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Previous: FIRST TRUST COMBINED SERIES 220, 485BPOS, 1996-08-28 |
Next: PLANTRONICS INC /CA/, 10-Q/A, 1996-08-28 |
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)
August 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
<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
Dated: August 23, 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
<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 35,974,695.11 188,117.68 1,930,766.57 2,118,884.25 0.00 0.00 34,043,928.45
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 94,487,077.64 478,012.75 1,857,839.40 2,335,852.15 0.00 0.00 92,629,238.24
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ========== ============ =========== ==== ==== ==============
TOTALS 200,000,000.00 189,875,772.75 1,014,628.02 3,788,605.97 4,803,233.99 0.00 0.00 186,087,166.78
</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 866.381883 4.635039 47.572231 52.207270 838.809652 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 944.870776 4.780128 18.578394 23.358522 926.292382 5.875000% 5.812500%
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: July 31, 1996
DISTRIBUTION DATE: August 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: August 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 610,938.26
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 81,133.62
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
---------
TOTAL SERVICING FEES DUE MASTER SERVICER: 81,133.62
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 25,717.70
----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 55,415.92
AMOUNT PER $1000 CERTIFICATE: 0.277080
</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 3,763,616.14 826,032.85 1,365,285.27 5,954,934.26
NUMBER OF LOANS 58 16 22 96
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 5,705,541.26 1,052,964.25 2,265,680.64 9,024,186.15
NUMBER OF LOANS 48 14 22 84
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 171,840.08 1,139,376.38 4,492,262.22 5,948,272.04
NUMBER OF LOANS 1 18 59 80
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 343,096.27 2,196,503.49 6,468,600.83 9,063,374.85
NUMBER OF LOANS 3 23 60 87
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
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: August 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 1671 954
ENDING NUMBER OF LOANS: 1649 941
BEGINNING PRINCIPAL BALANCE OF POOL: 96,825,839.93 97,894,858.46
ENDING PRINCIPAL BALANCE OF POOL: 95,262,211.15 96,450,360.56
GROUP FACTOR: 95.26221115% 95.08122852%
WEIGHTED AVERAGE TERM TO MATURITY: 305.20 351.12
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.818779% 11.542087%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.814935% 11.707685%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 22 13
PRINCIPAL BALANCE: 1,476,123.56 1,408,530.94
AMOUNT PER $1000 CERTIFICATE: 36.370265 48.419764
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
AVAILABLE FUNDS: 2,476,920.70 2,345,300.86
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 9,538.87 9,448.71
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 1,563,628.78 1,444,497.90
EXCESS CASH DISTRIBUTION: 367,137.79 413,341.50
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 1,804,282.61 3,821,122.32
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: August 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 953,636.02 941,592.48
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 119,430.68 35,966.96
PREPAYMENTS IN FULL 1,468,206.79 1,398,954.21
CURTAILMENTS 7,916.77 9,576.73
TERMINATION PRINCIPAL 0.00 0.00
------------ ----------
1,595,554.24 1,444,497.90
PAYMENTS AHEAD (31,925.46)
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: 284,890.23 326,048.03
MONTHLY SERVICING FEE: (28,458.64) (26,957.28)
DELINQUENT INTEREST: (296,775.69) (339,880.27)
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): 2,476,920.70 2,345,300.86
============ ============
TOTAL REMITTANCE DUE: 4,822,221.56
============
</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 50,912,344.58 245,949.05 941,619.36 1,187,568.41 0.00 0.00 49,970,725.22
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-2 180,000,000.00 177,805,505.15 892,633.03 2,595,108.04 3,487,741.07 0.00 0.00 175,210,397.11
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ========== ============ =========== ==== ==== ==============
TOTALS 300,035,000.00 296,645,849.73 1,568,429.42 3,536,727.40 5,105,156.82 0.00 0.00 293,109,122.33
</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 977.073034 4.720077 18.070880 22.790957 959.002154 5.610000% 5.547500%
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 987.808362 4.959072 14.417267 19.376339 973.391095 5.830000% 5.767500%
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: July 31, 1996
DISTRIBUTION DATE: August 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: AUGUST 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 813,802.32
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 125,745.13
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 125,745.13
LESS: - AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: - DELINQUENT SERVICE FEES: 34,851.43
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 90,893.70
AMOUNT PER $1000 CERTIFICATE: 0.302944
</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 4,936,837.94 1,871,592.48 1,038,037.13 7,846,467.55
NUMBER OF LOANS 75 38 20 133
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 9,703,899.75 5,862,073.51 3,032,753.09 18,598,726.35
NUMBER OF LOANS 111 75 37 223
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 141,500.57 361,851.25 503,351.82
NUMBER OF LOANS 0 2 6 8
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 785,076.67 305,654.30 1,327,626.66
NUMBER OF LOANS 0 7 5 13
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-B
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE: AUGUST 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 2210 1931
ENDING NUMBER OF LOANS: 2202 1910
BEGINNING PRINCIPAL BALANCE OF POOL: 119,356,744.35 182,431,573.79
ENDING PRINCIPAL BALANCE OF POOL: 118,852,015.40 180,553,998.78
GROUP FACTOR: 119.4559% 112.2278%
WEIGHTED AVERAGE TERM TO MATURITY: 279.12 357.40
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.806315% 11.208321%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.802610% 11.282649%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 8 21
PRINCIPAL BALANCE: 393,591.35 1,815,857.45
AMOUNT PER $1000 CERTIFICATE: 7.553522 58.958325
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: 1,629,299.78 3,505,521.62
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 11,884.03 17,780.55
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 504,728.95 1,877,575.01
EXCESS CASH DISTRIBUTION: 436,890.41 717,533.03
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 953,290.18 5,343,601.67
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: 0.00 0.00
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
TRUSTEE DISTRIBUTION STATEMENT
DISTRIBUTION DATE: AUGUST 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,174,302.80 1,703,959.76
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 224,584.94 61,717.56
PREPAYMENTS IN FULL 345,678.42 1,878,206.74
CURTAILMENTS 47,912.93 (62,349.29)
TERMINATION PRINCIPAL 0.00 0.00
618,176.29 1,877,575.01
PAYMENTS AHEAD (113,447.34) 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: 297,916.94 515,885.38
MONTHLY SERVICING FEE: (37,496.35) (53,397.35)
DELINQUENT INTEREST: (310,152.56) (538,501.18)
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): 1,629,299.78 3,505,521.62
============ ============
TOTAL REMITTANCE DUE: 5,134,821.40
============
</TABLE>
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