==========================
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)
April 15, 1998
Aames Capital Corporation
-------------------------------
(Exact name of Registrant as specified in its charter)
CALIFORNIA 333-10185 AND 333-2121 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
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-D Statement to Certificateholders
20.3 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1998-A Statement to Certificateholders
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
AAMES CAPITAL CORPORATION
By:/S/ MARK E. ELBAUM
---------------------------
Mark E. Elbaum
Senior Vice President - Finance
Dated: April 27, 1998
<PAGE>
INDEX TO EXHIBITS
EXHIBIT
- -------
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-C - Statement to Certificateholders
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-D Statement to Certificateholders
20.3 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1998-A Statement to Certificateholders
EXHIBIT 20.1
<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>
A1F 63,000,000.00 51,274,060.16 248,145.09 3,864,614.89 4,112,759.98 0.00 0.00 47,409,445.27
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 244,758,000.00 217,704,795.46 1,068,114.15 6,650,096.52 7,718,210.67 0.00 0.00 211,054,698.94
M1A 27,739,000.00 27,739,000.00 140,255.32 0.00 140,255.32 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 145,109.64 0.00 145,109.64 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 145,503.28 0.00 145,503.28 0.00 0.00 26,109,000.00
C 0.00 7,754,624.26 0.00 0.00 0.00 0.00 1,267,070.80 9,021,695.06
RII 0 0 0 0 0 0 0 0
TOTAL 504,137,000.00 473,112,479.88 2,649,659.14 10,514,711.41 13,164,370.55 0.00 1,267,070.80 463,864,839.27
</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>
A1F 00253CDC8 813.873971 3.938811 61.343093 65.281904 752.530877 5.807500% 5.807500%
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 889.469580 4.363960 27.170088 31.534049 862.299491 5.887500% 5.887500%
M1A 00253CDQ7 1,000.000000 5.056250 0.000000 5.056250 1,000.000000 6.067500% 6.067500%
M2A 0253CDR5 1,000.000000 5.231250 0.000000 5.231250 1,000.000000 6.277500% 6.277500%
B1A 00253CDS3 1000 6 0 6 1000 0 0
C 0 0 0 0 0 0 0
RIII 0 0 0 0 0 0 0
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 1 of 8
COPYRIGHT 1998 Bankers Trust Company
<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>
IFA 9,000,000.00 9,000,000.00 76,845.12 0.00 76,845.12 0.00 0.00 9,000,000.00
IFA 13,500,000.00 13,500,000.00 115,267.67 0.00 115,267.67 0.00 0.00 13,500,000.00
IFA 4,500,000.00 4,500,000.00 38,422.56 0.00 38,422.56 0.00 0.00 4,500,000.00
IFA 13,500,000.00 13,500,000.00 115,267.67 0.00 115,267.67 0.00 0.00 13,500,000.00
IFB 137,292,995.45 127,395,430.77 1,087,746.28 3,581,742.34 4,669,488.62 0.00 0.00 123,813,688.43
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 177,792,995.45 167,895,430.77 1,433,549.30 3,581,742.34 5,015,291.64 0.00 0.00 164,313,688.43
</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 8.538347 0.000000 8.538347 1,000.000000 10.246015% 10.233586%
IFA2 1,000.000000 8.538346 0.000000 8.538346 1,000.000000 10.246015% 10.233586%
IFA3 1,000.000000 8.538347 0.000000 8.538347 1,000.000000 10.246015% 10.233586%
IFA4 1,000.000000 8.538346 0.000000 8.538346 1,000.000000 10.246015% 10.233586%
IFB 927.909180 7.922810 26.088311 34.011121 901.820869 10.246015% 10.233586%
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: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 2 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
<PAGE>
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 326,345,084.45 305,218,129.01 2,483,180.64 5,665,898.27 8,149,078.91 0.00 0.00 299,552,230.74
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 326,345,084.45 305,218,129.01 2,483,180.64 5,665,898.27 8,149,078.91 0.00 0.00 299,552,230.74
</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 935.261916 7.609064 17.361678 24.970742 917.900238 9.762909% 9.759151%
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: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATIO(800) 735-7777
</TABLE>
* Notional Balance
Page 3 of 8
COPYRIGHT 1998 Bankers Trust Company
<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>
IIA 174,237,135.54 164,537,522.18 1,173,353.32 3,510,107.50 4,683,460.82 0.00 0.00 161,027,414.68
II1 630,000.00 512,740.59 3,656.47 38,646.15 42,302.62 0.00 0.00 474,094.44
II2 207,900.00 207,900.00 1,482.58 0.00 1,482.58 0.00 0.00 207,900.00
II3 250,000.00 250,000.00 1,782.81 0.00 1,782.81 0.00 0.00 250,000.00
II4 100,000.00 100,000.00 713.12 0.00 713.12 0.00 0.00 100,000.00
II5 120,000.00 120,000.00 855.75 0.00 855.75 0.00 0.00 120,000.00
II6 150,000.00 150,000.00 1,069.68 0.00 1,069.68 0.00 0.00 150,000.00
II7 97,780.00 97,780.00 697.29 0.00 697.29 0.00 0.00 97,780.00
II8 88,890.00 88,890.00 633.89 0.00 633.89 0.00 0.00 88,890.00
II9 80,000.00 80,000.00 570.50 0.00 570.50 0.00 0.00 80,000.00
II1 53,350.00 53,350.00 380.45 0.00 380.45 0.00 0.00 53,350.00
IIM 1,777,939.91 1,697,248.00 9,274.72 35,817.42 45,092.14 0.00 2,828.73 1,664,259.31
IIA 319,818,182.76 299,113,766.42 2,433,517.02 5,552,580.31 7,986,097.33 0.00 0.00 293,561,186.11
II1 2,447,580.00 2,177,047.97 17,711.93 66,500.96 84,212.89 0.00 0.00 2,110,547.01
II2 277,390.00 277,390.00 2,256.78 0.00 2,256.78 0.00 0.00 277,390.00
II3 277,390.00 277,390.00 2,256.78 0.00 2,256.78 0.00 0.00 277,390.00
II4 261090.00 261090.00 2124.16 0.00 2124.16 0.00 0.00 261090.00
IIM 3263451.69 3111444.62 15471.98 56658.98 72130.96 0.00 9841.98 3064627.62
III 40500000.00 40500000.00 236250.00 0.00 236250.00 0.00 0.00 40500000.00
RII 0 0 0 0 0 0 0 0
TOTAL 504,138,079.90 473,113,559.78 3,904,059.23 9,260,311.32 13,164,370.55 0.00 12,670.71 463,865,919.17
</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 944.330964 6.734232 20.145576 26.879808 924.185388 8.557464% 8.508227%
II1F 813.873952 5.803921 61.343095 67.147016 752.530857 8.557464% 8.508227%
II2F 1,000.000000 7.131217 0.000000 7.131217 1,000.000000 8.557464% 8.508227%
II3F 1,000.000000 7.131240 0.000000 7.131240 1,000.000000 8.557464% 8.508227%
II4F 1,000.000000 7.131200 0.000000 7.131200 1,000.000000 8.557464% 8.508227%
II5F 1,000.000000 7.131250 0.000000 7.131250 1,000.000000 8.557464% 8.508227%
II6F 1,000.000000 7.131200 0.000000 7.131200 1,000.000000 8.557464% 8.508227%
II7F 1,000.000000 7.131213 0.000000 7.131213 1,000.000000 8.557464% 8.508227%
II8F 1,000.000000 7.131173 0.000000 7.131173 1,000.000000 8.557464% 8.508227%
II10F 1,000.000000 7.131209 0.000000 7.131209 1,000.000000 8.557464% 8.508227%
IIMF 954.614940 5.216554 20.145461 25.362016 936.060494 8.557464% 8.508227%
IIAA 935.261916 7.609064 17.361678 24.970742 917.900238 9.762909% 9.759151%
II1A 889.469586 7.236507 27.170086 34.406593 862.299500 9.762909% 9.759151%
II2A 1,000.000000 8.135766 0.000000 8.135766 1,000.000000 9.762909% 9.759151%
II3A 1000 8.135765529 0 8.135765529 1000 0.097629088 0.097591514
II4A 1000 8.135738634 0 8.135738634 1000 0.097629088 0.097591514
IIMA 953.4213819 4.740986376 17.36167267 22.10265904 939.0755283 0.097629088 0.097591514
IIIO* 1000 5.833333333 0 5.833333333 1000 0.07 0.07
RII 0 0 0 0 0 0 0
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 4 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
FixedPRINCIPAL BALANCE 6,460,568.56 772,523.20 426,045.80 7,659,137.56
PERCENTAGE OF POOL BALANCE 3.93185% 0.47015% 0.25929% 4.66129%
NUMBER OF LOANS 112 17 8 137
PERCENTAGE OF POOL LOANS 3.93950% 0.59796% 0.28139% 4.81885%
Adj GPRINCIPAL BALANCE 13,811,156.96 1,986,571.35 1,096,252.29 16,893,980.60
PERCENTAGE OF POOL BALANCE 4.61060% 0.66318% 0.36596% 5.63974%
NUMBER OF LOANS 144 21 11 176
PERCENTAGE OF POOL LOANS 4.42396% 0.64516% 0.33794% 5.40707%
FORECLOSURE LOAN INFORMATION
FixedPRINCIPAL BALANCE 0.00 949,402.59 5,625,485.01 6,574,887.60
PERCENTAGE OF POOL BALANCE 0.00000% 0.57780% 3.42363% 4.00142%
NUMBER OF LOANS 0 15 95 110
PERCENTAGE OF POOL LOANS 0.00000% 0.52761% 3.34154% 3.86915%
Adj GPRINCIPAL BALANCE 190,158.25 1,537,922.30 17,458,913.85 19,186,994.40
PERCENTAGE OF POOL BALANCE 0.06348% 0.51341% 5.82834% 6.40523%
NUMBER OF LOANS 2 21 210 233
PERCENTAGE OF POOL LOANS 0.06144% 0.64516% 6.45161% 7.15822%
REO LOAN INFORMATION
FixedPRINCIPAL BALANCE 0.00 0.00 99,471.59 99,471.59
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.06054% 0.06054%
NUMBER OF LOANS 0 0 2 2
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.07035% 0.07035%
Adj GPRINCIPAL 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%
BANKRUPTCY LOAN INFORMATION
FixedPRINCIPAL BALANCE 154,129.88 9,914.31 68,762.17 232,806.36
PERCENTAGE OF POOL BALANCE 0.09380% 0.00603% 0.04185% 0.14168%
NUMBER OF LOANS 2 1 2 5
PERCENTAGE OF POOL LOANS 0.07035% 0.03517% 0.07035% 0.17587%
Adj GPRINCIPAL BALANCE 325,530.66 187,514.71 446,465.51 959,510.88
PERCENTAGE OF POOL BALANCE 0.10867% 0.06260% 0.14904% 0.32032%
NUMBER OF LOANS 4 2 5 11
PERCENTAGE OF POOL LOANS 0.12289% 0.06144% 0.15361% 0.33794%
TOTAL
FixedPRINCIPAL BALANCE 6,614,698.44 1,731,840.10 6,219,764.57 14,566,303.11
PERCENTAGE OF POOL BALANCE 4.02565% 1.05398% 3.78530% 8.86494%
NUMBER OF LOANS 114 33 107 254
PERCENTAGE OF POOL LOANS 4.00985% 1.16075% 3.76363% 8.93422%
Adj GPRINCIPAL BALANCE 14,326,845.87 3,712,008.36 19,001,631.65 37,040,485.88
PERCENTAGE OF POOL BALANCE 4.78275% 1.23919% 6.34335% 12.36528%
NUMBER OF LOANS 150 44 226 420
PERCENTAGE OF POOL LOANS 4.60829% 1.35177% 6.94316% 12.90323%
</TABLE>
Page 5 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 257,629.45 655,848.37 913,477.82
PREPAYMENTS & CURTAILMENTS 3,324,112.89 5,010,049.90 8,334,162.79
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 3,581,742.34 5,665,898.27 9,247,640.61
SOURCES OF INTEREST
SCHEDULED INTEREST 1,503,505.73 2,610,354.86 4,113,860.59
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 (317,681.93) (701,000.90) (1,018,682.83)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (56,165.93) (94,970.55) (151,136.48)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 303,891.43 668,797.23 972,688.66
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,433,549.30 2,483,180.64 3,916,729.94
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
5,015,291.64 8,149,078.91 13,164,370.55
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 13,164,370.55
</TABLE>
Page 6 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
SERVICING FEES Fixed Group Adj Group Total
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 69,956.43 127,174.22 197,130.65
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (13,790.50) (32,203.67) (45,994.17)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 56,165.93 94,970.55 151,136.48
AMOUNT PER $1000 CERTIFICATE:
</TABLE>
<TABLE>
<CAPTION>
POOL INFORMATION Fixed Group Adj Group Total
<S> <C> <C> <C>
PRIOR PRINCIPAL BALANCE OF POOL: 167,895,430.79 305,218,129.01 473,113,559.80
CURRENT PRINCIPAL BALANCE OF POOL: 164,313,688.45 299,552,230.74 463,865,919.19
GROUP FACTOR 92.41854% 91.79002% 92.01168%
PRIOR NUMBER OF LOANS: 2,903 3,308 6,211
CURRENT NUMBER OF LOANS: 2,843 3,255 6,098
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: 60 53 113
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.74602% 10.26291%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.73359% 10.25915%
WEIGHTED AVERAGE TERM TO MATURITY: 280 349
</TABLE>
<TABLE>
<CAPTION>
TRIGGER EVENTS Fixed Group Adj Group
<S> <C> <C>
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 4.31856% 6.91526%
SENIOR ENHANCEMENT PERCENTAGE 20.58950% 29.21472%
</TABLE>
<TABLE>
<CAPTION>
OVERCOLLATERALIZATION Fixed Group Adj Group
<S> <C> <C>
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 282,872.55 984,198.25
OVERCOLLATERALIZATION AMOUNT 2,112,243.18 6,910,531.80
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
</TABLE>
Page 7 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: April 15, 1998
<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
COPYRIGHT 1998 Bankers Trust Company
EXHIBIT 20.2
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
<TABLE>
<CAPTION>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 74,381,000.00 68,991,225.83 335,901.03 3,464,561.04 3,800,462.07 0.00 0.00 65,526,664.79
A2F 27,197,000.00 27,197,000.00 148,450.29 0.00 148,450.29 0.00 0.00 27,197,000.00
A3F 35,234,000.00 35,234,000.00 193,493.38 0.00 193,493.38 0.00 0.00 35,234,000.00
A4F 14,483,000.00 14,483,000.00 82,070.33 0.00 82,070.33 0.00 0.00 14,483,000.00
A5F 15,605,000.00 15,605,000.00 93,760.04 0.00 93,760.04 0.00 0.00 15,605,000.00
A6F 19,000,000.00 19,000,000.00 106,716.67 0.00 106,716.67 0.00 0.00 19,000,000.00
M1F 13,200,000.00 13,200,000.00 78,870.00 0.00 78,870.00 0.00 0.00 13,200,000.00
M2F 11,000,000.00 11,000,000.00 67,375.00 0.00 67,375.00 0.00 0.00 11,000,000.00
BF1 9,900,000.00 9,900,000.00 63,030.00 0.00 63,030.00 0.00 0.00 9,900,000.00
A1A 84,000,000.00 78,586,930.37 380,400.04 3,017,791.92 3,398,191.96 0.00 0.00 75,569,138.45
A2A 296,000,000.00 290,586,930.37 1,437,799.92 3,017,791.92 4,455,591.84 0.00 0.00 287,569,138.45
C 0.00 5,542,466.29 0.00 0.00 0.00 0.00 1,789,254.95 7,331,721.24
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 600,000,000.00 589,326,552.85 2,987,866.70 9,500,144.87 12,488,011.57 0.00 1,789,254.95 581,615,662.93
</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>
A1F00253CDU8 927.538294 4.515952 46.578576 51.094528 880.959718 5.842500% 5.842500%
A2F00253CDV6 1,000.000000 5.458333 0.000000 5.458333 1,000.000000 6.550000% 6.550000%
A3F00253CDW4 1,000.000000 5.491667 0.000000 5.491667 1,000.000000 6.590000% 6.590000%
A4F00253CDX2 1,000.000000 5.666666 0.000000 5.666666 1,000.000000 6.800000% 6.800000%
A5F00253CDY0 1,000.000000 6.008333 0.000000 6.008333 1,000.000000 7.210000% 7.210000%
A6F00253CDZ7 1,000.000000 5.616667 0.000000 5.616667 1,000.000000 6.740000% 6.740000%
M1F00253CEA1 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
M2F00253CEB9 1,000.000000 6.125000 0.000000 6.125000 1,000.000000 7.350000% 7.350000%
BF100253CEC7 1,000.000000 6.366667 0.000000 6.366667 1,000.000000 7.640000% 7.640000%
A1A00253CED5 935.558695 4.528572 35.926094 40.454666 899.632601 5.808600% *NA
A2A00253CEE3 981.712603 4.857432 10.195243 15.052675 971.517360 5.937500% 5.937500%
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: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Class A-1A Current Pass-Through Rate is a average
Page 1 of 7
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
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>
LTF 218,018,698.78 214,693,613.78 1,810,661.92 2,777,411.62 4,588,073.54 0.00 6,590.95 211,922,793.11
LTA 743,810.00 689,912.26 5,818.51 34,645.61 40,464.12 0.00 0.00 655,266.65
LTA 271,970.00 271,970.00 2,293.71 0.00 2,293.71 0.00 0.00 271,970.00
LTA 352,340.00 352,340.00 2,971.53 0.00 2,971.53 0.00 0.00 352,340.00
LTA 144,830.00 144,830.00 1,221.45 0.00 1,221.45 0.00 0.00 144,830.00
LTA 156,050.00 156,050.00 1,316.08 0.00 1,316.08 0.00 0.00 156,050.00
LTA 190,000.00 190,000.00 1,602.40 0.00 1,602.40 0.00 0.00 190,000.00
LTM 132,000.00 132,000.00 1,113.25 0.00 1,113.25 0.00 0.00 132,000.00
LTM 110,000.00 110,000.00 927.71 0.00 927.71 0.00 0.00 110,000.00
LTB 99,000.00 99,000.00 834.94 0.00 834.94 0.00 0.00 99,000.00
LTA 381,123,170.95 373,764,476.68 2,919,523.49 4,911,191.72 7,830,715.21 0.00 10,747.84 368,864,032.80
LTA 840,000.00 785,869.30 6,138.53 30,177.92 36,316.45 0.00 0.00 755,691.38
LTA 2,960,000.00 2,905,869.31 22,698.13 30,177.92 52,876.05 0.00 0.00 2,875,691.39
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 605,141,869.73 594,295,931.33 4,777,121.65 7,783,604.79 12,560,726.44 0.00 17,338.79 586,529,665.33
</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>
LTFM 984.748625 8.305076 12.739328 21.044404 972.039528 10.120442% 10.112787%
LTA1F 927.538296 7.822576 46.578575 54.401151 880.959721 10.120442% 10.112787%
LTA2F 1,000.000000 8.433688 0.000000 8.433688 1,000.000000 10.120442% 10.112787%
LTA3F 1,000.000000 8.433700 0.000000 8.433700 1,000.000000 10.120442% 10.112787%
LTA4F 1,000.000000 8.433681 0.000000 8.433681 1,000.000000 10.120442% 10.112787%
LTA5F 1,000.000000 8.433707 0.000000 8.433707 1,000.000000 10.120442% 10.112787%
LTA6F 1,000.000000 8.433684 0.000000 8.433684 1,000.000000 10.120442% 10.112787%
LTM1F 1,000.000000 8.433712 0.000000 8.433712 1,000.000000 10.120442% 10.112787%
LTM2F 1,000.000000 8.433727 0.000000 8.433727 1,000.000000 10.120442% 10.112787%
LTB1F 1,000.000000 8.433737 0.000000 8.433737 1,000.000000 10.120442% 10.112787%
LTA 980.692084 7.660315 12.886101 20.546416 967.834183 9.373358% 9.376157%
LTA 935.558690 7.307774 35.926095 43.233869 899.632595 9.373358% 9.376157%
LTA 981.712605 7.668287 10.195243 17.863530 971.517361 9.373358% 9.376157%
RI 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: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 2 of 7
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
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>
MTF 218,018,698.78 214,693,613.78 1,810,661.92 2,777,411.62 4,588,073.54 0.00 6,590.95 211,922,793.11
MTA 743,810.00 689,912.26 3,359.01 34,645.61 38,004.62 0.00 0.00 655,266.65
MTA 271,970.00 271,970.00 1,484.50 0.00 1,484.50 0.00 0.00 271,970.00
MTA 352,340.00 352,340.00 1,934.93 0.00 1,934.93 0.00 0.00 352,340.00
MTA 144,830.00 144,830.00 820.70 0.00 820.70 0.00 0.00 144,830.00
MTA 156,050.00 156,050.00 937.60 0.00 937.60 0.00 0.00 156,050.00
MTA 190,000.00 190,000.00 1,067.17 0.00 1,067.17 0.00 0.00 190,000.00
MTM 132,000.00 132,000.00 788.70 0.00 788.70 0.00 0.00 132,000.00
MTA 110,000.00 110,000.00 673.75 0.00 673.75 0.00 0.00 110,000.00
MTB 99,000.00 99,000.00 630.30 0.00 630.30 0.00 0.00 99,000.00
MTF 0.00 0.00 6,402.93 0.00 6,402.93 0.00 0.00 0.00
MTA 381,123,170.95 373,764,476.68 2,919,523.49 4,911,191.72 7,830,715.21 0.00 10,747.84 368,864,032.80
MTA 840,000.00 785,869.30 3,804.00 30,177.92 33,981.92 0.00 0.00 755,691.38
MTA 2,960,000.00 2,905,869.31 14,377.99 30,177.92 44,555.91 0.00 0.00 2,875,691.39
MTA 0.00 0.00 10,654.66 0.00 10,654.66 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 605,141,869.73 594,295,931.33 4,777,121.65 7,783,604.79 12,560,726.44 0.00 17,338.79 586,529,665.33
</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>
MTFM 984.748625 8.305076 12.739328 21.044404 972.039528 10.120442% 10.112787%
MTA1F 927.538296 4.515952 46.578575 51.094527 880.959721 5.842500% 5.842500%
MTA2F 1,000.000000 5.458323 0.000000 5.458323 1,000.000000 6.550000% 6.550000%
MTA3F 1,000.000000 5.491656 0.000000 5.491656 1,000.000000 6.590000% 6.590000%
MTA4F 1,000.000000 5.666644 0.000000 5.666644 1,000.000000 6.800000% 6.800000%
MTA5F 1,000.000000 6.008331 0.000000 6.008331 1,000.000000 7.210000% 7.210000%
MTA6F 1,000.000000 5.616684 0.000000 5.616684 1,000.000000 6.740000% 6.740000%
MTM1F 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
MTA2F 1,000.000000 6.125000 0.000000 6.125000 1,000.000000 7.350000% 7.350000%
MTB1F 1,000.000000 6.366667 0.000000 6.366667 1,000.000000 7.640000% 7.640000%
MTFIO 0.000000 0.010581 0.000000 0.010581 0.000000 0.000000% 0.000000%
MTAM 980.692084 7.660315 12.886101 20.546416 967.834183 9.373358% 9.376157%
MTA1A 935.558690 4.528571 35.926095 40.454667 899.632595 5.808600% #N/A
MTA2A 981.712605 4.857429 10.195243 15.052672 971.517361 5.937500% 5.937500%
MTAIO 0 0.01760688 0 0.017606880 0 0 0
RII 0 0 0 0 0 0 0
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 3 of 7
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
FixedPRINCIPAL BALANCE 6,890,811.79 1,133,925.78 317,023.37 8,341,760.94
PERCENTAGE OF POOL BALANCE 3.21949% 0.52979% 0.14812% 3.89740%
NUMBER OF LOANS 132 26 7 165
PERCENTAGE OF POOL LOANS 3.57627% 0.70442% 0.18965% 4.47033%
Adj GPRINCIPAL BALANCE 12,086,633.81 3,552,768.63 974,596.36 16,613,998.80
PERCENTAGE OF POOL BALANCE 3.24477% 0.95378% 0.26164% 4.46019%
NUMBER OF LOANS 143 39 7 189
PERCENTAGE OF POOL LOANS 3.70274% 1.00984% 0.18125% 4.89384%
FORECLOSURE LOAN INFORMATION
FixedPRINCIPAL BALANCE 0.00 1,019,646.18 3,447,561.96 4,467,208.14
PERCENTAGE OF POOL BALANCE 0.00000% 0.47639% 1.61075% 2.08715%
NUMBER OF LOANS 0 24 54 78
PERCENTAGE OF POOL LOANS 0.00000% 0.65023% 1.46302% 2.11325%
Adj GPRINCIPAL BALANCE 0.00 2,515,158.58 7,183,931.79 9,699,090.37
PERCENTAGE OF POOL BALANCE 0.00000% 0.67522% 1.92860% 2.60381%
NUMBER OF LOANS 0 29 84 113
PERCENTAGE OF POOL LOANS 0.00000% 0.75091% 2.17504% 2.92595%
REO LOAN INFORMATION
FixedPRINCIPAL 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 GPRINCIPAL 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%
BANKRUPTCY LOAN INFORMATION
FixedPRINCIPAL BALANCE 0.00 38,423.67 291,864.73 330,288.40
PERCENTAGE OF POOL BALANCE 0.00000% 0.01795% 0.13636% 0.15432%
NUMBER OF LOANS 0 1 2 3
PERCENTAGE OF POOL LOANS 0.00000% 0.02709% 0.05419% 0.08128%
Adj GPRINCIPAL BALANCE 33,202.09 150,169.32 112,215.77 295,587.18
PERCENTAGE OF POOL BALANCE 0.00891% 0.04031% 0.03013% 0.07935%
NUMBER OF LOANS 1 2 2 5
PERCENTAGE OF POOL LOANS 0.02589% 0.05179% 0.05179% 0.12947%
TOTAL
FixedPRINCIPAL BALANCE 6,890,811.79 2,191,995.63 4,056,450.06 13,139,257.48
PERCENTAGE OF POOL BALANCE 3.21949% 1.02413% 1.89523% 6.13886%
NUMBER OF LOANS 132 51 63 246
PERCENTAGE OF POOL LOANS 3.57627% 1.38174% 1.70685% 6.66486%
Adj GPRINCIPAL BALANCE 12,119,835.90 6,218,096.53 8,270,743.92 26,608,676.35
PERCENTAGE OF POOL BALANCE 3.25369% 1.66931% 2.22036% 7.14336%
NUMBER OF LOANS 144 70 93 307
PERCENTAGE OF POOL LOANS 3.72864% 1.81253% 2.40808% 7.94925%
</TABLE>
Page 4 of 7
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: April 15, 1998
COLLECTION ACCOUNT INFORMATION
<TABLE>
<CAPTION>
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 347,262.77 232,849.58 580,112.35
PREPAYMENTS & CURTAILMENTS 2,458,203.51 4,727,950.14 7,186,153.65
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 2,805,466.28 4,960,799.72 7,766,266.00
SOURCES OF INTEREST
SCHEDULED INTEREST 1,919,111.38 3,105,633.57 5,024,744.95
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 (359,651.92) (593,506.59) (953,158.51)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (74,590.00) (129,523.78) (204,113.78)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 343,892.04 565,756.95 909,648.99
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 0.00 0.00 0.00
TOTAL INTEREST 1,828,761.50 2,948,360.15 4,777,121.65
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
4,634,227.78 7,909,159.87 12,543,387.65
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 12,543,387.65
</TABLE>
Page 5 of 7
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
<S> <C> <C> <C>
SERVICING FEES Fixed Group Adj Group Total
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 90,349.88 157,273.42 247,623.30
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (15,759.89) (27,749.64) (43,509.53)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 74,589.99 129,523.78 204,113.77
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
PRIOR PRINCIPAL BALANCE OF POOL: 216,839,716.06 377,456,215.29 594,295,931.35
CURRENT PRINCIPAL BALANCE OF POOL: 214,034,249.78 372,495,415.57 586,529,665.35
GROUP FACTOR 97.19168% 96.77137% 96.92432%
PRIOR NUMBER OF LOANS: 3,731 3,906 7,637
CURRENT NUMBER OF LOANS: 3,691 3,862 7,553
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: 40 44 84
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.62044% 9.87336%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.61279% 9.87616%
WEIGHTED AVERAGE TERM TO MATURITY: 292 352
TRIGGER EVENTS Fixed Group Adj Group
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES > 50% OF SENIOR ENHANCEMENT % ? NO
TARGET LOSS OC EVENT OCCURED? NO
STEP DOWN ROLLING LOSS TEST NOT SATISFIED? NO
STEP DOWN ROLLING DELINQUENCY TEST NOT SATISFIED? NO
STEP DOWN CUMMULATIVE LOSS TEST NOT SATISFIED? NO
SENIOR ENHANCEMENT % 101.31%
OVERCOLLATERALIZATION Fixed Group Adj Group
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 659,094.76 1,074,784.11
OVERCOLLATERALIZATION AMOUNT 2,888,584.99 9,357,138.67
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 21,170,774.55
</TABLE>
Page 6 of 7
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: April 15, 1998
<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 M1F 0.00 0.00
CLASS M2F 0.00 0.00
CLASS BF1 0.00 0.00
CLASS A1A 0.00 0.00
CLASS A2A 0.00 0.00
CERTIFICATE INSURER INFORMATION
FINANCIAL GUARANTY PREMIUM PAID: 55,376.08
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
</TABLE>
<TABLE>
<CAPTION>
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
Week Beggining Week Ending Rate
<S> <C> <C> <C>
03/16/98 03/20/98 5.8820%
03/21/98 03/27/98 5.8480%
03/28/98 04/03/98 5.7820%
04/04/98 04/10/98 5.7380%
04/11/98 04/14/98 5.8180%
</TABLE>
Page 7 of 7
COPYRIGHT 1998 Bankers Trust Company
EXHIBIT 20.3
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
REMIC I
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>
IFA 15,000,000.00 15,000,000.00 123,614.87 0.00 123,614.87 0.00 0.00 15,000,000.00
IFB 135,000,000.00 135,000,000.00 1,112,533.75 362,465.61 1,474,999.36 0.00 0.00 134,637,534.39
IA 150,000,000.00 150,000,000.00 1,167,212.37 152,470.61 1,319,682.98 0.00 0.00 149,847,529.39
R1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 300,000,000.00 300,000,000.00 2,403,360.99 514,936.22 2,918,297.21 0.00 0.00 299,485,063.78
</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>
IFA 1,000.000000 8.240991 0.000000 8.240991 1,000.000000 9.890130% 9.889922%
IFB 1,000.000000 8.240991 2.684930 10.925921 997.315070 9.890130% 9.889922%
IA 1,000.000000 7.781416 1.016471 8.797887 998.983529 9.337714% 9.344412%
R1 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: Donaldson, Lufkin, & Jenrette Securities Inc 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
Page 1 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Remic II
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>
LTFM 148,500,000.00 148,500,000.00 1,161,918.02 358,840.95 1,520,758.97 0.00 3,751.86 148,144,910.91
LTA1F 615,000.00 615,000.00 4,811.98 7,376.52 12,188.50 0.00 0.00 607,623.48
LTA2F 100,000.00 100,000.00 782.44 0.00 782.44 0.00 0.00 100,000.00
LTA3F 275,000.00 275,000.00 2,151.70 0.00 2,151.70 0.00 0.00 275,000.00
LTA4F 200,000.00 200,000.00 1,564.87 0.00 1,564.87 0.00 0.00 200,000.00
LTA5F 160,000.00 160,000.00 1,251.90 0.00 1,251.90 0.00 0.00 160,000.00
LTA6F 150,000.00 150,000.00 1,173.66 0.00 1,173.66 0.00 0.00 150,000.00
LTAIO 15,000,000.00 15,000,000.00 62,494.05 0.00 62,494.05 0.00 0.00 15,000,000.00
LTAM 148,500,000.00 148,500,000.00 1,155,540.24 150,945.90 1,306,486.14 0.00 7,654.89 148,356,708.99
LTA1A 1,110,000.00 1,110,000.00 8,637.38 9,179.60 17,816.98 0.00 0.00 1,100,820.40
LTM1A 150,000.00 150,000.00 1,167.21 0.00 1,167.21 0.00 0.00 150,000.00
LTM2A 127,500.00 127,500.00 992.13 0.00 992.13 0.00 0.00 127,500.00
LFB1A 112,500.00 112,500.00 875.41 0.00 875.41 0.00 0.00 112,500.00
R2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 300,000,000.00 300,000,000.00 2,403,360.99 526,342.97 2,929,703.96 0.00 11,406.75 299,485,063.78
</TABLE>
* Class LTAIO Represents a Notional Balance
<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>
LTFM 1,000.000000 7.824364 2.416437 10.240801 997.608828 9.390130% 9.388711%
LTA1F 1,000.000000 7.824358 11.994341 19.818699 988.005659 9.390130% 9.388711%
LTA2F 1,000.000000 7.824400 0.000000 7.824400 1,000.000000 9.390130% 9.388711%
LTA3F 1,000.000000 7.824364 0.000000 7.824364 1,000.000000 9.390130% 9.388711%
LTA4F 1,000.000000 7.824350 0.000000 7.824350 1,000.000000 9.390130% 9.388711%
LTA5F 1,000.000000 7.824375 0.000000 7.824375 1,000.000000 9.390130% 9.388711%
LTA6F 1,000.000000 7.824400 0.000000 7.824400 1,000.000000 9.390130% 9.388711%
LTAIO * 1,000.000000 4.166270 0.000000 4.166270 1,000.000000 5.000000% 5.000000%
LTAM 1,000.000000 7.781416 1.016471 8.797886 999.035077 9.337714% 9.344412%
LTA1A 1,000.000000 7.781423 8.269910 16.051333 991.730090 9.337714% 9.344412%
LTM1A 1,000.000000 7.781400 0.000000 7.781400 1,000.000000 9.337714% 9.344412%
LTM2A 1,000.000000 7.781412 0.000000 7.781412 1,000.000000 9.337714% 9.344412%
LFB1A 1,000.000000 7.781422 0.000000 7.781422 1,000.000000 9.337714% 9.344412%
R2 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: Donaldson, Lufkin, & Jenrette Securities Inc 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 2 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Remic III
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>
MTFM 148,500,000.00 148,500,000.00 1,161,918.03 358,840.95 1,520,758.98 0.00 3,751.86 148,144,910.91
MTA1F 615,000.00 615,000.00 3,207.94 7,376.52 10,584.46 0.00 0.00 607,623.48
MTA2F 100,000.00 100,000.00 516.62 0.00 516.62 0.00 0.00 100,000.00
MTA3F 275,000.00 275,000.00 1,436.74 0.00 1,436.74 0.00 0.00 275,000.00
MTA4F 200,000.00 200,000.00 1,083.23 0.00 1,083.23 0.00 0.00 200,000.00
MTA5F 160,000.00 160,000.00 931.91 0.00 931.91 0.00 0.00 160,000.00
MTA6F 150,000.00 150,000.00 807.42 0.00 807.42 0.00 0.00 150,000.00
MTAIO 0.00 0.00 62,494.05 0.00 62,494.05 0.00 0.00 0.00
MTFIO 0.00 0.00 3,752.68 0.00 3,752.68 0.00 0.00 0.00
MTAM 148,500,000.00 148,500,000.00 1,155,540.24 150,945.90 1,306,486.14 0.00 7,654.89 148,356,708.99
MTA1A 1,110,000.00 1,110,000.00 5,436.68 9,179.60 14,616.28 0.00 0.00 1,100,820.40
MTM1A 150,000.00 150,000.00 767.19 0.00 767.19 0.00 0.00 150,000.00
MTM2A 127,500.00 127,500.00 673.36 0.00 673.36 0.00 0.00 127,500.00
MTB1A 112,500.00 112,500.00 655.08 0.00 655.08 0.00 0.00 112,500.00
MTADJ 0.00 0.00 4,139.82 0.00 4,139.82 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 300,000,000.00 300,000,000.00 2,403,360.99 526,342.97 2,929,703.96 0.00 11,406.75 299,485,063.78
</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>
MTFM 1,000.000000 7.824364 2.416437 10.240801 997.608828 9.390130% 9.388711%
MTA1F 1,000.000000 5.216163 11.994341 17.210504 988.005659 6.260000% 6.260000%
MTA2F 1,000.000000 5.166200 0.000000 5.166200 1,000.000000 6.200000% 6.200000%
MTA3F 1,000.000000 5.224509 0.000000 5.224509 1,000.000000 6.270000% 6.270000%
MTA4F 1,000.000000 5.416150 0.000000 5.416150 1,000.000000 6.500000% 6.500000%
MTA5F 1,000.000000 5.824438 0.000000 5.824438 1,000.000000 6.990000% 6.990000%
MTA6F 1,000.000000 5.382800 0.000000 5.382800 1,000.000000 6.460000% 6.460000%
MTAIO 0.000000 0.208314 0.000000 0.208314 0.000000 0.000000% 0.000000%
MTFIO 0.000000 0.012509 0.000000 0.012509 0.000000 0.000000% 0.000000%
MTAM 1,000.000000 7.781416 1.016471 8.797886 999.035077 9.337714% 9.344412%
MTA1A 1,000.000000 4.897910 8.269910 13.167820 991.730090 5.877500% 5.877500%
MTM1A 1,000.000000 5.114600 0.000000 5.114600 1,000.000000 6.137500% 6.137500%
MTM2A 1,000.000000 5.281255 0.000000 5.281255 1,000.000000 6.337500% 6.337500%
MTB1A 1,000.000000 5.822933 0.000000 5.822933 1,000.000000 6.987500% 6.987500%
MTADJIO 0 0.01379940 0 0.01379940 0 0 0
R3 0 0 0 0 0 0 0
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donaldson, Lufkin, & Jenrette Securities Inc 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
Page 3 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Remic IV
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 61,500,000.00 61,500,000.00 320,825.00 737,651.73 1,058,476.73 0.00 0.00 60,762,348.27
A2F 10,000,000.00 10,000,000.00 51,666.67 0.00 51,666.67 0.00 0.00 10,000,000.00
A3F 27,500,000.00 27,500,000.00 143,687.50 0.00 143,687.50 0.00 0.00 27,500,000.00
A4F 20,000,000.00 20,000,000.00 108,333.33 0.00 108,333.33 0.00 0.00 20,000,000.00
A5F 16,000,000.00 16,000,000.00 93,200.00 0.00 93,200.00 0.00 0.00 16,000,000.00
A6F 15,000,000.00 15,000,000.00 80,750.00 0.00 80,750.00 0.00 0.00 15,000,000.00
AIO 15,000,000.00 15,000,000.00 62,500.00 0.00 62,500.00 0.00 0.00 15,000,000.00
A1A 111,000,000.00 111,000,000.00 289,956.67 917,959.64 1,207,916.31 0.00 0.00 110,082,040.36
M1A 15,000,000.00 15,000,000.00 40,916.67 0.00 40,916.67 0.00 0.00 15,000,000.00
M2A 12,750,000.00 12,750,000.00 35,912.50 0.00 35,912.50 0.00 0.00 12,750,000.00
B1A 11,250,000.00 11,250,000.00 34,937.50 0.00 34,937.50 0.00 0.00 11,250,000.00
C 0.00 0.00 0.00 0.00 0.00 0.00 1,140,675.16 1,140,675.16
R4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 300,000,000.00 300,000,000.00 1,262,685.84 1,655,611.37 2,918,297.21 0.00 1,140,675.16 299,485,063.79
* Represents a Notional Amount
</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 00253CEF0 1,000.000000 5.216667 11.994337 17.211004 988.005663 6.260000% 6.260000%
A2F 00253CEG8 1,000.000000 5.166667 0.000000 5.166667 1,000.000000 6.200000% 6.200000%
A3F 00253CEH6 1,000.000000 5.225000 0.000000 5.225000 1,000.000000 6.270000% 6.270000%
A4F 00253CEJ2 1,000.000000 5.416667 0.000000 5.416667 1,000.000000 6.500000% 6.500000%
A5F 00253CEK9 1,000.000000 5.825000 0.000000 5.825000 1,000.000000 6.990000% 6.990000%
A6F 00253CEL7 1,000.000000 5.383333 0.000000 5.383333 1,000.000000 6.460000% 6.460000%
AIO 00253CEM5 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 5.000000% 5.000000%
A1A 00253CEN3 1,000.000000 2.612222 8.269907 10.882129 991.730093 5.877500% 5.877500%
M1A 00253CEP8 1,000.000000 2.727778 0.000000 2.727778 1,000.000000 6.137500% 6.137500%
M2A 00253CEQ6 1,000.000000 2.816667 0.000000 2.816667 1,000.000000 6.337500% 6.337500%
B1A 00253CER4 1,000.000000 3.105556 0.000000 3.105556 1,000.000000 6.987500% 6.987500%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R4 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: Donaldson, Lufkin, & Jenrette Securities Inc 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
Page 4 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
REMIC I
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
Fixed PRINCIPAL BALANCE 4,803,962.78 201,403.81 0.00 5,005,366.59
PERCENTAGE OF POOL BALANCE 3.21040% 0.13459% 0.00000% 3.34499%
NUMBER OF LOANS 75 5 0 80
PERCENTAGE OF POOL LOANS 2.82273% 0.18818% 0.00000% 3.01091%
Adj GPRINCIPAL BALANCE 5,740,549.73 1,941,214.67 0.00 7,681,764.40
PERCENTAGE OF POOL BALANCE 3.83093% 1.29546% 0.00000% 5.12639%
NUMBER OF LOANS 68 16 0 84
PERCENTAGE OF POOL LOANS 4.25798% 1.00188% 0.00000% 5.25986%
FORECLOSURE LOAN INFORMATION
FixedPRINCIPAL BALANCE 0.00 178,676.00 0.00 178,676.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.11941% 0.00000% 0.11941%
NUMBER OF LOANS 0 3 0 3
PERCENTAGE OF POOL LOANS 0.00000% 0.11291% 0.00000% 0.11291%
Adj GPRINCIPAL BALANCE 0.00 726,205.14 0.00 726,205.14
PERCENTAGE OF POOL BALANCE 0.00000% 0.48463% 0.00000% 0.48463%
NUMBER OF LOANS 0 6 0 6
PERCENTAGE OF POOL LOANS 0.00000% 0.37570% 0.00000% 0.37570%
REO LOAN INFORMATION
FixedPRINCIPAL 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 GPRINCIPAL 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%
BANKRUPTCY LOAN INFORMATION
FixedPRINCIPAL BALANCE 0.00 52,500.00 0.00 52,500.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.03508% 0.00000% 0.03508%
NUMBER OF LOANS 0 1 0 1
PERCENTAGE OF POOL LOANS 0.00000% 0.03764% 0.00000% 0.03764%
Adj GPRINCIPAL 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
FixedPRINCIPAL BALANCE 4,803,962.78 432,579.81 0.00 5,236,542.59
PERCENTAGE OF POOL BALANCE 3.21040% 0.28909% 0.00000% 3.49948%
NUMBER OF LOANS 75 9 0 84
PERCENTAGE OF POOL LOANS 2.82273% 0.33873% 0.00000% 3.16146%
Adj GPRINCIPAL BALANCE 5,740,549.73 2,667,419.81 0.00 8,407,969.54
PERCENTAGE OF POOL BALANCE 3.83093% 1.78009% 0.00000% 5.61102%
NUMBER OF LOANS 68 22 0 90
PERCENTAGE OF POOL LOANS 4.25798% 1.37758% 0.00000% 5.63557%
</TABLE>
Page 5 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
REMIC I
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 45,468.91 42,415.16 87,884.07
PREPAYMENTS & CURTAILMENTS 302,723.46 (1,510.26) 301,213.20
REPURCHASES/SUBSTITUTIONS 0.00 111,322.00 111,322.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL 0.00 0.00 0.00
PREFUNDING ACCOUNT TERMINATION 14,273.24 243.71 14,516.95
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 362,465.61 152,470.61 514,936.22
SOURCES OF INTEREST
SCHEDULED INTEREST 884,361.98 527,393.46 1,411,755.44
REPURCHASES/SUBSTITUTIONS 0.00 892.90 892.90
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 (157,608.30) (178,600.19) (336,208.49)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (55,498.79) (54,294.33) (109,793.12)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 150,613.04 170,394.62 321,007.66
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 429,280.69 701,425.91 1,130,706.60
TOTAL INTEREST 1,251,148.62 1,167,212.37 2,418,360.99
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
1,613,614.23 1,319,682.98 2,933,297.21
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 2,933,297.21
</TABLE>
Page 6 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
REMIC I
Statement To Certificateholders
Distribution Date: April 15, 1998
<TABLE>
<CAPTION>
SERVICING FEES Fixed Group Adj Group Total
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 62,494.05 62,499.90 124,993.95
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (6,995.26) (8,205.57) (15,200.83)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 55,498.79 54,294.33 109,793.12
AMOUNT PER $1000 CERTIFICATE:
</TABLE>
<TABLE>
<CAPTION>
POOL INFORMATION Fixed Group Adj Group Total
<S> <C> <C> <C>
PRIOR PRINCIPAL BALANCE OF POOL: 149,985,726.76 149,999,756.29 299,985,483.05
CURRENT PRINCIPAL BALANCE OF POOL: 149,637,534.39 149,847,529.39 299,485,063.78
GROUP FACTOR 99.75836% 99.89835% 99.82836%
PRIOR NUMBER OF LOANS: 2663 1598 4261
CURRENT NUMBER OF LOANS: 2657 1597 4254
NUMBER OF LOANS PURCHASED FROM Mortgage Replacement 0 0 0
CURRENT PRINCIPAL BAL. OF LOANS PURCHASED FROM MORT REPLACEMENT 0 0 0
NUMBER OF LOANS PAID IN FULL: 6 1 7
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.51014% 9.83771%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.50962% 9.84441%
WEIGHTED AVERAGE TERM TO MATURITY: 295 356
</TABLE>
<TABLE>
<CAPTION>
TRIGGER EVENTS Fixed Group Adj Group
<S> <C> <C>
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES > 40% NO
TARGET LOSS OC EVENT OCCURRED? NO
TARGET DELINQUENCY EVENT OCCURRED? NO
STEP DOWN ROLLING LOSS TEST NOT SATISFIED? NO
STEP DOWN ROLLING DELINQUENCY TEST NOT SATISFIED? NO
STEP DOWN CUMULATIVE LOSS TEST NOT SATISFIED? NO
SENIOR ENHANCEMENT % 26.03%
STEPPED UP SENIOR ENHANCEMENT % 95.55%
</TABLE>
<TABLE>
<CAPTION>
OVERCOLLATERALIZATION Fixed Group Adj Group
<S> <C> <C>
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 375,186.12 765,489.03
OVERCOLLATERALIZATION AMOUNT 375,186.12 765,489.03
TARGET OVERCOLLATERALIZATION AMOUNT 4,875,000.00 5,250,000.00
</TABLE>
Page 7 of 8
COPYRIGHT 1998 Bankers Trust Company
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
REMIC I
Statement To Certificateholders
Distribution Date: April 15, 1998
<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 A1A 0.00 0.00
CLASS M1A 0.00 0.00
CLASS M2A 0.00 0.00
CLASS B1A 0.00 0.00
CERTIFICATE INSURER INFORMATION
FINANCIAL GUARANTY PREMIUM PAID: 15,000.00
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
</TABLE>
Page 8 of 8
COPYRIGHT 1998 Bankers Trust Company
