To Certificateholders
Distribution Date: October 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 1610 929
ENDING NUMBER OF LOANS: 1570 886
BEGINNING PRINCIPAL BALANCE OF POOL: 93,445,556.14 95,020,789.47
ENDING PRINCIPAL BALANCE OF POOL: 91,150,432.09 90,786,367.62
GROUP FACTOR: 91.15043209% 89.49763708%
WEIGHTED AVERAGE TERM TO MATURITY: 303.37 349.60
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.803307% 11.856439%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.777715% 11.874222%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 40 43
PRINCIPAL BALANCE: 2,213,094.47 4,206,288.74
AMOUNT PER $1000 CERTIFICATE: 54.528519 144.595694
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 0.00 0.00
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00 0.00
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 142,731.00
AVAILABLE FUNDS: 3,175,327.24 5,133,670.00
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 9,127.89 9,078.67
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 2,295,124.05 4,234,421.85
EXCESS CASH DISTRIBUTION: 355,950.84 460,508.84
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 2,522,606.77 4,694,604.92
REQUIRED COVERAGE AMOUNT: 3,750,000.00 5,000,000.00
COVERAGE SURPLUS: 0.00 0.00
COVERAGE DEFICIT: 0.00 0.00
UNREIMBURSED MONTHLY ADVANCES: 0.00 0.00
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
TRUSTEE DISTRIBUTION DATE STATEMENT
Distribution Date: October 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 919,138.84 938,840.15
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 95,869.19 28,133.11
PREPAYMENTS IN FULL 2,165,531.65 4,190,899.34
CURTAILMENTS 47,562.82 15,389.40
TERMINATION PRINCIPAL 0.00 0.00
------------ -------------
2,308,963.66 4,234,421.85
PAYMENTS AHEAD (13,839.61)
TRUST INSURANCE PROCEEDS (PRINCIPAL & INTEREST): 0.00 0.00
NET LIQUIDATION PROCEEDS: 0.00 0.00
COMPENSATING INTEREST PAYMENTS TO BE PAID BY SERVICER: 0.00 0.00
AGGREGATE REPURCHASE PRICE: 0.00 0.00
SUBSTITUTION OF QUALIFIED REPLACEMENT MORTGAGE LOAN: 0.00 0.00
MONTHLY ADVANCES: 351,177.80 330,779.56
MONTHLY SERVICING FEE: (24,152.64) (25,833.69)
DELINQUENT INTEREST: (365,960.81) (344,537.87)
SERVICING ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00 0.00
MONTHLY ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00 0.00
PREPAYMENT INTEREST SHORTFALL: 0.00 0.00
PURCHASE ACCOUNT TRANSFER: 0.00 0.00
CAPITALIZED INTEREST BALANCE: 0.00 0.00
REMITTANCE DUE (Per Group): 3,175,327.24 5,133,670.00
------------ ------------
TOTAL REMITTANCE DUE: 8,308,997.24
============
</TABLE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
<TABLE>
<CAPTION>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- --------- -------- --------- ----- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 52,107,000.00 48,199,866.27 217,823.23 2,189,105.70 2,406,928.93 0.00 0.00 46,010,760.57
A-1B 30,799,000.00 30,799,000.00 186,718.94 0.00 186,718.94 0.00 0.00 30,799,000.00
A-1C 21,410,000.00 21,410,000.00 136,042.71 0.00 136,042.71 0.00 0.00 21,410,000.00
A-1D 15,719,000.00 15,719,000.00 107,085.69 0.00 107,085.69 0.00 0.00 15,719,000.00
A-2 180,000,000.00 172,259,058.48 808,995.53 7,003,387.35 7,812,382.88 0.00 0.00 165,255,671.13
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ========== ============ =========== ==== ==== ==============
TOTALS 300,035,000.00 288,386,924.75 1,456,666.09 9,192,493.05 10,649,159.14 0.00 0.00 279,194,431.70
</TABLE>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<TABLE>
<CAPTION>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ------------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ---------- -------- --------- ----- --------- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 00253CBL0 925.017105 4.180306 42.011739 46.192046 883.005365 5.610000% 5.485000%
A-1B 00253CBM8 1,000.000000 6.062500 0.000000 6.062500 1,000.000000 7.275000% 7.275000%
A-1C 00253CBN6 1,000.000000 6.354167 0.000000 6.354167 1,000.000000 7.625000% 7.625000%
A-1D 00253CBP1 1,000.000000 6.812500 0.000000 6.812500 1,000.000000 8.175000% 8.175000%
A-2 00253CBQ9 956.994769 4.494420 38.907708 43.402127 918.087062 5.830000% 5.705000%
R AA960B101 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
SELLER: Aames Capital Corporation
SERVICER: Aames Capital Corporation
LEAD UNDERWRITER: Prudential Securities Incorporated
RECORD DATE: September 30, 1996
DISTRIBUTION DATE: October 15, 1996
ADMINISTRATOR: Whitney Knox
Bankers Trust Company
3 Park Plaza
Irvine, CA 92714
FACTOR INFORMATION: (800) 735-7777
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE: OCTOBER 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 887,559.51
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 123,259.10
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 123,259.10
==========
LESS: - AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: - DELINQUENT SERVICE FEES: 37,698.85
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 85,560.25
AMOUNT PER $1000 CERTIFICATE: 0.285168
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
- --------------- -------- -------- ------- -----
<S> <C> <C> <C> <C>
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 4,340,938.56 3,058,096.75 2,808,509.08 10,207,544.39
NUMBER OF LOANS 86 46 42 174
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 7,756,851.53 4,726,927.41 5,829,723.24 18,313,502.18
NUMBER OF LOANS 89 61 60 210
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 195,744.97 529,730.09 1,967,484.32 2,774,004.01
NUMBER OF LOANS 9 32 46
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 808,504.52 1,936,183.88 4,900,104.21 7,829,856.18
NUMBER OF LOANS 5 23 54 85
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
</TABLE>
REALIZED LOSS INFORMATION:
<TABLE>
<CAPTION>
GROUP 1 GROUP 2 TOTAL
------- ------- -----
<S> <C> <C> <C>
PRIOR REALIZED LOSSES: 0.00 0.00 0.00
PLUS: CURRENT REALIZED LOSSES 11,827.20 0.00 11,827.20
--------- ---- ---------
CUMMULATIVE REALIZED LOSSES: 11,827.20 0.00 11,827.20
========= ==== =========
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE: October 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 2179 1888
ENDING NUMBER OF LOANS: 2134 1822
BEGINNING PRINCIPAL BALANCE OF POOL: 117,512,556.32 178,309,269.16
ENDING PRINCIPAL BALANCE OF POOL: 115,757,499.36 172,092,426.57
GROUP FACTOR: 116.3457% 106.9683%
WEIGHTED AVERAGE TERM TO MATURITY: 277.05 355.62
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.785527% 11.353723%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.766629% 11.499363%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 45 66
PRINCIPAL BALANCE: 1,632,900.52 6,216,456.79
AMOUNT PER $1000 CERTIFICATE: 31.337450 201.839566
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 0.00 0.00
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00 0.00
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 0.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 0.00
NUMBER OF REO LOANS: 0 0
BALANCE OF LOANS IN BANKRUPTCY 0.00 0.00
NUMBER OF LOANS IN BANKRUPTCY 0 0
AVAILABLE FUNDS: 2,848,389.06 7,829,608.79
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 11,612.79 17,225.91
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 1,743,229.76 6,216,842.59
EXCESS CASH DISTRIBUTION: 445,875.95 786,544.77
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 1,818,738.79 6,836,755.44
REQUIRED COVERAGE AMOUNT: 4,201,234.00 11,020,408.00
COVERAGE SURPLUS: 0.00 0.00
COVERAGE DEFICIT: 0.00 0.00
UNREIMBURSED MONTHLY ADVANCES: 1,022.94 0.00
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
TRUSTEE DISTRIBUTION DATE STATEMENT
DISTRIBUTION DATE: October 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,154,122.87 1,687,061.72
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 228,348.01 385.80
PREPAYMENTS IN FULL 1,623,447.24 6,047,446.87
CURTAILMENTS 9,453.28 169,009.92
TERMINATION PRINCIPAL 0.00 0.00
------------ ------------
1,861,248.53 6,216,842.59
PAYMENTS AHEAD (118,018.77) 0.00
TRUST INSURANCE PROCEEDS (PRINCIPAL & INTEREST): 0.00 0.00
NET LIQUIDATION PROCEEDS: 0.00 0.00
COMPENSATING INTEREST PAYMENTS TO BE PAID BY SERVICER: 0.00 0.00
AGGREGATE REPURCHASE PRICE: 0.00 0.00
SUBSTITUTION OF QUALIFIED REPLACEMENT MORTGAGE LOAN: 0.00 0.00
MONTHLY ADVANCES: 358,959.84 528,599.67
MONTHLY SERVICING FEE: (34,015.34) (51,544.91)
DELINQUENT INTEREST: (373,908.07) (551,350.28)
SERVICING ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00 0.00
MONTHLY ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00 0.00
PREPAYMENT INTEREST SHORTFALL: 0.00 0.00
PURCHASE ACCOUNT TRANSFER: 0.00 0.00
CAPITALIZED INTEREST BALANCE: 0.00 0.00
CLOSING DATE DEPOSIT 0.00 0.00
REMITTANCE DUE (Per Group): 2,848,389.06 7,829,608.79
------------ ------------
TOTAL REMITTANCE DUE: 10,677,997.85
=============
</TABLE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
<TABLE>
<CAPTION>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- --------- -------- --------- ----- -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 69,200,000.00 69,200,000.00 299,722.50 1,054,211.32 1,353,933.82 0.00 0.00 68,145,788.68
A-1B 54,800,000.00 54,800,000.00 329,713.33 0.00 329,713.33 0.00 0.00 54,800,000.00
A-1C 17,450,000.00 17,450,000.00 110,080.42 0.00 110,080.42 0.00 0.00 17,450,000.00
A-1D 19,900,000.00 19,900,000.00 130,510.83 0.00 130,510.83 0.00 0.00 19,900,000.00
A-1E 13,650,000.00 13,650,000.00 91,455.00 0.00 91,455.00 0.00 0.00 13,650,000.00
A-2 350,000,000.00 350,000,000.00 1,573,104.17 2,714,525.51 4,287,629.68 0.00 0.00 347,285,474.49
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ========== ============ =========== ==== ==== ==============
TOTALS 525,000,000.00 525,000,000.00 2,534,586.25 3,768,736.83 6,303,323.08 0.00 0.00 521,231,263.17
</TABLE>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<TABLE>
<CAPTION>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ------------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- --------- -------- --------- ----- --------- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 00253CBS5 1,000.000000 4.331250 15.234268 19.565518 984.765732 5.568750% 5.475000%
A-1B 00253CBT3 1,000.000000 6.016667 0.000000 6.016667 1,000.000000 7.220000% 7.220000%
A-1C 00253CBU0 1,000.000000 6.308334 0.000000 6.308334 1,000.000000 7.570000% 7.570000%
A-1D 00253CBV8 1,000.000000 6.558333 0.000000 6.558333 1,000.000000 7.870000% 7.870000%
A-1E 00253CBW6 1,000.000000 6.700000 0.000000 6.700000 1,000.000000 8.040000% 8.040000%
A-2 00253CBX4 1,000.000000 4.494583 7.755787 12.250371 992.244213 5.778750% 5.685000%
R 00253CBY2 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
SELLER: Aames Capital Corporation
SERVICER: Aames Capital Corporation
LEAD UNDERWRITER: Prudential Securities Incorporated
RECORD DATE: September 30, 1996
DISTRIBUTION DATE: October 15, 1996
ADMINISTRATOR: Whitney Knox
Bankers Trust Company
3 Park Plaza
Irvine, CA 92714
FACTOR INFORMATION: (800) 735-7777
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE: OCTOBER 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 840,675.16
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 181,254.57
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 181,254.57
==========
LESS: - AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: - DELINQUENT SERVICE FEES: 41,114.76
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 140,139.81
AMOUNT PER $1000 CERTIFICATE: 0.266933
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
- --------------- ------- --------- -------- -----
<S> <C> <C> <C> <C>
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 5,070,008.87 1,419,499.41 0.00 6,489,508.28
NUMBER OF LOANS 70 26 0 96
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 36,464,287.19 7,384,460.45 246,366.98 44,095,114.62
NUMBER OF LOANS 355 71 2 428
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
</TABLE>
REALIZED LOSS INFORMATION:
<TABLE>
<CAPTION>
GROUP 1 GROUP 2 TOTAL
------- ------- -----
<S> <C> <C> <C>
PRIOR REALIZED LOSSES: 0.00 0.00 0.00
PLUS: CURRENT REALIZED LOSSES 0.00 0.00 0.00
---- ---- ----
CUMMULATIVE REALIZED LOSSES: 0.00 0.00 0.00
==== ==== ====
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE: October 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
-------- --------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 2470 3113
ENDING NUMBER OF LOANS: 2459 3096
BEGINNING PRINCIPAL BALANCE OF POOL: 144,861,954.81 290,149,001.69
ENDING PRINCIPAL BALANCE OF POOL: 144,303,576.10 288,463,055.28
GROUP FACTOR: 99.6145% 99.4189%
WEIGHTED AVERAGE TERM TO MATURITY: 303.25 354.15
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.327973% 10.243724%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.327288% 10.262461%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 12 17
PRINCIPAL BALANCE: 334,863.93 1,556,427.24
AMOUNT PER $1000 CERTIFICATE: 4.839074 28.401957
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 0.00 0.00
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00 0.00
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 0.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 0.00
NUMBER OF REO LOANS: 0 0
BALANCE OF LOANS IN BANKRUPTCY 0.00 0.00
NUMBER OF LOANS IN BANKRUPTCY 0 0
AVAILABLE FUNDS: 2,034,651.73 4,325,546.35
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 18,958.33 37,916.67
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 558,668.37 1,686,018.46
EXCESS CASH DISTRIBUTION: 495,542.95 1,028,507.06
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 495,832.61 2,787,373.07
REQUIRED COVERAGE AMOUNT: 5,687,500.00 20,226,130.65
COVERAGE SURPLUS: 0.00 0.00
COVERAGE DEFICIT: 0.00 0.00
UNREIMBURSED MONTHLY ADVANCES: 0.00 0.00
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
TRUSTEE DISTRIBUTION DATE STATEMENT
DISTRIBUTION DATE: October 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,535,136.44 2,760,423.31
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 134,698.17 129,519.17
PREPAYMENTS IN FULL 334,863.93 1,550,021.55
CURTAILMENTS 0.00 6,405.69
TERMINATION PRINCIPAL 289.66 72.05
---------- ------------
469,851.76 1,686,018.46
PAYMENTS AHEAD (18,389.36) 0.00
TRUST INSURANCE PROCEEDS (PRINCIPAL & INTEREST): 0.00 0.00
NET LIQUIDATION PROCEEDS: 0.00 0.00
COMPENSATING INTEREST PAYMENTS TO BE PAID BY SERVICER: 0.00 0.00
AGGREGATE REPURCHASE PRICE: 108,412.04 0.00
SUBSTITUTION OF QUALIFIED REPLACEMENT MORTGAGE LOAN: 0.00 0.00
MONTHLY ADVANCES: 228,431.02 612,244.14
MONTHLY SERVICING FEE: (50,717.51) (89,422.30)
DELINQUENT INTEREST: (238,072.66) (643,717.26)
SERVICING ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00 0.00
MONTHLY ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00 0.00
PREPAYMENT INTEREST SHORTFALL: 0.00 0.00
PURCHASE ACCOUNT TRANSFER: 0.00 0.00
CAPITALIZED INTEREST BALANCE: (169,138.56) (283,656.79)
CLOSING DATE DEPOSIT 0.00 0.00
REMITTANCE DUE (Per Group): 1,865,513.17 4,041,889.56
------------ -----------
TOTAL REMITTANCE DUE: 5,907,402.73
============
</TABLE>
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