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)
JANUARY 15, 1998
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
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-D - 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: January 28, 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
<PAGE>
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
- ----- ---------- --------- -------- --------- ----- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 63,000,000.00 57,394,943.59 302,471.35 1,834,719.52 2,137,190.87 0.00 0.00 55,560,224.07
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 244,758,000.00 231,137,710.50 1,234,018.55 5,030,067.55 6,264,086.10 0.00 0.00 226,107,642.95
M1A 27,739,000.00 27,739,000.00 152,394.98 0.00 152,394.98 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 157,411.12 0.00 157,411.12 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 157,379.25 0.00 157,379.25 0.00 0.00 26,109,000.00
C 0.00 4,080,230.95 0.00 0.00 0.00 0.00 1,104,131.73 5,184,362.68
RIII 0 0 0 0 0 0 0 0
--------------- -------------- ------------ ------------ ------------ ---- ------------ --------------
TOTALS 504,137,000.00 488,991,885.04 2,906,206.91 6,864,787.07 9,770,993.98 0.00 1,104,131.73 483,231,229.70
=============== ============== ============ ============ ============ ==== ============ ==============
</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 911.030851 4.801133 29.122532 33.923665 881.908319 6.120000% 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 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 944.352015 5.041790 20.551187 25.592978 923.800828 6.200000% 5.825000%
M1A 00253CDQ7 1,000.000000 5.493889 0.000000 5.493889 1,000.000000 6.380000% 6.005000%
M2A 00253CDR5 1,000.000000 5.674722 0.000000 5.674722 1,000.000000 6.590000% 6.215000%
B1A 00253CDS3 1000 6.027777778 0 6.027777778 1000 0.07 0.06625
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: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</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
- ----- ---------- --------- -------- --------- ----- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 9,000,000.00 9,000,000.00 76,936.96 0.00 76,936.96 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 115,405.44 0.00 115,405.44 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,468.48 0.00 38,468.48 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 115,405.44 0.00 115,405.44 0.00 0.00 13,500,000.00
IFB 137,292,995.45 132,652,327.85 1,133,985.16 1,559,521.05 2,693,506.21 0.00 0.00 131,092,806.80
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ==== ==============
TOTALS 177,792,995.45 173,152,327.85 1,480,201.48 1,559,521.05 3,039,722.53 0.00 0.00 171,592,806.80
</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>
IFA1 1,000.000000 8.548551 0.000000 8.548551 1,000.000000 10.258261% 10.252304%
IFA2 1,000.000000 8.548551 0.000000 8.548551 1,000.000000 10.258261% 10.252304%
IFA3 1,000.000000 8.548551 0.000000 8.548551 1,000.000000 10.258261% 10.252304%
IFA4 1,000.000000 8.548551 0.000000 8.548551 1,000.000000 10.258261% 10.252304%
IFB 966.198803 8.259600 11.359072 19.618672 954.839731 10.258261% 10.252304%
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: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</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
- ----- ---------- --------- -------- --------- ----- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA 326,345,084.45 315,840,637.09 2,530,137.16 4,201,134.29 6,731,271.45 0.00 0.00 311,639,502.80
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ==== ==============
TOTALS 326,345,084.45 315,840,637.09 2,530,137.16 4,201,134.29 6,731,271.45 0.00 0.00 311,639,502.80
</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>
IA 967.811841 7.752950 12.873288 20.626238 954.938553 9.612964% 9.605673%
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: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</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
- ----- ---------- --------- -------- --------- ----- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 174,237,135.54 169,689,281.30 1,219,072.45 1,528,330.63 2,747,403.08 0.00 0.00 168,160,950.67
II1F 630,000.00 573,949.43 4,123.34 18,347.19 22,470.53 0.00 0.00 555,602.24
II2F 207,900.00 207,900.00 1,493.58 0.00 1,493.58 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,796.04 0.00 1,796.04 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 718.41 0.00 718.41 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 862.10 0.00 862.10 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,077.62 0.00 1,077.62 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 702.47 0.00 702.47 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 638.60 0.00 638.60 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 574.73 0.00 574.73 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 383.27 0.00 383.27 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,741,177.12 9,756.89 15,595.21 25,352.10 0.00 2,751.98 1,728,333.89
IIAA 319,818,182.76 309,523,824.34 2,479,534.42 4,117,111.61 6,596,646.03 0.00 0.00 305,406,712.73
II1A 2,447,580.00 2,311,377.11 18,515.99 50,300.67 68,816.66 0.00 0.00 2,261,076.44
II2A 277,390.00 277,390.00 2,222.12 0.00 2,222.12 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,222.12 0.00 2,222.12 0.00 0.00 277,390.00
II4A 261090 261090 2091.54 0 2091.54 0 0 261090
IIMA 3263451.69 3189565.64 17261.65 42011.34 59272.99 0 8289.33 3155843.63
IIIO* 40500000 40500000 236250 0 236250 0 0 40500000
RII 0 0 0 0 0 0 0 0
============== ============== ============ ============ ============ ====== ========= ==============
TOTALS 504,138,079.90 488,992,964.94 3,999,297.34 5,771,696.65 9,770,993.99 0.00 11,041.31 483,232,309.60
</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>
IIAF 973.898479 6.996628 8.771555 15.768183 965.126924 8.620974% 8.600136%
II1F 911.030841 6.544984 29.122524 35.667508 881.908317 8.620974% 8.600136%
II2F 1,000.000000 7.184127 0.000000 7.184127 1,000.000000 8.620974% 8.600136%
II3F 1,000.000000 7.184160 0.000000 7.184160 1,000.000000 8.620974% 8.600136%
II4F 1,000.000000 7.184100 0.000000 7.184100 1,000.000000 8.620974% 8.600136%
II5F 1,000.000000 7.184167 0.000000 7.184167 1,000.000000 8.620974% 8.600136%
II6F 1,000.000000 7.184133 0.000000 7.184133 1,000.000000 8.620974% 8.600136%
II7F 1,000.000000 7.184189 0.000000 7.184189 1,000.000000 8.620974% 8.600136%
II8F 1,000.000000 7.184160 0.000000 7.184160 1,000.000000 8.620974% 8.600136%
II10F 1,000.000000 7.184067 0.000000 7.184067 1,000.000000 8.620974% 8.600136%
IIMF 979.322816 5.487750 8.771506 14.259256 972.099158 8.620974% 8.600136%
IIAA 967.811841 7.752950 12.873288 20.626238 954.938553 9.612964% 9.605673%
II1A 944.352017 7.565019 20.551185 28.116205 923.800832 9.612964% 9.605673%
II2A 1,000.000000 8.010815 0.000000 8.010815 1,000.000000 9.612964% 9.605673%
II3A 1000 8.010815098 0 8.010815098 1000 0.096129637 0.096056725
II4A 1000 8.010800873 0 8.010800873 1000 0.096129637 0.096056725
IIMA 977.3595392 5.289384259 12.87328387 18.16266813 967.0263052 0.096129637 0.096056725
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: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
--------------------------- ------- -------- -------- -----
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 4,113,736.26 1,147,329.81 457,775.00 5,718,841.07
PERCENTAGE OF POOL BALANCE 2.39738% 0.66864% 0.26678% 3.33280%
NUMBER OF LOANS 92 18 5 115
PERCENTAGE OF POOL LOANS 3.10287% 0.60708% 0.16863% 3.87858%
Adj Group PRINCIPAL BALANCE 13,207,626.25 1,693,422.31 1,101,100.87 16,002,149.43
PERCENTAGE OF POOL BALANCE 4.23811% 0.54339% 0.35333% 5.13483%
NUMBER OF LOANS 151 18 12 181
PERCENTAGE OF POOL LOANS 4.47407% 0.53333% 0.35556% 5.36296%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 185,429.78 1,089,049.68 1,894,478.13 3,168,957.59
PERCENTAGE OF POOL BALANCE 0.10806% 0.63467% 1.10405% 1.84679%
NUMBER OF LOANS 4 20 36 60
PERCENTAGE OF POOL LOANS 0.13491% 0.67454% 1.21417% 2.02361%
Adj Group PRINCIPAL BALANCE 987,782.02 4,340,761.12 5,409,321.58 10,737,864.72
PERCENTAGE OF POOL BALANCE 0.31696% 1.39288% 1.73576% 3.44560%
NUMBER OF LOANS 14 51 70 135
PERCENTAGE OF POOL LOANS 0.41481% 1.51111% 2.07407% 4.00000%
REO LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 33,538.11 0.00 33,538.11
PERCENTAGE OF POOL BALANCE 0.00000% 0.01955% 0.00000% 0.01955%
NUMBER OF LOANS 0 1 0 1
PERCENTAGE OF POOL LOANS 0.00000% 0.03373% 0.00000% 0.03373%
Adj Group PRINCIPAL BALANCE 100,566.70 35,993.48 147,990.21 284,550.39
PERCENTAGE OF POOL BALANCE 0.03227% 0.01155% 0.04749% 0.09131%
NUMBER OF LOANS 2 1 2 5
PERCENTAGE OF POOL LOANS 0.05926% 0.02963% 0.05926% 0.14815%
TOTAL
Fixed Group PRINCIPAL BALANCE 4,299,166.04 2,269,917.60 2,352,253.13 8,921,336.77
PERCENTAGE OF POOL BALANCE 2.50545% 1.32285% 1.37083% 5.19913%
NUMBER OF LOANS 96 39 41 176
PERCENTAGE OF POOL LOANS 3.23777% 1.31535% 1.38280% 5.93592%
Adj Group PRINCIPAL BALANCE 14,295,974.97 6,070,176.91 6,658,412.66 27,024,564.54
PERCENTAGE OF POOL BALANCE 4.58734% 1.94782% 2.13658% 8.67174%
NUMBER OF LOANS 167 70 84 321
PERCENTAGE OF POOL LOANS 4.94815% 2.07407% 2.48889% 9.51111%
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
- -------------------- ----------- --------- -----
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 193,165.78 156,480.67 349,646.45
PREPAYMENTS & CURTAILMENTS 1,366,355.27 4,044,653.62 5,411,008.89
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 1,559,521.05 4,201,134.29 5,760,655.34
SOURCES OF INTEREST
SCHEDULED INTEREST 1,552,348.28 2,661,737.42 4,214,085.70
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 (274,817.35) (575,407.80) (850,225.15)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (60,432.64) (105,276.75) (165,709.39)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 263,103.19 549,084.29 812,187.48
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,480,201.48 2,530,137.16 4,010,338.64
PERMITTED WITHDRAWALS 0.00 0.00 0.00
TOTAL SOURCES 3,039,722.53 6,731,271.45 9,770,993.98
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 9,770,993.98
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
SERVICING FEES Fixed Group Adj Group Total
- -------------- ----------- --------- -----
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 72,146.80 131,600.27 203,747.07
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (11,714.16) (26,323.52) (38,037.68)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 60,432.64 105,276.75 165,709.39
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- ---------------- ----------- --------- -----
PRIOR PRINCIPAL BALANCE OF POOL: 173,152,327.87 315,840,637.09 488,992,964.96
CURRENT PRINCIPAL BALANCE OF POOL: 171,592,806.82 311,639,502.80 483,232,309.62
GROUP FACTOR 96.51269% 95.49386% 95.85317%
PRIOR NUMBER OF LOANS: 2,997 3,417 6,414
CURRENT NUMBER OF LOANS: 2,965 3,375 6,340
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: 32 42 74
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.75826% 10.11296%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.75230% 10.10567%
WEIGHTED AVERAGE TERM TO MATURITY: 282 352
TRIGGER EVENTS Fixed Group Adj Group
- -------------- ----------- ---------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 1.60932% 2.52108%
SENIOR ENHANCEMENT PERCENTAGE 19.21257% 27.17978%
OVERCOLLATERALIZATION Fixed Group Adj Group
- --------------------- ----------- ---------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 275,198.47 828,933.26
OVERCOLLATERALIZATION AMOUNT 1,240,582.75 3,944,859.85
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
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>
EXHIBIT 20.2
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
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 74,381,000.00 343,361.29 1,683,229.66 2,026,590.95 0.00 0.00 72,697,770.34
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 84,000,000.00 366,725.33 1,514,367.60 1,881,092.93 0.00 0.00 82,485,632.40
A2A 296,000,000.00 296,000,000.00 1,387,500.00 1,514,367.60 2,901,867.60 0.00 0.00 294,485,632.40
C 0.00 0.00 0.00 0.00 0.00 0.00 1,869,300.89 1,869,300.89
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ============ ==============
TOTALS 600,000,000.00 600,000,000.00 2,931,352.33 4,711,964.86 7,643,317.19 0.00 1,869,300.89 597,157,336.03
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- --------- ----- --------- ------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CDU8 1,000.000000 4.616250 22.629834 27.246084 977.370166 6.155000% 5.780000%
A2F 00253CDV6 1,000.000000 5.458333 0.000000 5.458333 1,000.000000 6.550000% 6.550000%
A3F 00253CDW4 1,000.000000 5.491667 0.000000 5.491667 1,000.000000 6.590000% 6.590000%
A4F 00253CDX2 1,000.000000 5.666666 0.000000 5.666666 1,000.000000 6.800000% 6.800000%
A5F 00253CDY0 1,000.000000 6.008333 0.000000 6.008333 1,000.000000 7.210000% 7.210000%
A6F 00253CDZ7 1,000.000000 5.616667 0.000000 5.616667 1,000.000000 6.740000% 6.740000%
M1F 00253CEA1 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
M2F 00253CEB9 1,000.000000 6.125000 0.000000 6.125000 1,000.000000 7.350000% 7.350000%
BF1 00253CEC7 1,000.000000 6.366667 0.000000 6.366667 1,000.000000 7.640000% 7.640000%
A1A 00253CED5 1,000.000000 4.365778 18.028186 22.393963 981.971814 5.821037% * NA
A2A 00253CEE3 1,000.000000 4.687500 5.116107 9.803607 994.883893 6.250000% 5.875000%
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 Brothere, Inc. 3 Park Plaza
RECORD DATE: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</TABLE>
<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>
LTFM 218,018,698.78 218,018,698.78 1,839,678.18 992,093.36 2,831,771.54 0.00 6,811.15 217,033,416.57
LTA1F 743,810.00 743,810.00 6,276.39 16,832.30 23,108.69 0.00 0.00 726,977.70
LTA2F 271,970.00 271,970.00 2,294.93 0.00 2,294.93 0.00 0.00 271,970.00
LTA3F 352,340.00 352,340.00 2,973.10 0.00 2,973.10 0.00 0.00 352,340.00
LTA4F 144,830.00 144,830.00 1,222.10 0.00 1,222.10 0.00 0.00 144,830.00
LTA5F 156,050.00 156,050.00 1,316.78 0.00 1,316.78 0.00 0.00 156,050.00
LTA6F 190,000.00 190,000.00 1,603.25 0.00 1,603.25 0.00 0.00 190,000.00
LTM1F 132,000.00 132,000.00 1,113.84 0.00 1,113.84 0.00 0.00 132,000.00
LTM2F 110,000.00 110,000.00 928.20 0.00 928.20 0.00 0.00 110,000.00
LTB1F 99,000.00 99,000.00 835.38 0.00 835.38 0.00 0.00 99,000.00
LTAM 381,123,170.95 381,123,170.95 2,969,800.58 1,822,143.97 4,791,944.55 0.00 11,881.86 379,312,908.84
LTA1A 840,000.00 840,000.00 6,545.48 15,143.67 21,689.15 0.00 0.00 824,856.33
LTA2A 2,960,000.00 2,960,000.00 23,065.01 15,143.68 38,208.69 0.00 0.00 2,944,856.32
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ========= ==============
TOTALS 605,141,869.73 605,141,869.73 4,857,653.22 2,861,356.98 7,719,010.20 0.00 18,693.01 602,299,205.76
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- --------- ----- --------- ------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 1,000.000000 8.438167 4.550497 12.988664 995.480744 10.125800% 10.122691%
LTA1F 1,000.000000 8.438163 22.629838 31.068001 977.370162 10.125800% 10.122691%
LTA2F 1,000.000000 8.438173 0.000000 8.438173 1,000.000000 10.125800% 10.122691%
LTA3F 1,000.000000 8.438156 0.000000 8.438156 1,000.000000 10.125800% 10.122691%
LTA4F 1,000.000000 8.438169 0.000000 8.438169 1,000.000000 10.125800% 10.122691%
LTA5F 1,000.000000 8.438193 0.000000 8.438193 1,000.000000 10.125800% 10.122691%
LTA6F 1,000.000000 8.438158 0.000000 8.438158 1,000.000000 10.125800% 10.122691%
LTM1F 1,000.000000 8.438182 0.000000 8.438182 1,000.000000 10.125800% 10.122691%
LTM2F 1,000.000000 8.438182 0.000000 8.438182 1,000.000000 10.125800% 10.122691%
LTB1F 1,000.000000 8.438182 0.000000 8.438182 1,000.000000 10.125800% 10.122691%
LTAM 1,000.000000 7.792233 4.780984 12.573218 995.250191 9.350680% 9.348523%
LTA1A 1,000.000000 7.792238 18.028179 25.820417 981.971821 9.350680% 9.348523%
LTA2A 1,000.000000 7.792233 5.116108 12.908341 994.883892 9.350680% 9.348523%
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: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</TABLE>
<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>
MTFM 218,018,698.78 218,018,698.78 1,839,678.18 992,093.36 2,831,771.54 0.00 6,811.15 217,033,416.57
MTA1F 743,810.00 743,810.00 3,815.13 16,832.30 20,647.43 0.00 0.00 726,977.70
MTA2F 271,970.00 271,970.00 1,484.50 0.00 1,484.50 0.00 0.00 271,970.00
MTA3F 352,340.00 352,340.00 1,934.93 0.00 1,934.93 0.00 0.00 352,340.00
MTA4F 144,830.00 144,830.00 820.70 0.00 820.70 0.00 0.00 144,830.00
MTA5F 156,050.00 156,050.00 937.60 0.00 937.60 0.00 0.00 156,050.00
MTA6F 190,000.00 190,000.00 1,067.17 0.00 1,067.17 0.00 0.00 190,000.00
MTM1F 132,000.00 132,000.00 788.70 0.00 788.70 0.00 0.00 132,000.00
MTA2F 110,000.00 110,000.00 673.75 0.00 673.75 0.00 0.00 110,000.00
MTB1F 99,000.00 99,000.00 630.30 0.00 630.30 0.00 0.00 99,000.00
MTFIO 0.00 0.00 6,411.21 0.00 6,411.21 0.00 0.00 0.00
MTAM 81,123,170.95 381,123,170.95 2,969,800.58 1,822,143.97 4,791,944.55 0.00 11,881.86 379,312,908.84
MTA1A 840,000.00 840,000.00 4,074.73 15,143.67 19,218.40 0.00 0.00 824,856.33
MTA2A 2,960,000.00 2,960,000.00 15,416.65 15,143.68 30,560.33 0.00 0.00 2,944,856.32
MTAIO 0.00 0.00 10,119.09 0.00 10,119.09 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
============== ============== ============ ============ ============ ==== ========= ==============
TOTALS 605,141,869.73 605,141,869.73 4,857,653.22 2,861,356.98 7,719,010.20 0.00 18,693.01 602,299,205.76
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- --------- ----- --------- ------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 1,000.000000 8.438167 4.550497 12.988664 995.480744 10.125800% 10.122691%
MTA1F 1,000.000000 5.129173 22.629838 27.759011 977.370162 6.155000% 5.780000%
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 0.010595 0.000000 0.010595 0.000000 0.000000% 0.000000%
MTAM 1,000.000000 7.792233 4.780984 12.573218 995.250191 9.350680% 9.348523%
MTA1A 1,000.000000 4.850869 18.028179 22.879048 981.971821 5.821037% #N/A
MTA2A 1,000.000000 5.208328 5.116108 10.324436 994.883892 6.250000% 5.875000%
MTAIO 0 0.016721847 0 0.016721847 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: December 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance
</TABLE>
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
1 2 3
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
-------------------------- ------- ------- -------- -------
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 5,556,326.24 870,926.58 0.00 6,427,252.82
PERCENTAGE OF POOL BALANCE 2.53463% 0.39729% 0.00000% 2.93192%
NUMBER OF LOANS 83 13 0 96
PERCENTAGE OF POOL LOANS 2.20101% 0.34474% 0.00000% 2.54574%
Adj Group PRINCIPAL BALANCE 8,740,016.36 429,200.00 58,471.23 9,227,687.59
PERCENTAGE OF POOL BALANCE 2.28150% 0.11204% 0.01526% 2.40880%
NUMBER OF LOANS 95 3 1 99
PERCENTAGE OF POOL LOANS 2.40020% 0.07580% 0.02527% 2.50126%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 104,975.00 170,497.74 110,500.00 385,972.74
PERCENTAGE OF POOL BALANCE 0.04789% 0.07778% 0.05041% 0.17607%
NUMBER OF LOANS 3 3 1 7
PERCENTAGE OF POOL LOANS 0.07955% 0.07955% 0.02652% 0.18563%
Adj Group PRINCIPAL BALANCE 100,350.00 577,788.32 0.00 678,138.32
PERCENTAGE OF POOL BALANCE 0.02620% 0.15083% 0.00000% 0.17702%
NUMBER OF LOANS 3 6 0 9
PERCENTAGE OF POOL LOANS 0.07580% 0.15159% 0.00000% 0.22739%
REO LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
TOTAL
Fixed Group PRINCIPAL BALANCE 5,661,301.24 1,041,424.32 110,500.00 6,813,225.56
PERCENTAGE OF POOL BALANCE 2.58252% 0.47507% 0.05041% 3.10799%
NUMBER OF LOANS 86 16 1 103
PERCENTAGE OF POOL LOANS 2.28056% 0.42429% 0.02652% 2.73137%
Adj Group PRINCIPAL BALANCE 8,840,366.36 1,006,988.32 58,471.23 9,905,825.91
PERCENTAGE OF POOL BALANCE 2.30769% 0.26286% 0.01526% 2.58582%
NUMBER OF LOANS 98 9 1 108
PERCENTAGE OF POOL LOANS 2.47600% 0.22739% 0.02527% 2.72865%
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
-------------------- ----------- --------- -----
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 224,544.78 310,334.20 534,878.98
PREPAYMENTS & CURTAILMENTS 728,569.73 1,367,095.26 2,095,664.99
REPURCHASES/SUBSTITUTIONS 49,000.00 163,120.00 212,120.00
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 1,002,114.51 1,840,549.46 2,842,663.97
SOURCES OF INTEREST
SCHEDULED INTEREST 1,443,396.10 2,306,211.07 3,749,607.17
REPURCHASES/SUBSTITUTIONS 441.82 1,276.72 1,718.54
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 (669,217.28) (1,155,231.42) (1,824,448.70)
LESS: PPIS (699.21) (1,319.28) (2,018.49)
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (60,827.41) (102,635.45) (163,462.86)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 699.21 1,319.28 2,018.49
PLUS: INTEREST ADVANCED AMOUNT 638,286.90 1,097,482.21 1,735,769.11
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 506,162.02 852,307.94 1,358,469.96
TOTAL INTEREST 1,858,242.15 2,999,411.07 4,857,653.22
PERMITTED WITHDRAWALS 0.00 0.00 0.00
TOTAL SOURCES 2,860,356.66 4,839,960.53 7,700,317.19
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 7,700,317.19
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
SERVICING FEES Fixed Group Adj Group Total
- -------------- ----------- ---------- -----
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 91,757.79 160,384.65 252,142.44
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: (699.21) (1,319.28) (2,018.49)
LESS: DELINQUENT SERVICE FEES: (30,930.38) (57,749.21) (88,679.59)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 60,128.20 101,316.16 161,444.36
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- ---------------- ----------- --------- -----
PRIOR PRINCIPAL BALANCE OF POOL: 220,218,698.78 384,923,170.95 605,141,869.73
CURRENT PRINCIPAL BALANCE OF POOL: 219,216,584.29 383,082,621.49 602,299,205.78
GROUP FACTOR 99.54495% 99.52184% 99.53025%
PRIOR NUMBER OF LOANS: 3,789 3,975 7,764
CURRENT NUMBER OF LOANS: 3,771 3,958 7,729
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: 18 17 35
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.62580% 9.85068%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.62269% 9.84852%
WEIGHTED AVERAGE TERM TO MATURITY: 295 355
TRIGGER EVENTS Fixed Group Adj Group
- -------------- ----------- ---------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES > 50% OF SENIOR ENHANCEMENT % ? NO
TARGET LOSS OC 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 % 100.46%
OVERCOLLATERALIZATION Fixed Group Adj Group
- --------------------- ----------- ---------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 681,115.15 1,188,185.74
OVERCOLLATERALIZATION AMOUNT 899,813.95 6,111,356.69
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 21,170,774.55
</TABLE>
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: January 15, 1998
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: 57,000.00
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
PAYMENT TO RESERVE FUND: 0.00
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
Week Beginning Week Ending Rate
12/19/97 12/26/97 5.8800%
12/27/97 01/02/98 5.7400%
01/03/98 01/09/98 6.0140%
01/10/98 01/14/98 5.5700%
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