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========================================
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 17, 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) 210-5000
--------------------------------------------------
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
Dated: December 3, 1997
<PAGE 3>
INDEX TO EXHIBITS
EXHIBIT
- -------
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-C - Statement to Certificateholders
<PAGE 4>
EXHIBIT 20.1
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 63,000,000.00 61,479,639.92 323,767.15 1,932,925.44 2,256,692.59 0.00 0.00 59,546,714.48
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* 40,500,000.00 40,500,000.00 236,250.00 0.00 236,250.00 0.00 0.00 40,500,000.00
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 244,758,000.00 241,811,701.49 1,291,173.73 4,602,390.64 5,893,564.37 0.00 0.00 237,209,310.85
M1A 27,739,000.00 27,739,000.00 152,691.64 0.00 152,691.64 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 158,031.39 0.00 158,031.39 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 158,557.78 0.00 158,557.78 0.00 0.00 26,109,000.00
C 0.00 1,564,335.77 0.00 0.00 0.00 0.00 1,125,122.76 2,689,458.53
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS504,137,000.00 501,234,677.18 2,986,753.35 6,535,316.08 9,522,069.43 0.00 1,125,122.76 495,824,483.86
</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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CDC8 975.867300 5.139161 30.681356 35.820517 945.185944 5.745000% 5.870000%
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 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 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 987.962402 5.275308 18.803842 24.079149 969.158560 5.825000% 5.950000%
M1A 00253CDQ7 1,000.000000 5.504583 0.000000 5.504583 1,000.000000 6.005000% 6.130000%
M2A 00253CDR5 1,000.000000 5.697083 0.000000 5.697083 1,000.000000 6.215000% 6.340000%
B1A 00253CDS3 1,000.000000 6.072917 0.000000 6.072917 1,000.000000 6.625000% 6.750000%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
RIII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: November 17, 1997 FACTOR INFORMATION (800) 735-7777
* Notional Balance
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 9,000,000.00 9,000,000.00 77,019.16 0.00 77,019.16 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 115,528.74 0.00 115,528.74 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,509.58 0.00 38,509.58 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 115,528.74 0.00 115,528.74 0.00 0.00 13,500,000.00
IFB 137,292,995.45 136,129,405.07 1,164,952.49 1,647,685.54 2,812,638.03 0.00 0.00 134,481,719.53
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 177,792,995.45 176,629,405.07 1,511,538.71 1,647,685.54 3,159,224.25 0.00 0.00 174,981,719.53
</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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 1,000.000000 8.557684 0.000000 8.557684 1,000.000000 10.269221% 10.264670%
IFA2 1,000.000000 8.557684 0.000000 8.557684 1,000.000000 10.269221% 10.264670%
IFA3 1,000.000000 8.557684 0.000000 8.557684 1,000.000000 10.269221% 10.264670%
IFA4 1,000.000000 8.557684 0.000000 8.557684 1,000.000000 10.269221% 10.264670%
IFB 991.524765 8.485156 12.001235 20.486391 979.523530 10.269221% 10.264670%
RIF 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: November 17, 1997 FACTOR INFORMATION (800) 735-7777
* Notional Balance
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
IA 326,345,084.45 324,606,352.01 2,600,337.40 3,762,507.78 6,362,845.18 0.00 0.00 320,843,844.23
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 326,345,084.45 324,606,352.01 2,600,337.40 3,762,507.78 6,362,845.18 0.00 0.00 320,843,844.23
</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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
IA 994.672105 7.968061 11.529231 19.497291 983.142874 9.612889% 9.613551%
RIA 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: November 17, 1997 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 174,237,135.54 173,096,816.96 1,249,782.94 1,614,731.82 2,864,514.76 0.00 0.00 171,482,085.14
II1F 630,000.00 614,796.40 4,438.91 19,329.26 23,768.17 0.00 0.00 595,467.14
II2F 207,900.00 207,900.00 1,501.07 0.00 1,501.07 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,805.03 0.00 1,805.03 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 722.01 0.00 722.01 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 866.42 0.00 866.42 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,083.02 0.00 1,083.02 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 705.99 0.00 705.99 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 641.80 0.00 641.80 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 577.61 0.00 577.61 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 385.19 0.00 385.19 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,769,871.71 9,926.32 16,476.86 26,403.18 0.00 2,852.40 1,756,247.25
IIAA 319,818,182.76 318,114,224.96 2,548,330.65 3,687,257.62 6,235,588.27 0.00 0.00 314,426,967.34
II1A 2,447,580.00 2,418,117.02 19,370.91 46,023.91 65,394.82 0.00 0.00 2,372,093.11
II2A 277,390.00 277,390.00 2,222.10 0.00 2,222.10 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,222.10 0.00 2,222.10 0.00 0.00 277,390.00
II4A 261,090.00 261,090.00 2,091.52 0.00 2,091.52 0.00 0.00 261,090.00
IIMA 3,263,451.69 3,258,140.03 17,701.29 37,625.08 55,326.37 0.00 8,398.83 3,228,913.78
IIIO* 40,500,000.00 40,500,000.00 236,250.00 0.00 236,250.00 0.00 0.00 40,500,000.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 504,138,079.90 501,235,757.08 4,100,624.88 5,421,444.55 9,522,069.43 0.00 11,251.23 495,825,563.76
</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
<C> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 993.455364 7.172885 9.267438 16.440323 984.187926 8.664166% 8.644501%
II1F 975.867302 7.045889 30.681365 37.727254 945.185937 8.664166% 8.644501%
II2F 1,000.000000 7.220154 0.000000 7.220154 1,000.000000 8.664166% 8.644501%
II3F 1,000.000000 7.220120 0.000000 7.220120 1,000.000000 8.664166% 8.644501%
II4F 1,000.000000 7.220100 0.000000 7.220100 1,000.000000 8.664166% 8.644501%
II5F 1,000.000000 7.220167 0.000000 7.220167 1,000.000000 8.664166% 8.644501%
II6F 1,000.000000 7.220133 0.000000 7.220133 1,000.000000 8.664166% 8.644501%
II7F 1,000.000000 7.220188 0.000000 7.220188 1,000.000000 8.664166% 8.644501%
II8F 1,000.000000 7.220160 0.000000 7.220160 1,000.000000 8.664166% 8.644501%
II10F 1,000.000000 7.220056 0.000000 7.220056 1,000.000000 8.664166% 8.644501%
IIMF 995.462051 5.583046 9.267389 14.850434 987.798991 8.664166% 8.644501%
IIAA 994.672105 7.968061 11.529231 19.497291 983.142874 9.612889% 9.613551%
II1A 987.962404 7.914311 18.803843 26.718154 969.158561 9.612889% 9.613551%
II2A 1,000.000000 8.010743 0.000000 8.010743 1,000.000000 9.612889% 9.613551%
II3F 1,000.000000 8.010743 0.000000 8.010743 1,000.000000 9.612889% 9.613551%
II4F 1,000.000000 8.010724 0.000000 8.010724 1,000.000000 9.612889% 9.613551%
IIMA 998.372380 5.424101 11.529228 16.953329 989.416755 9.612889% 9.613551%
IIIO* 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
RII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: November 17, 1997 FACTOR INFORMATION: (800) 735-7777
* Notional Balance COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: November 17, 1997
<TABLE>
<CAPTION>
1 2 3+ TOTAL
DELINQUENT LOAN INFORMATION Payment Payments Payments
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 2,749,871.16 650,843.76 0.00 3,400,714.92
PERCENTAGE OF POOL BALANCE 1.57152% 0.37195% 0.00000% 1.94347%
NUMBER OF LOANS 58 10 0 68
PERCENTAGE OF POOL LOANS 1.91862% 0.33080% 0.00000% 2.24942%
Adj Group PRINCIPAL BALANCE 7,311,922.16 2,154,872.48 227,964.80 9,694,759.44
PERCENTAGE OF POOL BALANCE 2.27897% 0.67163% 0.07105% 3.02164%
NUMBER OF LOANS 85 29 6 120
PERCENTAGE OF POOL LOANS 2.44886% 0.83549% 0.17286% 3.45722%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 516,450.00 44,200.00 560,650.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.29515% 0.02526% 0.32040%
NUMBER OF LOANS 0 7 2 9
PERCENTAGE OF POOL LOANS 0.00000% 0.23156% 0.06616% 0.29772%
Adj Group PRINCIPAL BALANCE 547,919.48 832,632.38 746,419.47 2,126,971.33
PERCENTAGE OF POOL BALANCE 0.17077% 0.25951% 0.23264% 0.66293%
NUMBER OF LOANS 4 10 13 27
PERCENTAGE OF POOL LOANS 0.11524% 0.28810% 0.37453% 0.77787%
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 55,196.90 0.00 55,196.90
PERCENTAGE OF POOL BALANCE 0.00000% 0.03154% 0.00000% 0.03154%
NUMBER OF LOANS 0 1 0 1
PERCENTAGE OF POOL LOANS 0.00000% 0.03308% 0.00000% 0.03308%
Adj Group PRINCIPAL BALANCE 0.00 84,000.00 0.00 84,000.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.02618% 0.00000% 0.02618%
NUMBER OF LOANS 0 1 0 1
PERCENTAGE OF POOL LOANS 0.00000% 0.02881% 0.00000% 0.02881%
TOTAL
Fixed Group PRINCIPAL BALANCE 2,749,871.16 1,222,490.66 44,200.00 4,016,561.82
PERCENTAGE OF POOL BALANCE 1.57152% 0.69864% 0.02526% 2.29542%
NUMBER OF LOANS 58 18 2 78
PERCENTAGE OF POOL LOANS 1.91862% 0.59543% 0.06616% 2.58022%
Adj Group PRINCIPAL BALANCE 7,859,841.64 3,071,504.86 974,384.27 11,905,730.77
PERCENTAGE OF POOL BALANCE 2.44974% 0.95732% 0.30369% 3.71076%
NUMBER OF LOANS 89 40 19 148
PERCENTAGE OF POOL LOANS 2.56410% 1.15241% 0.54739% 4.26390%
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: November 17, 1997
COLLECTION ACCOUNT INFORMATION
<TABLE>
<CAPTION>
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 239,615.89 187,398.25 427,014.14
PREPAYMENTS & CURTAILMENTS 1,408,069.65 3,575,109.53 4,983,179.18
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
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 1,647,685.54 3,762,507.78 5,410,193.32
SOURCES OF INTEREST
SCHEDULED INTEREST 1,585,134.30 2,735,590.05 4,320,724.35
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 (179,780.70) (394,286.32) (574,067.02)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (65,879.70) (117,504.76) (183,384.46)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 172,064.81 376,538.43 548,603.24
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,511,538.71 2,600,337.40 4,111,876.11
PERMITTED WITHDRAWALS 0.00 0.00 0.00
TOTAL SOURCES 3,159,224.25 6,362,845.18 9,522,069.43
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 9,522,069.43
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: November 17, 1997
<TABLE>
<CAPTION>
<S>
SERVICING FEES Fixed Group Adj Group Total
<C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 73,595.59 135,252.65 208,848.24
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (7,715.88) (17,747.89) (25,463.77)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 65,879.71 117,504.76 183,384.47
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
PRIOR PRINCIPAL BALANCE OF POOL: 176,629,405.07 324,606,352.01 501,235,757.08
CURRENT PRINCIPAL BALANCE OF POOL: 174,981,719.53 320,843,844.23 495,825,563.76
GROUP FACTOR 98.41879% 98.31429% 98.35114%
PRIOR NUMBER OF LOANS: 3,052 3,504 6,556
CURRENT NUMBER OF LOANS: 3,023 3,471 6,494
NUMBER OF LOANS PURCHASED FROM Mortgage Replacement 0 0 0
CURRENT PRINCIPAL BAL. OF LOANS PURCHASED FROM Mortgage Replac 0 0 0.00
NUMBER OF LOANS PAID IN FULL: 29 33 62
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.76922% 10.11289%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.76467% 10.11355%
WEIGHTED AVERAGE TERM TO MATURITY: 285 354
TRIGGER EVENTS Fixed Group Adj Group
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 1.25394% 1.71255%
SENIOR ENHANCEMENT PERCENTAGE 18.49323% 25.80528%
OVERCOLLATERALIZATION Fixed Group Adj Group
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 285,239.90 839,882.86
OVERCOLLATERALIZATION AMOUNT 643,005.05 2,047,533.38
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: November 17, 1997
<TABLE>
<CAPTION>
INTEREST CARRY FORWARD AMOUNT Prior Current
<C> <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
COPYRIGHT 1997 Bankers Trust Company
</TABLE>
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