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Previous: RENAISSANCERE HOLDINGS LTD, PRER14A, 1996-11-22 |
Next: DEUTSCHE FLOORPLAN RECEIVABLES L P, 8-K, 1996-11-22 |
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)
NOVEMBER 15, 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: November 22, 1996
<PAGE>
Index to Exhibits
Sequential
Exhibit Page Number
- ------- -----------
20.1 Aames Capital Corporation, Mortgage Pass-Through 5 - 9
Certificates, Series 1996-A - Statement to
Certificateholders
20.2 Aames Capital Corporation, Mortgage Pass-Through 10 - 14
Certificates, Series 1996-B-Statement to
Certificateholders
20.3 Aames Capital Corporation, Mortgage Pass-Through 15 - 19
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 29,213,825.32 152,763.96 2,639,324.01 2,792,087.97 0.00 0.00 26,574,501.31
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 86,091,762.70 426,273.80 2,264,750.37 2,691,024.17 0.00 0.00 83,827,012.33
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 200,000,000.00 174,719,588.02 927,535.35 4,904,074.38 5,831,609.73 0.00 0.00 169,815,513.64
</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 719.800555 3.763957 65.030405 68.794362 654.770150 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 860.917627 4.262738 22.647504 26.910242 838.270123 5.750000% 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: October 31, 1996
DISTRIBUTION DATE: November 15, 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: November 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 648,754.74
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 75,806.99
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
---------
TOTAL SERVICING FEES DUE MASTER SERVICER: 75,806.99
=========
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 27,022.68
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 48,784.31
AMOUNT PER $1000 CERTIFICATE: 0.243922
</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 3,346,049.07 939,001.17 666,255.70 4,951,305.94
NUMBER OF LOANS 47 16 11 74
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 3,409,075.27 409,895.61 822,331.89 4,641,302.77
NUMBER OF LOANS 35 6 8 49
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 471,180.86 930,314.65 7,241,974.61 8,979,835.83
NUMBER OF LOANS 6 13 103 127
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 365,973.46 2,158,712.73 13,048,452.79 16,468,944.90
NUMBER OF LOANS 4 22 116 150
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 289,749.23 289,749.23
NUMBER OF LOANS 0 0 4 4
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 216,884.02 216,884.02
NUMBER OF LOANS 0 0 3 3
</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: November 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 1570 886
ENDING NUMBER OF LOANS: 1526 862
BEGINNING PRINCIPAL BALANCE OF POOL: 91,150,432.09 90,786,367.62
ENDING PRINCIPAL BALANCE OF POOL: 88,977,866.45 88,827,012.33
GROUP FACTOR: 88.97786645% 87.56609523%
WEIGHTED AVERAGE TERM TO MATURITY: 302.27 348.62
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.777715% 11.874222%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.751116% 11.925177%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 44 24
PRINCIPAL BALANCE: 2,087,624.96 1,929,961.96
AMOUNT PER $1000 CERTIFICATE: 51.437071 66.344516
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: 296,806.00 220,731.00
AVAILABLE FUNDS: 3,029,206.14 2,819,875.55
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 8,862.78 8,609.18
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 2,172,565.64 1,959,355.29
EXCESS CASH DISTRIBUTION: 346,516.17 305,395.08
OVERFLOW DISTRIBUTION: 0.00 120,242.21
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 2,989,365.14 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
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: November 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 894,619.85 898,347.92
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 117,142.62 29,393.33
PREPAYMENTS IN FULL 2,080,799.20 1,904,090.58
CURTAILMENTS 6,825.76 25,871.38
TERMINATION PRINCIPAL 0.00 0.00
------------ ------------
2,204,767.58 1,959,355.29
PAYMENTS AHEAD (32,201.94)
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: 317,788.57 330,966.17
MONTHLY SERVICING FEE: (24,695.97) (24,088.34)
DELINQUENT INTEREST: (331,071.95) (344,705.49)
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): 3,029,206.14 2,819,875.55
------------ ------------
TOTAL REMITTANCE DUE: 5,849,081.69
============
</TABLE>
PAGE 4 of 4 COPYRIGHT 1996 Bankers Trust Company
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 46,010,760.57 217,317.77 2,878,997.61 3,096,315.38 0.00 0.00 43,131,762.96
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-2 180,000,000.00 165,255,671.13 811,841.44 5,961,692.68 6,773,534.12 0.00 0.00 159,293,978.45
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============= ==== ==== ==============
TOTALS 300,035,000.00 279,194,431.70 1,459,006.54 8,840,690.29 10,299,696.83 0.00 0.00 270,353,741.41
</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 883.005365 4.170606 55.251648 59.422254 827.753718 5.485000% 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 918.087062 4.510230 33.120515 37.630745 884.966547 5.705000% 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: October 31, 1996
DISTRIBUTION DATE: November 15, 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: November 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 855,232.13
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 119,937.47
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 119,937.47
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 36,114.16
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 83,823.31
AMOUNT PER $1000 CERTIFICATE: 0.279378
</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 2,528,545.59 1,109,992.55 3,960,498.25 7,599,036.39
NUMBER OF LOANS 54 25 59 138
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 8,537,431.90 3,313,734.31 8,120,432.71 19,971,598.92
NUMBER OF LOANS 95 34 87 216
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 82,321.52 969,121.78 2,882,230.15 4,018,765.31
NUMBER OF LOANS 2 14 48 66
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 616,137.34 1,537,437.48 8,156,374.46 11,013,896.94
NUMBER OF LOANS 8 21 90 127
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: 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
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: November 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 2134 1822
ENDING NUMBER OF LOANS: 2086 1768
BEGINNING PRINCIPAL BALANCE OF POOL: 115,757,499.36 172,092,426.57
ENDING PRINCIPAL BALANCE OF POOL: 113,306,773.39 166,879,789.47
GROUP FACTOR: 113.8825% 103.7282%
WEIGHTED AVERAGE TERM TO MATURITY: 275.31 354.73
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.766629% 11.499363%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.746189% 11.679391%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 48 54
PRINCIPAL BALANCE: 2,281,552.78 5,061,058.86
AMOUNT PER $1000 CERTIFICATE: 43.785917 164.325428
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: 3,537,556.60 6,790,059.69
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 11,393.88 16,525.57
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 2,450,725.97 5,212,637.10
EXCESS CASH DISTRIBUTION: 428,271.65 749,055.59
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 2,247,010.43 7,585,811.02
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
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: November 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,135,062.92 1,649,127.77
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 386,086.41 81,787.71
PREPAYMENTS IN FULL 2,273,985.33 5,126,284.75
CURTAILMENTS 7,567.45 4,564.64
TERMINATION PRINCIPAL 0.00 0.00
---- ----
2,667,639.19 5,212,637.10
PAYMENTS AHEAD (216,913.22) 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: 333,945.59 521,286.54
MONTHLY SERVICING FEE: (34,422.04) (49,401.27)
DELINQUENT INTEREST: (347,755.84) (543,590.45)
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): 3,537,556.60 6,790,059.69
------------ ------------
TOTAL REMITTANCE DUE: 10,327,616.29
=============
</TABLE>
PAGE 4 of 4 COPYRIGHT 1996 Bankers Trust Co
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 68,145,788.68 321,279.00 1,968,316.96 2,289,595.96 0.00 0.00 66,177,471.72
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-2 350,000,000.00 346,626,200.64 1,696,879.68 5,474,682.41 7,171,562.09 0.00 0.00 341,151,518.23
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ==== ==============
TOTALS 525,000,000.00 520,571,989.32 2,679,918.26 7,442,999.37 10,122,917.63 0.00 0.00 513,128,989.95
</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 984.765732 4.642760 28.443887 33.086647 956.321846 5.475000% 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 990.360573 4.848228 15.641950 20.490177 974.718624 5.685000% 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: October 31, 1996
DISTRIBUTION DATE: November 15, 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 CERTIFICATEHOLDERS
Distribution Date: November 15, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
SERVICER ADVANCES: 848,973.42
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 218,398.71
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
-----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 218,398.71
===========
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 38,992.98
-----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 179,405.73
AMOUNT PER $1000 CERTIFICATE: 0.341725
</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 2,819,168.60 3,700,307.59 756,193.00 7,275,669.19
NUMBER OF LOANS 51 45 17 113
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 10,594,208.89 11,757,474.02 2,305,061.54 24,656,744.45
NUMBER OF LOANS 127 115 32 274
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 29,230.17 370,942.25 180,840.66 581,013.08
NUMBER OF LOANS 1 5 2 8
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 285,401.37 533,592.84 818,994.21
NUMBER OF LOANS 0 3 6 9
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: November 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
-------- --------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 3121 3752
ENDING NUMBER OF LOANS: 3089 3705
BEGINNING PRINCIPAL BALANCE OF POOL: 174,441,495.21 349,715,413.25
ENDING PRINCIPAL BALANCE OF POOL: 173,059,065.55 345,392,524.80
GROUP FACTOR: 119.4648% 119.0397%
WEIGHTED AVERAGE TERM TO MATURITY: 297.06 353.39
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.421557% 10.388430%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.416934% 10.514895%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 32 47
PRINCIPAL BALANCE: 1,200,213.06 4,098,587.66
AMOUNT PER $1000 CERTIFICATE: 17.344119 74.791746
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: 2,970,199.67 7,209,113.26
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 18,844.13 37,551.17
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 1,382,555.74 4,327,332.94
EXCESS CASH DISTRIBUTION: 585,761.23 1,147,349.47
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 1,081,593.83 4,241,006.57
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: November 15, 1996
<TABLE>
<CAPTION>
GROUP 1 GROUP 2
-------- --------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,660,327.88 3,027,495.07
TOTAL PRINCIPAL PAYMENTS RECEIVED: 1,269,821.54 224,300.79
SCHEDULED PRINCIPAL 1,171,137.53 4,080,542.63
PREPAYMENTS IN FULL 29,201.61 22,489.52
CURTAILMENTS 0.00 0.00
---- ----
TERMINATION PRINCIPAL 2,470,160.68 4,327,332.94
PAYMENTS AHEAD (1,087,604.94) 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: 270,466.76 578,506.66
MONTHLY SERVICING FEE: (61,268.26) (118,137.47)
DELINQUENT INTEREST: (281,882.45) (606,083.94)
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): 2,970,199.67 7,209,113.26
------------- -------------
TOTAL REMITTANCE DUE: 10,179,312.93
=============
</TABLE>
PAGE 4 of 4 COPYRIGHT 1996 Bankers Trust Company
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