====================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
OCTOBER 15, 1997
AAMES CAPITAL CORPORATION
=========================================
(Exact name of Registrant as specified in its charter)
CALIFORNIA 333-10185 AND 333-21219 95-4438859
======================== ======================= ==================
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file numbers) identification no.)
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 1997-C - Statement to Certificateholders
<PAGE 2>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
AAMES CAPITAL CORPORATION
By:/S/ MARK E. ELBAUM
===========================
Mark E. Elbaum
Senior Vice President - Finance and
Chief Accounting Officer
Dated: October 27, 1997
<PAGE 3>
INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION OF EXHIBIT
=========== ======================
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-C - Statement to
Certificateholders
<PAGE 4>
EXHIBIT 20.1
<PAGE 5>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-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>
A1F 63,000,000.00 63,000,000.00 262,819.38 1,520,360.08 1,783,179.46 0.00 0.00 61,479,639.92
A2F 20,790,000.00 20,790,000.00 112,872.38 0.00 112,872.38 0.00 0.00 20,790,000.00
A3F 25,000,000.00 25,000,000.00 137,395.83 0.00 137,395.83 0.00 0.00 25,000,000.00
A4F 10,000,000.00 10,000,000.00 57,458.33 0.00 57,458.33 0.00 0.00 10,000,000.00
A5F 12,000,000.00 12,000,000.00 72,550.00 0.00 72,550.00 0.00 0.00 12,000,000.00
A6F 15,000,000.00 15,000,000.00 86,125.00 0.00 86,125.00 0.00 0.00 15,000,000.00
AIO 0.00 0.00 236,250.00 0.00 236,250.00 0.00 0.00 0.00
M1F 9,778,000.00 9,778,000.00 58,016.13 0.00 58,016.13 0.00 0.00 9,778,000.00
M2F 8,889,000.00 8,889,000.00 54,185.86 0.00 54,185.86 0.00 0.00 8,889,000.00
BF1 8,000,000.00 8,000,000.00 51,000.00 0.00 51,000.00 0.00 0.00 8,000,000.00
BF2 5,335,000.00 5,335,000.00 36,678.13 0.00 36,678.13 0.00 0.00 5,335,000.00
A1A 244,758,000.00 244,758,000.00 1,035,207.36 2,946,298.51 3,981,505.87 0.00 0.00 241,811,701.49
M1A 27,739,000.00 27,739,000.00 120,928.56 0.00 120,928.56 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 125,135.64 0.00 125,135.64 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 125,513.58 0.00 125,513.58 0.00 0.00 26,109,000.00
C 0.00 0.00 0.00 0.00 0.00 0.00 1,564,335.77 1,564,335.77
RIII 0 0 0 0 0 0 0 0
TOTALS 504,137,000.00 504,137,000.00 2,572,136.18 4,466,658.59 7,038,794.77 0.00 1,564,335.77 501,234,677.18
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CDC8 1,000.000000 4.171736 24.132700 28.304436 975.867300 5.776250% 5.745000%
A2F 00253CDD6 1,000.000000 5.429167 0.000000 5.429167 1,000.000000 6.515000% 6.515000%
A3F 00253CDE4 1,000.000000 5.495833 0.000000 5.495833 1,000.000000 6.595000% 6.595000%
A4F 00253CDF1 1,000.000000 5.745833 0.000000 5.745833 1,000.000000 6.895000% 6.895000%
A5F 00253CDG9 1,000.000000 6.045833 0.000000 6.045833 1,000.000000 7.255000% 7.255000%
A6F 00253CDH7 1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000% 6.890000%
AIO 00253CDJ3 0.000000 0.468623 0.000000 0.468623 0.000000 7.000000% 7.000000%
M1F 00253CDK0 1,000.000000 5.933333 0.000000 5.933333 1,000.000000 7.120000% 7.120000%
M2F 00253CDL8 1,000.000000 6.095833 0.000000 6.095833 1,000.000000 7.315000% 7.315000%
BF1 00253CDM6 1,000.000000 6.375000 0.000000 6.375000 1,000.000000 7.650000% 7.650000%
BF2 00253CDT1 1,000.000000 6.875001 0.000000 6.875001 1,000.000000 8.250000% 8.250000%
A1A 00253CDN4 1,000.000000 4.229514 12.037598 16.267112 987.962402 5.856250% 5.825000%
M1A 00253CDQ7 1,000.000000 4.359514 0.000000 4.359514 1,000.000000 6.036250% 6.005000%
M2A 00253CDR5 1,000.000000 4.511181 0.000000 4.511181 1,000.000000 6.246250% 6.215000%
B1A 00253CDS3 1000 4.807291738 0 4.807291738 1000 0.0665625 0.06625
C 0 0 0 0 0 0 0
RIII 0 0 0 0 0 0 0
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donalson, Lufkin & Jenrette 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: October 15, 1997 FACTOR INFORMATION (800) 735-7777
</TABLE>
<TABLE>
<CAPTION>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
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>
IFA1 9,000,000.00 9,000,000.00 77,050.77 0.00 77,050.77 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 115,576.15 0.00 115,576.15 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,525.38 0.00 38,525.38 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 115,576.15 0.00 115,576.15 0.00 0.00 13,500,000.00
IFB 137,292,995.45 137,292,995.45 1,175,392.29 1,163,590.38 2,338,982.67 0.00 0.00 136,129,405.07
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 177,792,995.45 177,792,995.45 1,522,120.74 1,163,590.38 2,685,711.12 0.00 0.00 176,629,405.07
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
IFA1 1,000.000000 8.561197 0.000000 8.561197 1,000.000000 10.273436% 10.269221%
IFA2 1,000.000000 8.561196 0.000000 8.561196 1,000.000000 10.273436% 10.269221%
IFA3 1,000.000000 8.561196 0.000000 8.561196 1,000.000000 10.273436% 10.269221%
IFA4 1,000.000000 8.561196 0.000000 8.561196 1,000.000000 10.273436% 10.269221%
IFB 1,000.000000 8.561196 8.475235 17.036431 991.524765 10.273436% 10.269221%
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: September 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: October 15, 1997 FACTOR INFORMATION (800) 735-7777
</TABLE>
Page 2 of 8
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-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>
IA 326,345,084.45 326,345,084.45 2,614,351.21 1,738,732.44 4,353,083.65 0.00 0.00 324,606,352.01
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 326,345,084.45 326,345,084.45 2,614,351.21 1,738,732.44 4,353,083.65 0.00 0.00 324,606,352.01
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
IA 1,000.000000 8.011002 5.327895 13.338898 994.672105 9.613203% 9.610893%
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: September 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: October 15, 1997 FACTOR INFORMATION (800) 735-7777
</TABLE>
Page 3 of 8
<PAGE>
<TABLE>
<CAPTION>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS ACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 174,237,135.54 174,237,135.54 1,260,153.33 1,140,318.58 2,400,471.91 0.00 0.00 173,096,816.96
II1F 630,000.00 630,000.00 4,556.41 15,203.60 19,760.01 0.00 0.00 614,796.40
II2F 207,900.00 207,900.00 1,503.62 0.00 1,503.62 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,808.10 0.00 1,808.10 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 723.24 0.00 723.24 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 867.89 0.00 867.89 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,084.86 0.00 1,084.86 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 707.18 0.00 707.18 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 642.89 0.00 642.89 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 578.59 0.00 578.59 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 385.85 0.00 385.85 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,777,939.91 9,291.08 11,635.90 20,926.98 0.00 3,567.70 1,769,871.71
IIAA 319,818,182.76 319,818,182.76 2,562,064.19 1,703,957.80 4,266,021.99 0.00 0.00 318,114,224.96
II1A 2,447,580.00 2,447,580.00 19,607.57 29,462.98 49,070.55 0.00 0.00 2,418,117.02
II2A 277,390.00 277,390.00 2,222.17 0.00 2,222.17 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,222.17 0.00 2,222.17 0.00 0.00 277,390.00
II4A 261090 261090 2091.59 0 2091.59 0 0 261090
IIMA 3263451.69 3263451.69 14067.86 17387.32 31455.18 0 12075.66 3258140.03
IIIO 0 0 236250 0 236250 0 0 0
RII 0 0 0 0 0 0 0 0
TOTALS 504,138,079.90 504,138,079.90 4,120,828.59 2,917,966.18 7,038,794.77 0.00 15,643.36 501,235,757.08
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
IIAF 1,000.000000 7.232404 6.544636 13.777040 993.455364 8.678885% 8.664166%
II1F 1,000.000000 7.232397 24.132698 31.365095 975.867302 8.678885% 8.664166%
II2F 1,000.000000 7.232419 0.000000 7.232419 1,000.000000 8.678885% 8.664166%
II3F 1,000.000000 7.232400 0.000000 7.232400 1,000.000000 8.678885% 8.664166%
II4F 1,000.000000 7.232400 0.000000 7.232400 1,000.000000 8.678885% 8.664166%
II5F 1,000.000000 7.232417 0.000000 7.232417 1,000.000000 8.678885% 8.664166%
II6F 1,000.000000 7.232400 0.000000 7.232400 1,000.000000 8.678885% 8.664166%
II7F 1,000.000000 7.232358 0.000000 7.232358 1,000.000000 8.678885% 8.664166%
II8F 1,000.000000 7.232422 0.000000 7.232422 1,000.000000 8.678885% 8.664166%
II10F 1,000.000000 7.232427 0.000000 7.232427 1,000.000000 8.678885% 8.664166%
IIMF 1,000.000000 5.225756 6.544597 11.770353 995.462051 8.678885% 8.664166%
IIAA 1,000.000000 8.011002 5.327895 13.338898 994.672105 9.613203% 9.610893%
II1A 1,000.000000 8.011003 12.037596 20.048599 987.962404 9.613203% 9.610893%
II2A 1,000.000000 8.010995 0.000000 8.010995 1,000.000000 9.613203% 9.610893%
II3A 1000 8.01099535 0 8.01099535 1000 0.096132027 0.09610893
II4A 1000 8.010992378 0 8.010992378 1000 0.096132027 0.09610893
IIMA 1000 4.310730275 5.327892566 9.638622841 998.3723798 0.096132027 0.09610893
IIIO 0 0.468621613 0 0.468621613 0 0.07 0.07
RII 0 0 0 0 0 0 0
SELLER: Aames Capital Corporation ADMINISTRATOR: Whitney Iger
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donalson, Lufkin & Jenrette 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: October 15, 1997 FACTOR INFORMATION (800) 735-7777
</TABLE>
Page 4 of 8
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: October 15, 1997
<TABLE>
<CAPTION>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 12,133,616.59 3,013,545.61 137,479.72 15,284,641.92
PERCENTAGE OF POOL BALANCE 6.86953% 1.70614% 0.07784% 8.65351%
NUMBER OF LOANS 222 46 5 273
PERCENTAGE OF POOL LOANS 7.27392% 1.50721% 0.16383% 8.94495%
Adj Group PRINCIPAL BALANCE 28,443,811.26 5,706,772.36 945,526.81 35,096,110.43
PERCENTAGE OF POOL BALANCE 8.76256% 1.75806% 0.29128% 10.81190%
NUMBER OF LOANS 316 67 16 399
PERCENTAGE OF POOL LOANS 9.01826% 1.91210% 0.45662% 11.38699%
FORECLOSURE 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 0.00 372,469.86 372,469.86
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.11475% 0.11475%
NUMBER OF LOANS 0 0 7 7
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.19977% 0.19977%
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 55,180.98 0.00 0.00 55,180.98
PERCENTAGE OF POOL BALANCE 0.03124% 0.00000% 0.00000% 0.03124%
NUMBER OF LOANS 1 0 0 1
PERCENTAGE OF POOL LOANS 0.03277% 0.00000% 0.00000% 0.03277%
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 12,188,797.57 3,013,545.61 137,479.72 15,339,822.90
PERCENTAGE OF POOL BALANCE 6.90077% 1.70614% 0.07784% 8.68475%
NUMBER OF LOANS 223 46 5 274
PERCENTAGE OF POOL LOANS 7.30668% 1.50721% 0.16383% 8.97772%
Adj Group PRINCIPAL BALANCE 28,443,811.26 5,706,772.36 1,317,996.67 35,468,580.29
PERCENTAGE OF POOL BALANCE 8.76256% 1.75806% 0.40603% 10.92664%
NUMBER OF LOANS 316 67 23 406
PERCENTAGE OF POOL LOANS 9.01826% 1.91210% 0.65639% 11.58676%
</TABLE>
Page 5 of 8
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: October 15, 1997
<TABLE>
<CAPTION>
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 175,318.40 148,502.43 323,820.83
PREPAYMENTS & CURTAILMENTS 987,989.00 1,588,899.19 2,576,888.19
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
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT 282.98 1,330.82 1,613.80
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 1,163,590.38 1,738,732.44 2,902,322.82
SOURCES OF INTEREST
- --------------------------------------------------------------------------------------------------------------------------------
SCHEDULED INTEREST 1,596,201.04 2,750,327.78 4,346,528.82
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 (1,252,636.93) (2,258,663.66) (3,511,300.59)
LESS: PPIS (322.46) (472.84) (795.30)
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (16,268.16) (25,334.62) (41,602.78)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 322.46 472.84 795.30
PLUS: INTEREST ADVANCED AMOUNT 1,194,824.79 2,148,021.71 3,342,846.50
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,522,120.74 2,614,351.21 4,136,471.95
PERMITTED WITHDRAWALS 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL SOURCES 2,685,711.12 4,353,083.65 7,038,794.77
- --------------------------------------------------------------------------------------------------------------------------------
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 7,038,794.77
</TABLE>
Page 6 of 8
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: October 15, 1997
<TABLE>
<CAPTION>
SERVICING FEES Fixed Group Adj Group Total
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 74,080.30 135,976.56 210,056.86
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 322.46 472.84 795.30
LESS: DELINQUENT SERVICE FEES: (16,268.16) (25,334.62) (41,602.78)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 58,134.60 111,114.78 169,249.38
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- -------------------------------------------------------------------------------------------------------------------------------
PRIOR PRINCIPAL BALANCE OF POOL: 177,792,712.47 326,343,753.63 504,136,466.10
CURRENT PRINCIPAL BALANCE OF POOL: 176,629,405.07 324,606,352.01 501,235,757.08
GROUP FACTOR 99.34554% 99.46721% 99.42430%
PRIOR NUMBER OF LOANS: 3,068 3,519 6,587
CURRENT NUMBER OF LOANS: 3,052 3,504 6,556
NUMBER OF LOANS PURCHASED FROM Mortgage Replacement 0 0 0
CURRENT PRINCIPAL BAL. OF LOANS PURCHASED FROM Mortgage Replacement 0 0 0.00
NUMBER OF LOANS PAID IN FULL: 16 15 31
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.77345% 10.11324%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.76922% 10.11089%
WEIGHTED AVERAGE TERM TO MATURITY: 286 355
TRIGGER EVENTS Fixed Group Adj Group
- ---------------------------------------------------------------------------------------------------------------------------------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 1.78398% 2.16409%
SENIOR ENHANCEMENT PERCENTAGE 18.11873% 25.13416%
OVERCOLLATERALIZATION Fixed Group Adj Group
- ----------------------------------------------------------------------------------------------------------------------------------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 356,769.70 1,207,566.07
OVERCOLLATERALIZATION AMOUNT 357,765.15 1,207,650.52
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
</TABLE>
Page 7 of 8
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: October 15, 1997
<TABLE>
<CAPTION>
INTEREST CARRY FORWARD AMOUNT Prior Current
<S> <C> <C>
- --------------------------------------------------------------------------------------------------------------------------------
CLASS A1F 0.00 0.00
CLASS A2F 0.00 0.00
CLASS A3F 0.00 0.00
CLASS A4F 0.00 0.00
CLASS A5F 0.00 0.00
CLASS A6F 0.00 0.00
CLASS AIO 0.00 0.00
CLASS M1F 0.00 0.00
CLASS M2F 0.00 0.00
CLASS BF1 0.00 0.00
CLASS BF2 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
<PAGE>
