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Previous: AAMES CAPITAL CORP, 8-K, 1997-07-29 |
Next: AIRPORT SYSTEMS INTERNATIONAL INC, 10KSB40, 1997-07-29 |
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)
JULY 15, 1997
AAMES CAPITAL CORPORIATION
---------------------------
(Exact name of Registrant as specified in its charter)
CALIFORNIA 333-10185 and 333-21219 95-4438859
- ---------------- ----------------------- ------------
(State or other (Commission (I.R.S. employer
jurisdiction of file numbers) identification no.)
incorporation)
350 SOUTH GRAND AVENUE
LOS ANGELES, CALIFORNIA 90071
- -------------------------- -------------
(Address of principal executive offices) (ZIP Code)
(213) 640-5000
----------------------------------
Registrant's telephone number, including area code
NA
--------------------------
(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
20.4 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1996-D - Statement to Certificateholders
20.5 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-A - Statement to Certificateholders
20.6 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-B - Statement to Certificateholders
PAGE 2
<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: July 25, 1997
PAGE 3
<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
20.4 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1996-D - Statement to
Certificateholders
20.5 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-A - Statement to
Certificateholders
20.6 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-B - Statement to
Certificateholders
PAGE 4
<PAGE>
EXHIBIT 20.1
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
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 40,586,000.00 11,214,913.75 58,644.65 2,612,051.81 2,670,696.46 0.00 0.00 8,602,861.94
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 60,954,345.40 297,681.55 2,520,402.85 2,818,084.40 0.00 0.00 58,433,942.55
R 0.00 0.00 547,423.74 0.00 547,423.74 0.00 0.00 0.00
TOTALS 200,000,000.00 131,583,259.15 1,252,247.53 5,132,454.66 6,384,702.19 0.00 0.00 126,450,804.49
</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> <C>
A-1A 00253CBE6 276.324687 1.444948 64.358444 65.803392 211.966243 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 609.543454 2.976816 25.204029 28.180844 584.339426 6.062500% 6.062500%
R AA960A101 0.000000 2.737119 0.000000 2.737119 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATION: (800) 735-7777
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
<S> <C> <C>
SERVICER ADVANCES: 557,939.42
ACCRUED SERVICING FEE FOR THE CURRENT
PERIOD: 58,472.18
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
---------
TOTAL SERVICING FEES DUE MASTER SERVICER: 58,472.18
LESS: AMOUNTS TO COVER INTEREST 0.00
SHORTFALLS:
LESS: DELINQUENT SERVICE FEES: 22,996.45
---------
COLLECTED SERVICING FEES FOR CURRENT 35,475.73
PERIOD:
AMOUNT PER $1000 CERTIFICATE: 0.177379
</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 2,362,266.58 500,003.87 1,002,590.65 3,864,861.10
NUMBER OF LOANS 40 10 21 71
- ---------------------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 3,075,204.89 819,998.35 2,924,605.80 6,819,809.04
NUMBER OF LOANS 27 9 33 69
- ---------------------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 241,129.37 534,264.72 6,281,653.98 7,824,484.92
NUMBER OF LOANS 4 8 89 114
- ---------------------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 605,204.82 459,191.99 11,142,417.75 13,671,940.11
NUMBER OF LOANS 3 4 103 125
- ---------------------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 2,336,946.56 2,336,946.56
NUMBER OF LOANS 0 0 33 33
- ---------------------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 2,661,951.42 2,661,951.42
NUMBER OF LOANS 0 0 26 26
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
REALIZED LOSS INFORMATION:
GROUP 1 GROUP 2 TOTAL
<S> <C> <C> <C>
PRIOR REALIZED LOSSES: 255,285.94 86,819.01 342,104.95
PLUS: CURRENT REALIZED LOSSES 42,686.30 38,374.10 81,060.40
-----------------------------------------
CUMULATIVE REALIZED LOSSES: 297,972.24 125,193.11 423,165.35
=========================================
</TABLE>
PAGE 2 OF 4
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
-------- ---------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 1257 645
ENDING NUMBER OF LOANS: 1211 622
BEGINNING PRINCIPAL BALANCE OF POOL: 74,378,913.75 65,954,345.40
ENDING PRINCIPAL BALANCE OF POOL: 71,766,861.94 63,433,942.55
GROUP FACTOR: 71.76686194% 62.53348512%
WEIGHTED AVERAGE TERM TO MATURITY: 276.52 340.66
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.639263% 12.352238%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.620430% 12.510745%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 46 23
PRINCIPAL BALANCE: 2,345,839.45 2,342,793.21
AMOUNT PER $1000 CERTIFICATE: 57.799228 80.536033
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED 0.00 0.00
IN DISTRIBUTION:
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR 0.00 0.00
THIS DISTRIBUTION:
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED 2,439,243.00 2,703,487.00
THROUGH FORECLOSURE:
AVAILABLE FUNDS: 3,259,804.09 3,133,450.93
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 7,062.89 6,095.43
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 2,569,365.51 2,482,028.75
EXCESS CASH DISTRIBUTION: 42,686.30 38,374.10
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 3,750,000.00 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>
<TABLE>
<CAPTION>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-A
TRUSTEE DISTRIBUTION DATE STATEMENT
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 721,429.79 678,903.15
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 109,070.98 64,205.28
PREPAYMENTS IN FULL 2,345,839.45 2,342,793.21
CURTAILMENTS 0.00 0.00
TERMINATION PRINCIPAL 0.00 0.00
------------ ------------
2,454,910.43 2,406,998.49
PAYMENTS AHEAD (12,353.26)
TRUST INSURANCE PROCEEDS (PRINCIPAL & INTEREST): 0.00 0.00
NET LIQUIDATION PROCEEDS: 131,413.83 75,030.26
COMPENSATING INTEREST PAYMENTS TO BE PAID BY 0.00 0.00
SERVICER:
AGGREGATE REPURCHASE PRICE: 0.00 0.00
SUBSTITUTION OF QUALIFIED REPLACEMENT MORTGAGE 0.00 0.00
LOAN:
MONTHLY ADVANCES: 260,808.11 297,131.31
MONTHLY SERVICING FEE: (19,893.29) (15,582.44)
DELINQUENT INTEREST: (271,906.03) (309,029.84)
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): 3,264,409.58 3,133,450.93
============ ============
TOTAL REMITTANCE DUE: 6,397,860.51
============
</TABLE>
<PAGE>
EXHIBIT 20.2
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 26,220,746.13 122,456.35 2,577,044.31 2,699,500.66 0.00 0.00 23,643,701.82
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-2 180,000,000.00 119,064,492.37 577,156.86 6,242,807.17 6,819,964.03 0.00 0.00 112,821,685.20
R 0.00 0.00 996,113.21 0.00 996,113.21 0.00 0.00 0.00
TOTALS 300,035,000.00 213,213,238.50 2,125,573.75 8,819,851.48 10,945,425.23 0.00 0.00 204,393,387.02
</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-1A 00253CBL0 503.209667 2.350094 49.456778 51.806872 453.752890 5.797500% 5.797500%
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 661.469402 3.206427 34.682262 37.888689 626.787140 6.017500% 6.017500%
R AA960B101 0.000000 3.319990 0.000000 3.319990 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATION: (800) 735-7777
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
Distribution Date: July 15, 1997
<S> <C> <C>
SERVICER ADVANCES: 908,544.88
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 95,181.20
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
---------
TOTAL SERVICING FEES DUE MASTER SERVICER: 95,181.20
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS 0.00
LESS: DELINQUENT SERVICE FEES: 37,458.04
---------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 57,723.16
AMOUNT PER $1000 CERTIFICATE: 0.192388
</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 3,126,230.99 755,538.74 906,892.54 4,788,662.27
NUMBER OF LOANS 64 12 21 97
- -----------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 5,585,015.16 1,489,781.74 3,012,166.00 10,086,962.90
NUMBER OF LOANS 60 18 34 112
- ------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 121,457.91 717,050.23 10,139,323.92 11,403,385.67
NUMBER OF LOANS 3 14 140 169
- ------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 219,418.38 1,520,672.69 20,805,074.75 23,939,010.34
NUMBER OF LOANS 3 13 226 260
- ------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 1,057,962.93 1,057,962.93
NUMBER OF LOANS 0 0 21 21
- -------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 3,393,611.59 3,393,611.59
NUMBER OF LOANS 0 0 31 31
- -------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
REALIZED LOSS INFORMATION:
GROUP 1 GROUP 2 TOTAL
<S> <C> <C> <C>
PRIOR REALIZED LOSSES: 15,484.73 53,737.48 69,222.21
PLUS CURRENT REALIZED LOSSES: 38,172.53 0.00 38,172.53
---------------------------------------
CUMULATIVE REALIZED LOSSES: 53,657.26 53,737.48 107,394.74
========================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 1779 1407
ENDING NUMBER OF LOANS: 1736 1349
BEGINNING PRINCIPAL BALANCE OF POOL: 98,349,980.13 130,084,900.37
ENDING PRINCIPAL BALANCE OF POOL: 95,772,935.82 123,842,093.20
GROUP FACTOR: 96.2596% 76.9771%
WEIGHTED AVERAGE TERM TO MATURITY: 269.90 341.77
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.673427% 12.209082%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.666741% 12.258682%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 43 58
PRINCIPAL BALANCE: 2,294,046.67 6,198,801.58
AMOUNT PER $1000 CERTIFICATE: 44.025691 201.266326
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: 1,252,127.00 3,655,088.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 1,057,962.93 3,393,611.59
NUMBER OF REO LOANS: 21 31
BALANCE OF LOANS IN BANKRUPTCY 0.00 0.00
NUMBER OF LOANS IN BANKRUPTCY 0 0
AVAILABLE FUNDS: 3,454,627.03 7,512,119.52
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 9,414.87 11,906.45
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 2,538,871.78 6,242,807.17
EXCESS CASH DISTRIBUTION: 38,172.53 0.00
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 4,201,234.00 11,020,408.00
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 DATE STATEMENT
<TABLE>
<CAPTION>
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
--------- ---------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 956,734.41 1,323,514.39
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 246,888.51 44,005.59
PREPAYMENTS IN FULL 2,294,046.67 6,198,801.58
CURTAILMENTS 0.00 0.00
TERMINATION PRINCIPAL 0.00 0.00
------------ ------------
2,540,935.18 6,242,807.17
PAYMENTS AHEAD (2,871.43) 0.00
TRUST INSURANCE PROCEEDS (PRINCIPAL & INTEREST): 0.00 0.00
NET LIQUIDATION PROCEEDS: 808.03 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: 345,657.45 562,887.43
MONTHLY SERVICING FEE: (26,542.68) (31,180.48)
DELINQUENT INTEREST: (360,093.93) (585,908.99)
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): 3,454,627.03 7,512,119.52
============ ============
TOTAL REMITTANCE DUE: 10,966,746.55
=============
</TABLE>
<PAGE>
EXHIBIT 20.3
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
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 69,200,000.00 43,661,620.76 203,557.15 4,658,391.22 4,861,948.37 0.00 0.00 39,003,229.54
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-2 350,000,000.00 274,809,242.32 1,327,691.24 12,491,288.62 13,818,979.86 0.00 0.00 262,317,953.70
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 525,000,000.00 424,270,863.08 2,193,007.97 17,149,679.84 19,342,687.81 0.00 0.00 407,121,183.24
</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-1A 00253CBS5 630.948277 2.941577 67.317792 70.259369 563.630485 5.787500% 5.787500%
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 785.169264 3.793404 35.689396 39.482800 749.479868 5.997500% 5.997500%
R 00253CBY2 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Knox
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATION (800) 735-7777
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
<S> <C> <C>
SERVICER ADVANCES: 1,219,527.42
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 184,408.26
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 184,408.26
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 52,713.11
----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 131,695.15
AMOUNT PER $1000 CERTIFICATE: 0.250848
</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 4,916,261.47 1,016,640.12 914,607.20 6,847,508.79
NUMBER OF LOANS 95 21 13 129
- -------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 9,396,165.16 3,279,960.47 3,041,894.90 15,718,020.53
NUMBER OF LOANS 114 38 33 185
- --------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 58,052.40 595,557.60 8,790,957.16 9,611,780.97
NUMBER OF LOANS 2 10 141 158
- --------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 183,807.44 1,378,448.56 27,345,636.52 28,908,480.49
NUMBER OF LOANS 3 16 292 311
- --------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 915,550.63 915,550.63
NUMBER OF LOANS 0 0 11 11
- --------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 1,830,776.64 1,830,776.64
NUMBER OF LOANS 0 0 19 19
- --------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
REALIZED LOSS INFORMATION:
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>
<TABLE>
<CAPTION>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1996-C
Statement To Certificateholders
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 2736 3131
ENDING NUMBER OF LOANS: 2667 3017
BEGINNING PRINCIPAL BALANCE OF POOL: 154,429,359.06 288,150,474.16
ENDING PRINCIPAL BALANCE OF POOL: 150,284,369.91 276,853,663.20
GROUP FACTOR: 103.7432% 95.4178%
WEIGHTED AVERAGE TERM TO MATURITY: 290.89 345.46
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.339212% 11.127530%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.308175% 11.215151%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 69 114
PRINCIPAL BALANCE: 3,976,056.26 11,049,467.16
AMOUNT PER $1000 CERTIFICATE: 57.457460 201.632612
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: 959,394.00 29,222,602.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 915,550.63 1,830,776.64
NUMBER OF REO LOANS: 11 19
BALANCE OF LOANS IN BANKRUPTCY 391,189.13 696,499.66
NUMBER OF LOANS IN BANKRUPTCY 7 10
AVAILABLE FUNDS: 5,539,899.63 13,818,750.86
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 16,191.68 29,771.00
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 4,144,989.15 11,296,810.96
EXCESS CASH DISTRIBUTION: 513,402.07 1,194,477.66
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 5,481,140.37 14,535,709.50
REQUIRED COVERAGE AMOUNT: ,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
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-C
TRUSTEE DISTRIBUTION DATE STATEMENT
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,459,256.04 2,672,002.60
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 169,850.93 247,343.80
PREPAYMENTS IN FULL 3,976,056.26 11,049,467.16
CURTAILMENTS 0.00 0.00
TERMINATION PRINCIPAL 0.00 0.00
------------ -------------
4,145,907.19 11,296,810.96
PAYMENTS AHEAD (918.04) 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: 409,944.05 809,583.37
MONTHLY SERVICING FEE: (46,831.92) (84,863.22)
DELINQUENT INTEREST: (427,457.69) (844,782.85)
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): 5,539,899.63 13,848,750.86
============ =============
TOTAL REMITTANCE DUE: 19,388,650.49
=============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT 20.4
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-D
STATEMENT TO CERTIFICATEHOLDERS
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 85,500,000.00 66,661,391.87 309,711.60 4,307,808.47 4,617,520.07 0.00 0.00 62,353,583.40
A-1B 27,000,000.00 27,000,000.00 142,650.00 0.00 142,650.00 0.00 0.00 27,000,000.00
A-1C 46,500,000.00 46,500,000.00 252,650.00 0.00 252,650.00 0.00 0.00 46,500,000.00
A-1D 10,000,000.00 10,000,000.00 56,250.00 0.00 56,250.00 0.00 0.00 10,000,000.00
A-1E 31,500,000.00 31,500,000.00 180,337.50 0.00 180,337.50 0.00 0.00 31,500,000.00
A-1F 17,000,000.00 17,000,000.00 101,575.00 0.00 101,575.00 0.00 0.00 17,000,000.00
A-1G 24,500,000.00 24,500,000.00 149,450.00 0.00 149,450.00 0.00 0.00 24,500,000.00
A-2 358,000,000.00 322,518,133.94 1,534,805.57 8,787,563.04 10,322,368.61 0.00 0.00 313,730,570.90
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 600,000,000.00 545,679,525.81 2,727,429.67 13,095,371.51 15,822,801.18 0.00 0.00 532,584,154.30
</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> <C>
A-1A 00253CBZ9 779.665402 3.622358 50.383725 54.006083 729.281677 5.767500% 5.767500%
A-1B 00253CCA3 1,000.000000 5.283333 0.000000 5.283333 1,000.000000 6.340000% 6.340000%
A-1C 00253CCB1 1,000.000000 5.433333 0.000000 5.433333 1,000.000000 6.520000% 6.520000%
A-1D 00253CCC9 1,000.000000 5.625000 0.000000 5.625000 1,000.000000 6.750000% 6.750000%
A-1E 00253CCD7 1,000.000000 5.725000 0.000000 5.725000 1,000.000000 6.870000% 6.870000%
A-1F 00253CCE5 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
A-1G 00253CCF2 1,000.000000 6.100000 0.000000 6.100000 1,000.000000 7.320000% 7.320000%
A-2 00253CCG0 900.888642 4.287166 24.546265 28.833432 876.342377 5.907500% 5.907500%
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATION: (800) 735-7777
</TABLE>
<TABLE>
<CAPTION>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
<S> <C> <C>
SERVICER ADVANCES: 1,293,187.62
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 233,580.25
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 233,580.25
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: 54,259.03
----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 179,321.22
</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 5,538,515.50 1,342,508.02 1,245,131.50 8,126,155.02
NUMBER OF LOANS 111 24 22 157
- ----------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 10,936,004.93 3,337,507.88 1,911,823.30 16,185,336.11
NUMBER OF LOANS 132 42 25 199
- ----------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 59,271.37 1,211,370.55 8,978,355.92 10,271,141.27
NUMBER OF LOANS 1 20 160 182
- ----------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 2,206,195.58 21,438,102.99 23,770,761.09
NUMBER OF LOANS 0 26 241 269
- ----------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
GROUP 1 (Fixed Rate)
PRINCIPAL BALANCE 0.00 0.00 163,607.16 163,607.16
NUMBER OF LOANS 0 0 3 3
- ----------------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
PRINCIPAL BALANCE 0.00 0.00 219,117.98 219,117.98
NUMBER OF LOANS 0 0 4 4
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
REALIZED LOSS INFORMATION: 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
PRINCIPAL BALANCES OF CURRENT LOSS LO
LOAN NUM:
LOAN NUM:
LOAN NUM:
CUMULATIVE REALIZED 0.00 0.00 0.00
=====================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
------- -------
<S> <C> <C>
BEGINNING NUMBER OF LOANS: 4002 3556
ENDING NUMBER OF LOANS: 3935 3487
BEGINNING PRINCIPAL BALANCE OF POOL: 228,100,759.61 332,491,843.94
ENDING PRINCIPAL BALANCE OF POOL: 224,594,442.07 325,161,905.25
GROUP FACTOR: 92.7991% 90.3407%
WEIGHTED AVERAGE TERM TO MATURITY: 284.49 350.11
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 11.117891% 11.426112%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 11.107483% 11.486884%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 67 69
PRINCIPAL BALANCE: 3,247,126.62 7,188,698.46
PARTIAL PREPAYMENTS COLLECTED: 0.00 1,018.69
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 233,330.00 220,786.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 163,607.16 219,117.98
NUMBER OF REO LOANS: 3 4
BALANCE OF LOANS IN BANKRUPTCY 0.00 0.00
NUMBER OF LOANS IN BANKRUPTCY 0 0
AVAILABLE FUNDS: 5,524,608.39 10,357,308.07
INSURED AMOUNT: 0.00 0.00
CERTIFICATE INSURER PREMIUM: 24,175.82 34,939.46
CLASS A MONTHLY INTEREST 1,192,624.10 1,534,805.57
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 3,506,317.54 7,329,938.69
EXCESS CASH DISTRIBUTION: 801,490.93 1,457,624.35
OVERFLOW DISTRIBUTION: 0.00 0.00
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 5,740,858.67 11,431,334.35
REQUIRED COVERAGE AMOUNT: 6,655,613.12 17,096,605.62
COVERAGE SURPLUS: 0.00 0.00
COVERAGE DEFICIT: 0.00 0.00
UNREIMBURSED MONTHLY/SERVICING ADVANCES: 0.00 0.00
MONTHLY/SERVICING ADVANCES REIMBURSED IN CURRENT DISTRIBUTION: 0.00 0.00
<PAGE> Page 3 of 3
</TABLE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-D
TRUSTEE DISTRIBUTION DATE STATEMENT
Distribution Date: July 15, 1997
GROUP 1 GROUP 2
-------- --------
<S> <C> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 2,113,332.84 3,165,907.65
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 259,190.92 140,221.54
PREPAYMENTS IN FULL 3,247,126.62 7,188,698.46
CURTAILMENTS 0.00 1,018.69
TERMINATION PRINCIPAL 0.00 0.00
3,506,317.54 7,329,938.69
PAYMENTS AHEAD 0.00 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: 477,720.42 815,467.19
MONTHLY SERVICING FEE: (74,943.72) (104,377.49)
DELINQUENT INTEREST: (497,818.69) (849,627.97)
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): 5,524,608.39 10,357,308.07
============ =============
TOTAL REMITTANCE DUE: 15,881,916.46
=============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT 20.5
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-A
STATEMENT TO CERTIFICATEHOLDERS
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-1 81,000,000.00 76,050,662.64 410,039.82 2,409,625.91 2,819,665.73 0.00 0.00 73,641,036.73
A-2 71,500,000.00 71,500,000.00 409,933.33 0.00 409,933.33 0.00 0.00 71,500,000.00
A-3 14,500,000.00 14,500,000.00 87,241.67 0.00 87,241.67 0.00 0.00 14,500,000.00
A-4 23,000,000.00 23,000,000.00 145,858.33 0.00 145,858.33 0.00 0.00 23,000,000.00
A-5 25,000,000.00 25,000,000.00 149,583.33 0.00 149,583.33 0.00 0.00 25,000,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 215,000,000.00 210,050,662.64 1,202,656.48 2,409,625.91 3,612,282.39 0.00 0.00 207,641,036.73
</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> <C>
A-1 00253CCH8 938.897070 5.062220 29.748468 34.810688 909.148602 6.470000% 6.470000%
A-2 00253CCJ4 1,000.000000 5.733333 0.000000 5.733333 1,000.000000 6.880000% 6.880000%
A-3 00253CCK1 1,000.000000 6.016667 0.000000 6.016667 1,000.000000 7.220000% 7.220000%
A-4 00253CCL9 1,000.000000 6.341667 0.000000 6.341667 1,000.000000 7.610000% 7.610000%
A-5 00253CCM7 1,000.000000 5.983333 0.000000 5.983333 1,000.000000 7.180000% 7.180000%
R AA971A101 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: DLJ Security Corporation 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATION: (800) 735-7777
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-A
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
Distribution Date: July 15, 1997
<S> <C> <C>
MONTHLY ADVANCES: 280,207.54
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 87,541.04
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00
-----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 87,541.04
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00
LESS: DELINQUENT SERVICE FEES: (12,267.84)
------------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 75,273.20
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE 4,919,015.40 1,535,737.79 1,185,334.34 7,640,087.53
NUMBER OF LOANS 82 26 14 122
- ---------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
PRINCIPAL BALANCE 13,873.45 619,711.39 1,940,116.37 2,573,701.21
NUMBER OF LOANS 1 12 32 45
- ---------------------------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS: 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS: 0.00
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00
REALIZED LOSS INFORMATION
</TABLE>
<TABLE>
<CAPTION>
LOAN NUMBER PRINCIPAL BALANCE NET LIQUIDATION PROCEEDS TOTAL LOSS AMOUNT
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
TOTAL CURRENT PERIOD LOSSES: 0.00
CUMULATIVE REALIZED LOSSES: 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-A
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
<S> <C>
BEGINNING NUMBER OF LOANS: 3664
ENDING NUMBER OF LOANS: 3635
BEGINNING PRINCIPAL BALANCE OF POOL: 211,593,975.82
ENDING PRINCIPAL BALANCE OF POOL: 209,738,872.26
WEIGHTED AVERAGE TERM TO MATURITY: 223
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.590899%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.586898%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 29
PRINCIPAL BALANCE: 1,475,135.11
NUMBER OF LOANS SUBSTITUTED: 0
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 0.00
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00
AVAILABLE FUNDS: 3,635,037.88
INSURED AMOUNT: 0.00
CERTIFICATE INSURER PREMIUM: 22,755.49
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
MONTHLY PRINCIPAL: 1,855,103.56
EXCESS CASH DISTRIBUTION: 554,522.35
COVERAGE AMOUNTS:
COVERAGE AMOUNT: 2,097,835.53
REQUIRED COVERAGE AMOUNT: 7,525,000.00
COVERAGE SURPLUS: 0.00
COVERAGE DEFICIT: 0.00
UNREIMBURSED MONTHLY ADVANCES: 0.00
UNREIMBURSED SERVICING ADVANCES: 0.00
</TABLE>
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-A
TRUSTEE DISTRIBUTION DATE STATEMENT
<TABLE>
<CAPTION>
Distribution Date: July 15, 1997
<S> <C>
REPORTED SCHEDULED INTEREST ON MORTGAGE LOANS 1,867,475.35
TOTAL PRINCIPAL PAYMENTS RECEIVED:
SCHEDULED PRINCIPAL 379,968.45
PREPAYMENTS IN FULL 1,475,135.11
CURTAILMENTS 0.00
------------
1,855,103.56
PAYMENTS AHEAD 0.00
TRUST INSURANCE PROCEEDS (PRINCIPAL & INTEREST): 0.00
NET LIQUIDATION PROCEEDS: 0.00
COMPENSATING INTEREST PAYMENTS TO BE PAID BY SERVICER: 0.00
AGGREGATE REPURCHASE PRICE: 0.00
SUBSTITUTION OF QUALIFIED REPLACEMENT MORTGAGE LOAN: 0.00
MONTHLY ADVANCES: 280,207.54
MONTHLY SERVICING FEE: (75,273.20)
DELINQUENT INTEREST: (292,475.37)
SERVICING ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00
MONTHLY ADVANCES NOT PREVIOUSLY REIMBURSED: 0.00
PREPAYMENT INTEREST SHORTFALL: 0.00
TOTAL REMITTANCE DUE: 3,635,037.88
=============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
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>
A1 71,000,000.00 71,000,000.00 379,258.33 818,429.93 1,197,688.26 0.00 0.00 70,181,570.07
A2 10,500,000.00 10,500,000.00 57,050.00 0.00 57,050.00 0.00 0.00 10,500,000.00
A3 39,250,000.00 39,250,000.00 218,491.67 0.00 218,491.67 0.00 0.00 39,250,000.00
A4 9,750,000.00 9,750,000.00 56,468.75 0.00 56,468.75 0.00 0.00 9,750,000.00
A5 13,900,000.00 13,900,000.00 84,210.83 0.00 84,210.83 0.00 0.00 13,900,000.00
A6 19,000,000.00 19,000,000.00 109,566.67 0.00 109,566.67 0.00 0.00 19,000,000.00
AIO 0.00 0.00 87,083.33 0.00 87,083.33 0.00 0.00 0.00
M1F 8,550,000.00 8,550,000.00 50,801.25 0.00 50,801.25 0.00 0.00 8,550,000.00
M2F 11,400,000.00 11,400,000.00 70,110.00 0.00 70,110.00 0.00 0.00 11,400,000.00
B1F 6,650,000.00 6,650,000.00 42,560.00 0.00 42,560.00 0.00 0.00 6,650,000.00
A1A 241,800,000.00 241,800,000.00 793,574.17 3,006,889.12 3,800,463.29 0.00 0.00 238,793,110.88
M1A 25,575,000.00 25,575,000.00 80,861.05 0.00 80,861.05 0.00 0.00 25,575,000.00
M2A 25,575,000.00 25,575,000.00 88,766.56 0.00 88,766.56 0.00 0.00 25,575,000.00
B1A 17,050,000.00 17,050,000.00 63,250.76 0.00 63,250.76 0.00 0.00 17,050,000.00
C 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
TOTALS 500,000,000.00 500,000,000.00 2,182,053.37 3,825,319.05 6,007,372.42 0.00 0.00 496,174,680.95
</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> <C>
A1 00253CCN5 1,000.000000 5.341667 11.527182 16.868849 988.472818 6.410000% 0.000000%
A2 00253CCP0 1,000.000000 5.433333 0.000000 5.433333 1,000.000000 6.520000% 0.000000%
A3 00253CCQ8 1,000.000000 5.566667 0.000000 5.566667 1,000.000000 6.680000% 0.000000%
A4 00253CCR6 1,000.000000 5.791667 0.000000 5.791667 1,000.000000 6.950000% 0.000000%
A5 00253CCS4 1,000.000000 6.058333 0.000000 6.058333 1,000.000000 7.270000% 0.000000%
A6 00253CCT2 1,000.000000 5.766667 0.000000 5.766667 1,000.000000 6.920000% 0.000000%
AIO 00253CCU9 0.000000 0.174167 0.000000 0.174167 0.000000 5.500000% 0.000000%
M1F 00253CCV7 1,000.000000 5.941667 0.000000 5.941667 1,000.000000 7.130000% 0.000000%
M2F 00253CCW5 1,000.000000 6.150000 0.000000 6.150000 1,000.000000 7.380000% 0.000000%
B1F 00253CCX3 1,000.000000 6.400000 0.000000 6.400000 1,000.000000 7.680000% 0.000000%
A1A 00253CCY1 1,000.000000 3.281944 12.435439 15.717383 987.564561 5.907500% 0.000000%
M1A 00253CCZ8 1,000.000000 3.161722 0.000000 3.161722 1,000.000000 5.691100% 0.000000%
M2A 00253CDA2 1,000.000000 3.470833 0.000000 3.470833 1,000.000000 6.247500% 0.000000%
B1A 00253CDB0 1,000.000000 3.709722 0.000000 3.709722 1,000.000000 6.677500% 0.000000%
C .000000 .000000 .000000 .000000 .000000 .000000% .000000%
RIII .000000 .000000 .000000 .000000 .000000 .000000% .000000%
- ---------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donalson, Lufkin & Jenrette 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATI(800) 735-7777
</TABLE>
PAGE 1 OF 8
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
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>
IFA 19,000,000.00 19,000,000.00 154,098.73 0.00 154,098.73 0.00 0.00 19,000,000.00
IFB 171,000,000.00 171,000,000.00 1,386,888.60 433,043.43 1,819,932.03 0.00 0.00 170,566,956.57
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
TOTALS 190,000,000.00 190,000,000.00 1,540,987.33 433,043.43 1,974,030.76 0.00 0.00 189,566,956.57
</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> <C>
IFA 1,000.000000 8.110459 0.000000 8.110459 1,000.000000 9.732552% 0.000000%
IFB 1,000.000000 8.110460 2.532418 10.642877 997.467582 9.732552% 0.000000%
RIF 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donalson, Lufkin & Jenrette 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATI(800) 735-7777
</TABLE>
PAGE 2 OF 8
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
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>
IA 310,000,000.00 310,000,000.00 2,280,037.88 1,753,303.78 4,033,341.66 0.00 0.00 308,246,696.22
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
TOTALS 310,000,000.00 310,000,000.00 2,280,037.88 1,753,303.78 4,033,341.66 0.00 0.00 308,246,696.22
</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> <C>
IA 1,000.000000 7.354961 5.655819 13.010780 994.344181 8.825953% 0.000000%
RIA 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donalson, Lufkin & Jenrette 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATI(800) 735-7777
</TABLE>
PAGE 3 OF 8
<PAGE>
<TABLE>
<CAPTION> TRUST COMPANY
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
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>
IIAF 186,200,000.00 186,200,000.00 1,424,825.92 0.00 1,424,825.92 0.00 0.00 186,200,000.00
II1F 710,000.00 710,000.00 5,433.01 0.00 9,763.44 0.00 0.00 710,000.00
II2F 105,000.00 105,000.00 803.47 0.00 803.47 0.00 0.00 105,000.00
II3F 392,500.00 392,500.00 3,003.46 0.00 3,003.46 0.00 0.00 392,500.00
II4F 97,500.00 97,500.00 746.08 0.00 746.08 0.00 0.00 97,500.00
II5F 139,000.00 139,000.00 1,063.65 0.00 1,063.65 0.00 0.00 139,000.00
II6F 190,000.00 190,000.00 1,453.90 0.00 1,453.90 0.00 0.00 190,000.00
II7F 85,500.00 85,500.00 654.26 0.00 654.26 0.00 0.00 85,500.00
II8F 114,000.00 114,000.00 872.34 0.00 872.34 0.00 0.00 114,000.00
II9F 66,500.00 66,500.00 508.87 0.00 508.87 0.00 0.00 66,500.00
IIMF 1,900,000.00 1,900,000.00 14,539.04 0.00 18,869.47 0.00 0.00 1,900,000.00
IIAA 303,800,000.00 303,800,000.00 2,234,437.12 0.00 4,468,874.24 0.00 0.00 303,800,000.00
II1A 2,418,000.00 2,418,000.00 17,784.30 0.00 35,568.60 0.00 0.00 2,418,000.00
II2A 255,750.00 255,750.00 1,881.03 0.00 3,762.06 0.00 0.00 255,750.00
II3A 255,750.00 255,750.00 1,881.03 0.00 3,762.06 0.00 0.00 255,750.00
II4A 770,500.00 770,500.00 5,667.00 0.00 11,334.00 0.00 0.00 770,500.00
IIMA 3,100,000.00 3,100,000.00 22,800.38 0.00 45,600.76 0.00 0.00 3,100,000.00
IIIO 0.00 0.00 87,083.33 0.00 87,083.33 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ERR 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
TOTALS 500,600,000.00 500,600,000.00 3,825,438.19 0.00 3,825,438.19 0.00 0.00 500,600,000.00
</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> <C>
IIAF 1,000.000000 7.652126 0.000000 7.652126 1,000.000000 9.182552% 0.000000%
II1F 1,000.000000 7.652127 0.000000 7.652127 1,000.000000 9.182552% 0.000000%
II2F 1,000.000000 7.652095 0.000000 7.652095 1,000.000000 9.182552% 0.000000%
II3F 1,000.000000 7.652127 0.000000 7.652127 1,000.000000 9.182552% 0.000000%
II4F 1,000.000000 7.652103 0.000000 7.652103 1,000.000000 9.182552% 0.000000%
II5F 1,000.000000 7.652158 0.000000 7.652158 1,000.000000 9.182552% 0.000000%
II6F 1,000.000000 7.652105 0.000000 7.652105 1,000.000000 9.182552% 0.000000%
II7F 1,000.000000 7.652164 0.000000 7.652164 1,000.000000 9.182552% 0.000000%
II8F 1,000.000000 7.652105 0.000000 7.652105 1,000.000000 9.182552% 0.000000%
II9F 1,000.000000 7.652180 0.000000 7.652180 1,000.000000 9.182552% 0.000000%
IIMF 1,000.000000 7.652126 0.000000 7.652126 1,000.000000 9.182552% 0.000000%
IIAA 1,000.000000 7.354961 0.000000 7.354961 1,000.000000 8.825953% 0.000000%
II1A 1,000.000000 7.354963 0.000000 7.354963 1,000.000000 8.825953% 0.000000%
II2A 1,000.000000 7.354956 0.000000 7.354956 1,000.000000 8.825953% 0.000000%
II3A 1,000.000000 7.354956 0.000000 7.354956 1,000.000000 8.825953% 0.000000%
II4A 1,000.000000 7.354964 0.000000 7.354964 1,000.000000 8.825953% 0.000000%
IIMA 1,000.000000 7.354961 0.000000 7.354961 1,000.000000 8.825953% 0.000000%
IIIO 0.000000 0.173958 0.000000 0.173958 0.000000 5.500000% 0.000000%
RII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donalson, Lufkin & Jenrette 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1997 FACTOR INFORMATI(800) 735-7777
</TABLE>
PAGE 4 OF 8
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 14,547,025.25 1,377,165.40 0.00 15,924,190.65
PERCENTAGE OF POOL BALANCE 8.67280% 0.82105% 0.00000% 9.49386%
NUMBER OF LOANS 245 22 0 267
PERCENTAGE OF POOL LOANS 8.70956% 0.78208% 0.00000% 9.49165%
Adj Group PRINCIPAL BALANCE 39,532,848.01 18,718,531.72 85,794.80 58,337,174.53
PERCENTAGE OF POOL BALANCE 14.48507% 6.85858% 0.03144% 21.37509%
NUMBER OF LOANS 409 135 2 546
PERCENTAGE OF POOL LOANS 15.04783% 4.96689% 0.07358% 20.08830%
FORECLOSURE LOAN INFORMATION
- ---------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 154,942.57 0.00 154,942.57
PERCENTAGE OF POOL BALANCE 0.00000% 0.09238% 0.00000% 0.09238%
NUMBER OF LOANS 0 2 0 2
PERCENTAGE OF POOL LOANS 0.00000% 0.07110% 0.00000% 0.07110%
Adj Group PRINCIPAL BALANCE 0.00 126,027.20 0.00 126,027.20
PERCENTAGE OF POOL BALANCE 0.00000% 0.04618% 0.00000% 0.04618%
NUMBER OF LOANS 0 2 0 2
PERCENTAGE OF POOL LOANS 0.00000% 0.07358% 0.00000% 0.07358%
REO LOAN INFORMATION
- ---------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
- ---------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
TOTAL
- ---------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
NUMBER OF LOANS 0
PERCENTAGE OF POOL LOANS 0.00000%
Adj Group PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
NUMBER OF LOANS 0
PERCENTAGE OF POOL LOANS 0.00000%
</TABLE>
PAGE 5 OF 8
<PAGE>
<TABLE>
<CAPTION>
= AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 89,529.97 97,296.02 186,825.99
PREPAYMENTS & CURTAILMENTS 343,082.98 1,653,323.58 1,996,406.56
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
PURCHASE ACCOUNT TERMINATION 430.48 2,684.18 3,114.66
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 433,043.43 1,753,303.78 2,186,347.21
SOURCES OF INTEREST
- ---------------------------------------------------------------------------------------------------------------------------------
SCHEDULED INTEREST 1,478,247.70 2,276,931.40 3,755,179.10
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER INTEREST 0.00 0.00 0.00
LESS: DELINQUENT INTEREST (618,456.28) (1,191,970.71) (1,810,426.99)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (41,633.47) (55,504.86) (97,138.33)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 590,021.36 1,133,028.92 1,723,050.28
PLUS: CAPITALIZED INTEREST AMOUNT 132,808.02 117,553.13 250,361.15
TOTAL INTEREST 1,540,987.33 2,280,037.88 3,821,025.21
PERMITTED WITHDRAWALS
- ---------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00
TOTAL SOURCES
- ---------------------------------------------------------------------------------------------------------------------------------
1,974,030.76 4,033,341.66 6,007,372.42
PURCHASE ACCOUNT TERMINATION (3,114.66)
CAPITALIZED INTEREST AMOUNT (250,361.15)
CLOSING DATE DEPOSIT (804,759.58)
TOTAL REMITTANCE DUE 4,949,137.03
</TABLE>
PAGE 6 OF 8
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
SERVICING FEES Fixed Group Adj Group Total
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 70,068.40 114,446.64 184,515.04
LESS: - AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: - DELINQUENT SERVICE FEES: (41,633.47) (55,504.86) (97,138.33)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 28,434.93 58,941.78 87,376.71
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- ---------------------------------------------------------------------------------------------------------------------------------
PRIOR PRINCIPAL BALANCE OF POOL: 168,164,152.83 274,671,941.26 442,836,094.09
CURRENT PRINCIPAL BALANCE OF POOL: 167,731,539.88 272,921,321.66 440,652,861.54
GROUP FACTOR 88.27976% 88.03914% 88.13057%
PRIOR NUMBER OF LOANS: 2,821 2,730 5,551
CURRENT NUMBER OF LOANS: 2,813 2,718 5,531
NUMBER OF LOANS PURCHASED FROM PURCHASE ACCOUNT 373 356 729
CURRENT PRINCIPAL BALANCE OF LOANS PURCHASED FROM PURCHASE ACCOUNT 21,835,417 35,325,375 57,160,791.25
NUMBER OF LOANS PAID IN FULL: 8 12 20
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.54861% 9.94757%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.54850% 9.94414%
WEIGHTED AVERAGE TERM TO MATURITY: 295 355
TRIGGER EVENTS Fixed Group Adj Group
- ---------------------------------------------------------------------------------------------------------------------------------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 0.94436% 6.93619%
SENIOR ENHANCEMENT PERCENTAGE 14.03198% 22.12514%
OVERCOLLATERALIZATION Fixed Group Adj Group
- ---------------------------------------------------------------------------------------------------------------------------------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 385,386.50 1,253,585.34
OVERCOLLATERALIZATION AMOUNT 385,386.50 1,253,585.34
TARGET OVERCOLLATERALIZATION AMOUNT 4,275,000.00 9,300,000.00
</TABLE>
PAGE 7 OF 8
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: July 15, 1997
INTEREST CARRY FORWARD AMOUNT Prior Current
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
CLASS A1 0.00 0.00
CLASS A2 0.00 0.00
CLASS A3 0.00 0.00
CLASS A4 0.00 0.00
CLASS A5 0.00 0.00
CLASS A6 0.00 0.00
CLASS AIO 0.00 0.00
CLASS M1F 0.00 0.00
CLASS M2F 0.00 0.00
CLASS B1F 0.00 0.00
CLASS A1A 0.00 0.00
CLASS M1A 0.00 0.00
CLASS M2A 0.00 0.00
CLASS B1A 0.00 0.00
</TABLE>
PAGE 8 OF 8
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