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Previous: GROWTH & INCOME PORTFOLIO, NSAR-B/A, 1996-12-27 |
Next: INTERIM SERVICES INC, S-8, 1996-12-27 |
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)
DECEMBER 16, 1996
Aames Capital Corporation
----------------------------
(Exact name of Registrant as specified in its charter)
California 33-99458 and 333-10185 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: December 24, 1996
<PAGE>
Index to Exhibits
Sequential
Exhibit Page Number
- ------- -----------
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 26,574,501.31 138,962.50 2,263,487.93 2,402,450.43 0.00 0.00 24,311,013.38
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 83,827,012.33 415,060.14 2,535,794.52 2,950,854.66 0.00 0.00 81,291,217.81
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 200,000,000.00 169,815,513.64 902,520.22 4,799,282.45 5,701,802.67 0.00 0.00 165,016,231.19
</TABLE>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<TABLE>
<CAPTION>
PASS-THROUGH
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A 00253CBE6 654.770150 3.423902 55.770165 59.194068 598.999985 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 838.270123 4.150601 25.357945 29.508547 812.912178 5.750000% 6.000000%
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: November 29, 1996
DISTRIBUTION DATE: December 16, 1996
ADMINISTRATOR: Whitney Knox
Bankers Trust Company
3 Park Plaza
Irvine, CA 92714
FACTOR INFORMATION (800) 735-7777
Page 1 of 4
COPYRIGHT 1996 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-A
Statement To Certificateholders
DISTRIBUTION DATE: December 16, 1996
FACTOR INFORMATION: (800) 735-7777
<TABLE>
<S> <C> <C>
SERVICER ADVANCES: 726,680.54
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 74,085.37
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
---------
TOTAL SERVICING FEES DUE MASTER SERVICER: 74,085.37
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 30,572.44
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 43,512.93
AMOUNT PER $1000 CERTIFICATE: 0.217565
</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 3,070,866.47 1,576,914.84 1,011,722.37 5,659,503.68
NUMBER OF LOANS 56 18 17 91
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 4,908,261.99 1,232,269.97 1,230,138.63 7,370,670.59
NUMBER OF LOANS 52 13 13 78
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 209,924.15 814,606.92 7,473,928.28 9,003,155.42
NUMBER OF LOANS 3 10 103 121
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 571,580.07 1,042,851.07 13,529,906.95 15,782,865.47
NUMBER OF LOANS 5 12 118 140
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 738,249.14 738,249.14
NUMBER OF LOANS 0 0 13 13
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 579,587.35 579,587.35
NUMBER OF LOANS 0 0 8 8
</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 2 of 4
COPYRIGHT 1996 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-A
Statement To Certificateholders
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 1526 862
ENDING NUMBER OF LOANS: 1497 838
BEGINNING PRINCIPAL BALANCE OF POOL: 88,977,866.45 88,827,012.33
ENDING PRINCIPAL BALANCE OF POOL: 87,474,847.23 86,291,217.81
GROUP FACTOR: 87.4784723% 85.06629682%
WEIGHTED AVERAGE TERM TO MATURITY: 301.31 347.58
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.751116% 11.925177%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.733567% 12.028614%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 29 24
PRINCIPAL BALANCE: 1,423,916.16 2,509,527.02
AMOUNT PER $1000 CERTIFICATE: 35.083925 86.267687
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: 793,104.00 586,062.00
AVAILABLE FUNDS: 2,337,269.42 3,381,514.80
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 8,598.85 8,382.70
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 1,503,019.22 2,535,794.52
EXCESS CASH DISTRIBUTION: 338,191.27 0.00
OVERFLOW DISTRIBUTION: 0.00 422,277.44
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 3,749,833.85 5,000,000.00
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 3 of 4
COPYRIGHT 1996 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-A
Trustee Distribution Date Statement
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 871,324.32 882,731.54
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 121,734.21 26,267.50
PREPAYMENTS IN FULL 1,417,873.17 2,500,007.68
CURTAILMENTS 6,042.99 9,519.34
TERMINATION PRINCIPAL 0.00 0.00
------------- ------------
1,545,650.37 2,535,794.52
PAYMENTS AHEAD (42,631.15)
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: 360,110.55 366,569.99
MONTHLY SERVICING FEE: (21,809.32) (21,703.61)
DELINQUENT INTEREST: (375,375.35) (381,877.64)
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): 2,337,269.42 3,381,514.80
============= =============
TOTAL REMITTANCE DUE: 5,718,784.22
=============
</TABLE>
Page 4 of 4
COPYRIGHT 1996 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-B
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
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 43,131,762.96 203,719.70 1,370,969.61 1,574,689.31 0.00 0.00 41,760,793.35
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-2 180,000,000.00 159,293,978.45 782,553.79 4,745,098.80 5,527,652.59 0.00 0.00 154,548,879.65
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 300,035,000.00 270,353,741.41 1,416,120.83 6,116,068.41 7,532,189.24 0.00 0.00 264,237,673.00
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C>
A-1A00253CBL0 827.753718 3.909642 26.310661 30.220303 801.443057 5.485000% 5.735000%
A-1B00253CBM8 1,000.000000 6.062500 0.000000 6.062500 1,000.000000 7.275000% 7.275000%
A-1C00253CBN6 1,000.000000 6.354167 0.000000 6.354167 1,000.000000 7.625000% 7.625000%
A-1D00253CBP1 1,000.000000 6.812500 0.000000 6.812500 1,000.000000 8.175000% 8.175000%
A-2 00253CBQ9 884.966547 4.347521 26.361660 30.709181 858.604887 5.705000% 5.955000%
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: November 29, 1996
DISTRIBUTION DATE: December 16, 1996
ADMINISTRATOR: Whitney Knox
Bankers Trust Company
3 Park Plaza
Irvine, CA 92714
FACTOR INFORMATION (800) 735-7777
Page 1 of 4
COPYRIGHT 1996 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-B
Statement To Certificateholders
Distribution Date: December 16, 1996
<TABLE>
<S> <C> <C>
SERVICER ADVANCES: 987,396.28
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 116,744.41
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
-----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 116,744.41
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 42,031.25
-----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 74,713.16
AMOUNT PER $1000 CERTIFICATE: 0.249015
</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 4,367,135.28 1,481,100.08 4,479,895.81 10,328,131.17
NUMBER OF LOANS 83 27 65 175
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 7,451,576.23 5,042,921.79 9,790,473.63 22,284,971.65
NUMBER OF LOANS 82 59 100 241
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 29,202.42 144,083.62 3,732,781.20 4,027,351.66
NUMBER OF LOANS 1 3 62 69
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 320,973.36 1,078,233.62 9,604,136.65 12,072,434.62
NUMBER OF LOANS 2 12 108 135
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 74,728.89 74,728.89
NUMBER OF LOANS 0 0 1 1
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 20,782.75 20,782.75
NUMBER OF LOANS 0 0 1 1
</TABLE>
<TABLE>
<CAPTION>
REALIZED LOSS INFORMATION:
GROUP 1 GROUP 2 TOTAL
<S> <C> <C> <C>
PRIOR REALIZED LOSSES: 11,827.20 0.00 11,827.20
PLUS: CURRENT REALIZED LOSSES 0.00 0.00 0.00
CUMULATIVE REALIZED LOSSES: 11,827.20 0.00 11,827.20
</TABLE>
Page 2 of 4
COPYRIGHT 1996 Bankers Trust
Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-B
Statement To Certificateholders
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 2086 1768
ENDING NUMBER OF LOANS: 2069 1735
BEGINNING PRINCIPAL BALANCE OF POOL: 113,306,773.39 166,879,789.47
ENDING PRINCIPAL BALANCE OF POOL: 112,353,021.87 162,890,886.22
GROUP FACTOR: 112.9239% 101.2488%
WEIGHTED AVERAGE TERM TO MATURITY: 274.52 353.79
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.746189% 11.679391%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.740679% 11.744156%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 17 33
PRINCIPAL BALANCE: 813,791.98 3,805,708.41
AMOUNT PER $1000 CERTIFICATE: 15.617709 123.565973
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: 74,729.00 22,237.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 20,782.75
NUMBER OF REO LOANS: 0 1
BALANCE OF LOANS IN BANKRUPTCY 0.00 0.00
NUMBER OF LOANS IN BANKRUPTCY 0 0
AVAILABLE FUNDS: 2,015,642.63 5,543,581.99
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 11,105.98 15,929.40
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 953,751.52 3,988,903.25
EXCESS CASH DISTRIBUTION: 417,218.09 756,195.55
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 2,664,228.52 8,342,006.57
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 3 of 4
COPYRIGHT 1996 Bankers Trust
Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-B
Trustee Distribution Date Statement
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,109,102.27 1,624,211.99
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 273,824.06 183,194.84
PREPAYMENTS IN FULL 777,532.94 3,802,631.04
CURTAILMENTS 36,259.04 3,077.37
TERMINATION PRINCIPAL 0.00 0.00
------------ ------------
1,087,616.04 3,988,903.25
PAYMENTS AHEAD (133,864.52) 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: 406,323.77 581,072.51
MONTHLY SERVICING FEE: (29,989.35) (44,723.81)
DELINQUENT INTEREST: (423,545.58) (605,881.95)
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): 2,015,642.63 5,543,581.99
============ ============
TOTAL REMITTANCE DUE: 7,559,224.62
============
</TABLE>
Page 4 of 4
COPYRIGHT 1996 Bankers Trust
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 66,177,471.72 311,999.21 2,379,409.55 2,691,408.76 0.00 0.00 63,798,062.17
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-2 350,000,000.00 341,151,518.23 1,670,078.83 8,080,714.71 9,750,793.54 0.00 0.00 333,070,803.52
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ==== ==============
TOTALS 525,000,000.00 513,128,989.95 2,643,837.62 10,460,124.26 13,103,961.88 0.00 0.00 502,668,865.69
</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 956.321846 4.508659 34.384531 38.893190 921.937315 5.475000% 5.725000%
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 974.718624 4.771654 23.087756 27.859410 951.630867 5.685000% 5.935000%
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: November 29, 1996
DISTRIBUTION DATE: December 16, 1996
ADMINISTRATOR: Whitney Knox
Bankers Trust Company
3 Park Plaza
Irvine, CA 92714
FACTOR INFORMATION: (800) 735-7777
PAGE 1 of 4 COPYRIGHT 1996 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 1,080,056.91
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 216,021.51
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
-----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 216,021.51
===========
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 48,807.18
-----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 167,214.33
AMOUNT PER $1000 CERTIFICATE: 0.318503
</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 4,997,850.54 1,718,452.19 3,067,550.45 9,783,853.18
NUMBER OF LOANS 85 29 32 146
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 14,336,739.55 7,096,566.79 8,178,359.71 29,611,666.05
NUMBER OF LOANS 155 76 77 308
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 264,517.59 551,782.91 835,466.07
NUMBER OF LOANS 0 4 7 12
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 464,889.06 857,110.64 1,351,968.00
NUMBER OF LOANS 0 5 9 15
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 2 of 4 COPYRIGHT 1996 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
-------- --------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 3089 3705
ENDING NUMBER OF LOANS: 3058 3643
BEGINNING PRINCIPAL BALANCE OF POOL: 173,059,065.55 345,392,524.80
ENDING PRINCIPAL BALANCE OF POOL: 171,261,661.66 338,487,331.35
GROUP FACTOR: 118.2240% 116.6598%
WEIGHTED AVERAGE TERM TO MATURITY: 296.15 352.42
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.416934% 10.514895%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.410470% 10.690607%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 31 62
PRINCIPAL BALANCE: 1,218,733.49 4,777,084.69
AMOUNT PER $1000 CERTIFICATE: 17.611756 87.173078
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: 3,371,799.23 9,787,751.62
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 18,630.89 36,958.08
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 1,797,403.89 6,905,193.45
EXCESS CASH DISTRIBUTION: 582,005.67 1,175,521.26
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 1,663,599.49 5,416,527.83
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 3 of 4 COPYRIGHT 1996 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
TRUSTEE DISTRIBUTION DATE STATEMENT
Distribution Date: December 16, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
-------- --------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,641,788.00 3,014,127.41
TOTAL PRINCIPAL PAYMENTS RECEIVED: 621,850.76 783,733.11
SCHEDULED PRINCIPAL 1,203,454.62 4,771,981.70
PREPAYMENTS IN FULL 15,278.87 5,165.99
CURTAILMENTS 0.00 0.00
---- ----
TERMINATION PRINCIPAL 1,840,584.25 5,560,817.80
PAYMENTS AHEAD (492,586.06) 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: 454,123.99 1,356,719.96
SUBSTITUTION OF QUALIFIED REPLACEMENT MORTGAGE LOAN: 0.00 0.00
MONTHLY ADVANCES: 396,978.49 683,078.42
MONTHLY SERVICING FEE: (55,094.41) (112,119.92)
DELINQUENT INTEREST: (413,992.03) (714,872.05)
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): 3,371,799.23 9,787,751.62
============= =============
TOTAL REMITTANCE DUE: 13,159,550.85
=============
</TABLE>
PAGE 4 of 4 COPYRIGHT 1996 Bankers Trust Company
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