AAMES CAPITAL CORP
8-K, 1997-03-19
ASSET-BACKED SECURITIES
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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, DC  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):
                                 March 18, 1997


       Aames Capital Corporation on behalf of Aames Mortgage Trust 1997-A     
    ------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)




           California                    333-21219               95-4438859    
- --------------------------------       -------------         -------------------
    (State of Incorporation)            (Commission           (I.R.S. Employer
                                        File Number)         Identification No.)
                                   
                                   
                                   
   3731 Wilshire Boulevard                                     90010       
   Los Angeles, California                              -------------------
- -----------------------------                                (Zip Code)
    (Address of Principal                                              
      Executive Offices)           
                                   

      Registrant's telephone number, including area code:  (213) 351-6100

                                   No Change                                 
             ------------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)



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         The sole purpose of this Current Report on Form 8-K is to file the
consent of Coopers & Lybrand L.L.P., independent accountants to MBIA Insurance
Corporation.  MBIA Insurance Corporation will act as the Certificate Insurer in
connection with the proposed offering of the Aames Mortgage Trust 1997-A
Mortgage Pass-Through Certificates, Series 1997-A.

         Item 7.  Financial Statements; Pro Forma Financial Information and
                  Exhibits.

         (a)     Not applicable.

         (b)     Not applicable.

         (c)     Exhibits:

                 23.1             Consent of Coopers & Lybrand L.L.P.
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                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                     AAMES CAPITAL CORPORATION
                                     
                                     
                                     By: /s/ Mark E. Elbaum                    
                                         --------------------------------------
                                             Mark E. Elbaum
                                             Senior Vice President - Finance
                                           
                                           
Dated:  March 18, 1997


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                       CONSENT OF INDEPENDENT ACCOUNTANTS


We consent to the incorporation by reference in the Prospectus Supplement dated
March 18, 1997 (to Prospectus dated March 18, 1997) of Aames Capital
Corporation relating to the Mortgage Pass-Through Certificates, Series 1997-A
of Aames Mortgage Trust 1997-A, of our report dated January 22, 1996, on our
audits of the consolidated financial statements of MBIA Insurance Corporation
and Subsidiaries as of December 31, 1995 and 1994 and for the three years ended
December 31, 1995.  We also consent to the reference to our Firm under the
caption "Report of Experts".



                                                   /s/ Coopers & Lybrand L.L.P.


March 18, 1997
New York, New York



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