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)
FEBRUARY 17, 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 1
<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 2
<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: February 23, 1998
Page 3
<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 4
<PAGE>
EXHIBIT 20.1
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- --------- ------- --------- ----- -------- -------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 63,000,000.00 55,560,224.07 292,594.03 1,947,192.44 2,239,786.47 0.00 0.00 53,613,031.63
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 36,250.00 0.00 36,250.00 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 26,107,642.95 07,320.60 3,304,793.59 4,512,114.19 0.00 0.00 222,802,849.36
M1A 27,739,000.00 27,739,000.00 52,691.64 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 5,184,362.68 0.00 0.00 0.00 0.00 1,105,665.31 6,290,027.99
RIII 0 0 0 0 0 0 0 0
-------------- -------------- ------------ ------------ ------------ ---- ------------ --------------
TOTALS 504,137,000.00 483,231,229.70 2,871,727.10 5,251,986.03 8,123,713.13 0.00 1,105,665.31 479,084,908.98
============== ============== ============ ============ ============ ==== ============ ==============
</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 881.908319 4.644350 30.907817 35.552166 851.000502 5.745000% 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 923.800828 4.932711 13.502290 18.435002 910.298537 5.825000% 5.825000%
M1A 00253CDQ7 1,000.000000 5.504583 0.000000 5.504583 1,000.000000 6.005000% 6.005000%
M2A 00253CDR5 1,000.000000 5.697083 0.000000 5.697083 1,000.000000 6.215000% 6.215000%
B1A 00253CDS3 1000 6.072916619 0 6.072916619 1000 0.06625 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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 1 of 8
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS 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 76,884.81 0.00 76,884.81 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 115,327.22 0.00 115,327.22 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,442.41 0.00 38,442.41 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 115,327.21 0.00 115,327.21 0.00 0.00 13,500,000.00
IFB 137,292,995.45 131,092,806.80 1,119,893.95 1,676,442.53 2,796,336.48 0.00 0.00 129,416,364.27
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- ---- --------------
TOTALS 177,792,995.45 171,592,806.80 1,465,875.60 1,676,442.53 3,142,318.13 0.00 0.00 169,916,364.27
============== ============== ============ ============ ============ ==== ==== ==============
</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> <C>
IFA1 1,000.000000 8.542757 0.000000 8.542757 1,000.000000 10.251308% 10.251454%
IFA2 1,000.000000 8.542757 0.000000 8.542757 1,000.000000 10.251308% 10.251454%
IFA3 1,000.000000 8.542758 0.000000 8.542758 1,000.000000 10.251308% 10.251454%
IFA4 1,000.000000 8.542756 0.000000 8.542756 1,000.000000 10.251308% 10.251454%
IFB 954.839731 8.156963 12.210692 20.367656 942.629038 10.251308% 10.251454%
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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 2 of 8
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA 326,345,084.45 311,639,502.80 2,511,516.81 2,469,878.19 4,981,395.00 0.00 0.00 309,169,624.61
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- --------- --------------
TOTALS 326,345,084.45 311,639,502.80 2,511,516.81 2,469,878.19 4,981,395.00 0.00 0.00 309,169,624.61
============== ============== ============ ============ ============ ==== ========= ==============
</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 954.938553 7.695893 7.568302 15.264195 947.370251 9.670854% 9.667187%
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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 3 of 8
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ILAF 174,237,135.54 168,160,950.67 1,205,033.09 1,642,913.67 2,847,946.76 0.00 0.00 166,518,037.00
II1F 630,000.00 555,602.24 3,981.42 19,471.93 23,453.35 0.00 0.00 536,130.31
II2F 207,900.00 207,900.00 1,489.80 0.00 1,489.80 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,791.49 0.00 1,791.49 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 716.60 0.00 716.60 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 859.91 0.00 859.91 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,074.89 0.00 1,074.89 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 700.69 0.00 700.69 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 636.98 0.00 636.98 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 573.28 0.00 573.28 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 382.30 0.00 382.30 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,728,333.89 9,677.66 16,764.43 26,442.09 0.00 2,707.50 1,714,276.96
IIAA 319,818,182.76 305,406,712.73 2,461,286.47 2,420,480.63 4,881,767.10 0.00 0.00 302,986,232.10
II1A 2,447,580.00 2,261,076.44 18,222.12 33,047.93 51,270.05 0.00 0.00 2,228,028.51
II2A 277,390.00 277,390.00 2,235.50 0.00 2,235.50 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,235.50 0.00 2,235.50 0.00 0.00 277,390.00
II4A 261090 261090 2104.14 0 2104.14 0 0 261090
IIMA 3263451.69 3155843.63 17083.94 24698.78 41782.72 0 8349.15 3139494
IIIO* 40500000 40500000 236250 0 236250 0 0 40500000
RII 0 0 0 0 0 0 0 0
-------------- -------------- ------------ ------------- -------------- ---- --------- ---------------
TOTALS 504,138,079.90 483,232,309.60 3,966,335.78 4,157,377.37 8,123,713.15 0.00 11,056.65 479,085,988.88
============== ============== ============ ============= ============== ==== ========= ===============
</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 965.126924 6.916052 9.429182 16.345234 955.697742 8.599141% 8.582986%
II1F 881.908317 6.319714 30.907825 37.227540 851.000492 8.599141% 8.582986%
II2F 1,000.000000 7.165945 0.000000 7.165945 1,000.000000 8.599141% 8.582986%
II3F 1,000.000000 7.165960 0.000000 7.165960 1,000.000000 8.599141% 8.582986%
II4F 1,000.000000 7.166000 0.000000 7.166000 1,000.000000 8.599141% 8.582986%
II5F 1,000.000000 7.165917 0.000000 7.165917 1,000.000000 8.599141% 8.582986%
II6F 1,000.000000 7.165933 0.000000 7.165933 1,000.000000 8.599141% 8.582986%
II7F 1,000.000000 7.165985 0.000000 7.165985 1,000.000000 8.599141% 8.582986%
II8F 1,000.000000 7.165935 0.000000 7.165935 1,000.000000 8.599141% 8.582986%
II10F 1,000.000000 7.165886 0.000000 7.165886 1,000.000000 8.599141% 8.582986%
IIMF 972.099158 5.443187 9.429132 14.872319 964.192856 8.599141% 8.582986%
IIAA 954.938553 7.695893 7.568302 15.264195 947.370251 9.670854% 9.667187%
II1A 923.800832 7.444954 13.502288 20.947242 910.298544 9.670854% 9.667187%
II2A 1,000.000000 8.059050 0.000000 8.059050 1,000.000000 9.670854% 9.667187%
II3A 1000 8.059050434 0 8.059050434 1000 0.096708541 0.096671875
II4A 1000 8.059060094 0 8.059060094 1000 0.096708541 0.096671875
IIMA 967.0263052 5.234929646 7.568299563 12.80322921 962.0163858 0.096708541 0.096671875
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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 4 of 8
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
1 2 3+
DELINQUENT LOAN INFORMATION PAYMENT PAYMENTS PAYMENTS TOTAL
--------------------------- ------- -------- -------- -----
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 4,770,719.52 1,689,475.69 599,329.03 7,059,524.24
PERCENTAGE OF POOL BALANCE 2.80769% 0.99430% 0.35272% 4.15471%
NUMBER OF LOANS 98 30 7 135
PERCENTAGE OF POOL LOANS 3.33333% 1.02041% 0.23810% 4.59184%
Adj Group PRINCIPAL BALANCE 12,445,316.93 3,106,976.65 1,328,671.07 16,880,964.65
PERCENTAGE OF POOL BALANCE 4.02540% 1.00494% 0.42975% 5.46010%
NUMBER OF LOANS 127 35 11 173
PERCENTAGE OF POOL LOANS 3.79444% 1.04571% 0.32865% 5.16881%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 248,856.36 662,288.60 3,496,382.77 4,407,527.73
PERCENTAGE OF POOL BALANCE 0.14646% 0.38977% 2.05771% 2.59394%
NUMBER OF LOANS 2 17 63 82
PERCENTAGE OF POOL LOANS 0.06803% 0.57823% 2.14286% 2.78912%
Adj Group PRINCIPAL BALANCE 505,366.23 2,944,369.44 10,892,608.22 14,342,343.89
PERCENTAGE OF POOL BALANCE 0.16346% 0.95235% 3.52318% 4.63899%
NUMBER OF LOANS 9 37 133 179
PERCENTAGE OF POOL LOANS 0.26890% 1.10547% 3.97371% 5.34807%
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 35,237.09 33,538.11 68,775.20
PERCENTAGE OF POOL BALANCE 0.00000% 0.02074% 0.01974% 0.04048%
NUMBER OF LOANS 0 1 1 2
PERCENTAGE OF POOL LOANS 0.00000% 0.03401% 0.03401% 0.06803%
Adj Group PRINCIPAL BALANCE 178,154.24 78,058.42 183,983.69 440,196.35
PERCENTAGE OF POOL BALANCE 0.05762% 0.02525% 0.05951% 0.14238%
NUMBER OF LOANS 3 2 3 8
PERCENTAGE OF POOL LOANS 0.08963% 0.05976% 0.08963% 0.23902%
TOTAL
Fixed Group PRINCIPAL BALANCE 5,019,575.88 2,387,001.38 4,129,249.91 11,535,827.17
PERCENTAGE OF POOL BALANCE 2.95415% 1.40481% 2.43017% 6.78912%
NUMBER OF LOANS 100 48 71 219
PERCENTAGE OF POOL LOANS 3.40136% 1.63265% 2.41497% 7.44898%
Adj Group PRINCIPAL BALANCE 13,128,837.40 6,129,404.51 12,405,262.98 31,663,504.89
PERCENTAGE OF POOL BALANCE 4.24648% 1.98254% 4.01245% 10.24147%
NUMBER OF LOANS 139 74 147 360
PERCENTAGE OF POOL LOANS 4.15297% 2.21094% 4.39199% 10.75590%
Page 5 of 8
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
-------------------- ----------- --------- -----
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 260,810.79 165,108.74 425,919.53
PREPAYMENTS & CURTAILMENTS 1,415,631.74 2,304,769.45 3,720,401.19
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 1,676,442.53 2,469,878.19 4,146,320.72
SOURCES OF INTEREST
SCHEDULED INTEREST 1,537,372.61 2,641,366.60 4,178,739.21
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 (309,460.05) (627,759.58) (937,219.63)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (58,117.54) (101,091.63) (159,209.17)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 296,080.58 599,001.42 895,082.00
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,465,875.60 2,511,516.81 3,977,392.41
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
3,142,318.13 4,981,395.00 8,123,713.13
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE
8,123,713.13
Page 6 of 8
</TABLE>
Page 6
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
SERVICING FEES Fixed Group Adj Group Total
- -------------- ----------- --------- -----
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 71,497.00 129,849.79 201,346.79
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (13,379.46) (28,758.16) (42,137.62)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 58,117.54 101,091.63 159,209.17
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- ---------------- ----------- --------- -----
PRIOR PRINCIPAL BALANCE OF POOL: 171,592,806.82 311,639,502.80 483,232,309.62
CURRENT PRINCIPAL BALANCE OF POOL: 169,916,364.29 309,169,624.61 479,085,988.90
GROUP FACTOR 95.56977% 94.73703% 95.03071%
PRIOR NUMBER OF LOANS: 2,965 3,375 6,340
CURRENT NUMBER OF LOANS: 2,940 3,347 6,287
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: 25 28 53
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.75131% 10.17085%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.75145% 10.16719%
WEIGHTED AVERAGE TERM TO MATURITY: 282 351
TRIGGER EVENTS Fixed Group Adj Group
- ------------- ----------- ---------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 2.64634% 4.09907%
SENIOR ENHANCEMENT PERCENTAGE 19.56409% 27.66503%
OVERCOLLATERALIZATION Fixed Group Adj Group
- --------------------- ----------- ---------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 270,749.91 834,915.40
OVERCOLLATERALIZATION AMOUNT 511,332.66 4,779,775.25
TARGET OVERCOLLATERALIZATION AMOUNT 889,280.00 9,790,350.00
</TABLE>
Page 7 of 8
Page 7
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 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
Page 8 of 8
</TABLE>
Page 8
<PAGE>
EXHIBIT 20.2
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 74,381,000.00 72,697,770.34 385,177.02 1,503,285.04 1,888,462.06 0.00 0.00 71,194,485.30
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 82,485,632.40 442,292.54 1,585,429.69 2,027,722.23 0.00 0.00 80,900,202.71
A2A 296,000,000.00 294,485,632.40 1,585,927.83 1,585,429.69 3,171,357.52 0.00 0.00 292,900,202.71
C 0.00 1,929,237.62 0.00 0.00 0.00 0.00 1,583,017.97 3,512,255.59
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- ------------ --------------
TOTALS 600,000,000.00 597,217,272.76 3,247,163.10 4,674,144.41 7,921,307.51 0.00 1,583,017.97 594,126,146.32
============== ============== ============ ============ ============ ==== ============ ==============
</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 00253CDU8 977.370166 5.178433 20.210605 25.389038 957.159561 5.780000% 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 981.971814 5.265387 18.874163 24.139550 963.097651 5.849515%* NA
A2A 00253CEE3 994.883893 5.357864 5.356181 10.714046 989.527712 5.875000% 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 Brothers, Inc. 3 Park Plaza
RECORD DATE: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 1 of 7
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 218,018,698.78 217,033,416.57 1,830,900.39 864,181.02 2,695,081.41 0.00 6,303.75 216,175,539.30
LTA1F 743,810.00 726,977.70 6,132.81 15,032.85 21,165.66 0.00 0.00 711,944.85
LTA2F 271,970.00 271,970.00 2,294.35 0.00 2,294.35 0.00 0.00 271,970.00
LTA3F 352,340.00 352,340.00 2,972.35 0.00 2,972.35 0.00 0.00 352,340.00
LTA4F 144,830.00 144,830.00 1,221.79 0.00 1,221.79 0.00 0.00 144,830.00
LTA5F 156,050.00 156,050.00 1,316.44 0.00 1,316.44 0.00 0.00 156,050.00
LTA6F 190,000.00 190,000.00 1,602.85 0.00 1,602.85 0.00 0.00 190,000.00
LTM1F 132,000.00 132,000.00 1,113.56 0.00 1,113.56 0.00 0.00 132,000.00
LTM2F 110,000.00 110,000.00 927.96 0.00 927.96 0.00 0.00 110,000.00
LTB1F 99,000.00 99,000.00 835.15 0.00 835.15 0.00 0.00 99,000.00
LTAM 381,123,170.95 379,312,908.84 2,955,894.67 2,247,650.74 5,203,545.41 0.00 9,005.05 377,074,263.15
LTA1A 840,000.00 824,856.33 6,427.91 15,854.30 22,282.21 0.00 0.00 809,002.03
LTA2A 2,960,000.00 2,944,856.32 22,948.57 15,854.29 38,802.86 0.00 0.00 2,929,002.03
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- --------- --------------
TOTALS 605,141,869.73 602,299,205.76 4,834,588.80 3,158,573.20 7,993,162.00 0.00 15,308.80 599,155,941.36
============== ============== ============ ============ ============ ==== ========= ==============
</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>
LTFM 995.480744 8.397905 3.963793 12.361698 991.545865 10.123236% 10.121815%
LTA1F 977.370162 8.245130 20.210605 28.455735 957.159557 10.123236% 10.121815%
LTA2F 1,000.000000 8.436041 0.000000 8.436041 1,000.000000 10.123236% 10.121815%
LTA3F 1,000.000000 8.436028 0.000000 8.436028 1,000.000000 10.123236% 10.121815%
LTA4F 1,000.000000 8.436028 0.000000 8.436028 1,000.000000 10.123236% 10.121815%
LTA5F 1,000.000000 8.436014 0.000000 8.436014 1,000.000000 10.123236% 10.121815%
LTA6F 1,000.000000 8.436053 0.000000 8.436053 1,000.000000 10.123236% 10.121815%
LTM1F 1,000.000000 8.436061 0.000000 8.436061 1,000.000000 10.123236% 10.121815%
LTM2F 1,000.000000 8.436000 0.000000 8.436000 1,000.000000 10.123236% 10.121815%
LTB1F 1,000.000000 8.435859 0.000000 8.435859 1,000.000000 10.123236% 10.121815%
LTAM 995.250191 7.755746 5.897439 13.653186 989.376380 9.351313% 9.351361%
LTA1A 981.971821 7.652274 18.874167 26.526440 963.097655 9.351313% 9.351361%
LTA2A 994.883892 7.752895 5.356179 13.109074 989.527713 9.351313% 9.351361%
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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 2 of 7
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 218,018,698.78 217,033,416.57 1,830,900.39 864,181.02 2,695,081.41 0.00 6,303.75 216,175,539.30
MTA1F 743,810.00 726,977.70 3,501.61 15,032.85 18,534.46 0.00 0.00 711,944.85
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 6,578.01 0.00 6,578.01 0.00 0.00 0.00
MTAM 381,123,170.95 379,312,908.84 2,955,894.67 2,247,650.74 5,203,545.41 0.00 9,005.05 377,074,263.15
MTA1A 840,000.00 824,856.33 4,020.84 15,854.30 19,875.14 0.00 0.00 809,002.03
MTA2A 2,960,000.00 2,944,856.32 14,417.53 15,854.29 30,271.82 0.00 0.00 2,929,002.03
MTAIO 0.00 0.00 10,938.10 0.00 10,938.10 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- --------- --------------
TOTALS 605,141,869.73 602,299,205.76 4,834,588.80 3,158,573.20 7,993,162.00 0.00 15,308.00 599,155,941.36
============== ============== ============ ============ ============ ==== ========= ==============
</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>
MTFM 995.480744 8.397905 3.963793 12.361698 991.545865 10.123236% 10.121815%
MTA1F 977.370162 4.707667 20.210605 24.918272 957.159557 5.780000% 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 0.010870 0.000000 0.010870 0.000000 0.000000% 0.000000%
MTAM 995.250191 7.755746 5.897439 13.653186 989.376380 9.351313% 9.351361%
MTA1A 981.971821 4.786714 18.874167 23.660881 963.097655 5.849515% #N/A
MTA2A 994.883892 4.870787 5.356179 10.226966 989.527713 5.875000% 5.875000%
MTAIO 0 0.018075266 0 0.018075266 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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 3 of 7
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
--------------------------- ------- -------- -------- -----
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 5,381,530.35 1,255,040.46 387,190.02 7,023,760.83
PERCENTAGE OF POOL BALANCE 2.46471% 0.57480% 0.17733% 3.21684%
NUMBER OF LOANS 105 18 7 130
PERCENTAGE OF POOL LOANS 2.79553% 0.47923% 0.18637% 3.46113%
Adj Group PRINCIPAL BALANCE 10,119,371.03 2,361,322.95 48,750.00 12,529,443.98
PERCENTAGE OF POOL BALANCE 2.65731% 0.62008% 0.01280% 3.29019%
NUMBER OF LOANS 106 29 1 136
PERCENTAGE OF POOL LOANS 2.69241% 0.73660% 0.02540% 3.45441%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 47,391.07 335,332.94 573,915.21 956,639.22
PERCENTAGE OF POOL BALANCE 0.02170% 0.15358% 0.26285% 0.43813%
NUMBER OF LOANS 1 9 6 16
PERCENTAGE OF POOL LOANS 0.02662% 0.23962% 0.15974% 0.42599%
Adj Group PRINCIPAL BALANCE 384,893.75 2,070,874.99 577,788.32 3,033,557.06
PERCENTAGE OF POOL BALANCE 0.10107% 0.54380% 0.15173% 0.79660%
NUMBER OF LOANS 3 27 6 36
PERCENTAGE OF POOL LOANS 0.07620% 0.68580% 0.15240% 0.91440%
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 38,500.00 0.00 0.00 38,500.00
PERCENTAGE OF POOL BALANCE 0.01763% 0.00000% 0.00000% 0.01763%
NUMBER OF LOANS 1 0 0 1
PERCENTAGE OF POOL LOANS 0.02662% 0.00000% 0.00000% 0.02662%
Adj Group PRINCIPAL BALANCE 162,350.00 95,965.77 0.00 258,315.77
PERCENTAGE OF POOL BALANCE 0.04263% 0.02520% 0.00000% 0.06783%
NUMBER OF LOANS 1 1 0 2
PERCENTAGE OF POOL LOANS 0.02540% 0.02540% 0.00000% 0.05080%
TOTAL
Fixed Group PRINCIPAL BALANCE 5,467,421.42 1,590,373.40 961,105.23 8,018,900.05
PERCENTAGE OF POOL BALANCE 2.50404% 0.72838% 0.44018% 3.67260%
NUMBER OF LOANS 107 27 13 147
PERCENTAGE OF POOL LOANS 2.84878% 0.71885% 0.34611% 3.91374%
Adj Group PRINCIPAL BALANCE 10,666,614.78 4,528,163.71 626,538.32 15,821,316.81
PERCENTAGE OF POOL BALANCE 2.80102% 1.18908% 0.16453% 4.15462%
NUMBER OF LOANS 110 57 7 174
PERCENTAGE OF POOL LOANS 2.79401% 1.44780% 0.17780% 4.41961%
Page 4 of 7
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
-------------------- ----------- --------- -----
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 291,119.30 206,684.39 497,803.69
PREPAYMENTS & CURTAILMENTS 581,790.82 2,063,669.89 2,645,460.71
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 872,910.12 2,270,354.28 3,143,264.40
SOURCES OF INTEREST
SCHEDULED INTEREST 1,882,237.14 2,938,460.22 4,820,697.36
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 (360,945.22) (623,712.45) (984,657.67)
LESS: PPIS (18.23) 0.00 (18.23)
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (75,344.00) (129,808.74) (205,152.74)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 18.23 0.00 18.23
PLUS: INTEREST ADVANCED AMOUNT 344,948.97 593,903.44 938,852.41
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 58,420.76 206,428.68 264,849.44
TOTAL INTEREST 1,849,317.65 2,985,271.15 4,834,588.80
PERMITTED WITHDRAWALS 0.00 0.00 0.00
TOTAL SOURCES 2,722,227.77 5,255,625.43 7,977,853.20
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 7,977,853.20
Page 5 of 7
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
SERVICING FEES Fixed Group Adj Group Total
- -------------- ----------- --------- -----
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 91,340.24 159,617.76 250,958.00
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: (18.23) 0.00 (18.23)
LESS: DELINQUENT SERVICE FEES: (15,996.24) (29,809.02) (45,805.26)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 75,325.77 129,808.74 205,134.51
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- ---------------- ----------- --------- -----
PRIOR PRINCIPAL BALANCE OF POOL: 219,216,584.29 383,082,621.49 602,299,205.78
CURRENT PRINCIPAL BALANCE OF POOL: 218,343,674.17 380,812,267.21 599,155,941.38
GROUP FACTOR 99.14856% 98.93202% 99.01082%
PRIOR NUMBER OF LOANS: 3,771 3,958 7,729
CURRENT NUMBER OF LOANS: 3,756 3,937 7,693
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: 15 21 36
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.62324% 9.85131%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.62181% 9.85136%
WEIGHTED AVERAGE TERM TO MATURITY: 294 354
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 % 100.40%
OVERCOLLATERALIZATION Fixed Group Adj Group
- --------------------- ----------- ---------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 630,374.92 900,505.09
OVERCOLLATERALIZATION AMOUNT 1,530,188.87 7,011,861.78
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 21,170,774.55
Page 6 of 7
</TABLE>
Page 6
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 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: 56,545.69
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
PAYMENT TO RESERVE FUND:
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
Week Beginning Week Ending Rate
01/15/98 01/16/98 5.5920%
01/17/98 01/23/98 6.2200%
01/24/98 01/30/98 5.7100%
01/31/98 02/06/98 5.7800%
02/07/98 02/13/98 5.7880%
02/14/98 02/16/98 5.7880%
Page 7 of 7
</TABLE>
Page 7
<PAGE>
EXHIBIT 20.2
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 74,381,000.00 72,697,770.34 385,177.02 1,503,285.04 1,888,462.06 0.00 0.00 71,194,485.30
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 82,485,632.40 442,292.54 1,585,429.69 2,027,722.23 0.00 0.00 80,900,202.71
A2A 296,000,000.00 294,485,632.40 1,585,927.83 1,585,429.69 3,171,357.52 0.00 0.00 292,900,202.71
C 0.00 1,929,237.62 0.00 0.00 0.00 0.00 1,583,017.97 3,512,255.59
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- ------------ --------------
TOTALS 600,000,000.00 597,217,272.76 3,247,163.10 4,674,144.41 7,921,307.51 0.00 1,583,017.97 594,126,146.32
============== ============== ============ ============ ============ ==== ============ ==============
</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 00253CDU8 977.370166 5.178433 20.210605 25.389038 957.159561 5.780000% 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 981.971814 5.265387 18.874163 24.139550 963.097651 5.849515%* NA
A2A 00253CEE3 994.883893 5.357864 5.356181 10.714046 989.527712 5.875000% 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 Brothers, Inc. 3 Park Plaza
RECORD DATE: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 1 of 7
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 218,018,698.78 217,033,416.57 1,830,900.39 864,181.02 2,695,081.41 0.00 6,303.75 216,175,539.30
LTA1F 743,810.00 726,977.70 6,132.81 15,032.85 21,165.66 0.00 0.00 711,944.85
LTA2F 271,970.00 271,970.00 2,294.35 0.00 2,294.35 0.00 0.00 271,970.00
LTA3F 352,340.00 352,340.00 2,972.35 0.00 2,972.35 0.00 0.00 352,340.00
LTA4F 144,830.00 144,830.00 1,221.79 0.00 1,221.79 0.00 0.00 144,830.00
LTA5F 156,050.00 156,050.00 1,316.44 0.00 1,316.44 0.00 0.00 156,050.00
LTA6F 190,000.00 190,000.00 1,602.85 0.00 1,602.85 0.00 0.00 190,000.00
LTM1F 132,000.00 132,000.00 1,113.56 0.00 1,113.56 0.00 0.00 132,000.00
LTM2F 110,000.00 110,000.00 927.96 0.00 927.96 0.00 0.00 110,000.00
LTB1F 99,000.00 99,000.00 835.15 0.00 835.15 0.00 0.00 99,000.00
LTAM 381,123,170.95 379,312,908.84 2,955,894.67 2,247,650.74 5,203,545.41 0.00 9,005.05 377,074,263.15
LTA1A 840,000.00 824,856.33 6,427.91 15,854.30 22,282.21 0.00 0.00 809,002.03
LTA2A 2,960,000.00 2,944,856.32 22,948.57 15,854.29 38,802.86 0.00 0.00 2,929,002.03
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- --------- --------------
TOTALS 605,141,869.73 602,299,205.76 4,834,588.80 3,158,573.20 7,993,162.00 0.00 15,308.80 599,155,941.36
============== ============== ============ ============ ============ ==== ========= ==============
</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>
LTFM 995.480744 8.397905 3.963793 12.361698 991.545865 10.123236% 10.121815%
LTA1F 977.370162 8.245130 20.210605 28.455735 957.159557 10.123236% 10.121815%
LTA2F 1,000.000000 8.436041 0.000000 8.436041 1,000.000000 10.123236% 10.121815%
LTA3F 1,000.000000 8.436028 0.000000 8.436028 1,000.000000 10.123236% 10.121815%
LTA4F 1,000.000000 8.436028 0.000000 8.436028 1,000.000000 10.123236% 10.121815%
LTA5F 1,000.000000 8.436014 0.000000 8.436014 1,000.000000 10.123236% 10.121815%
LTA6F 1,000.000000 8.436053 0.000000 8.436053 1,000.000000 10.123236% 10.121815%
LTM1F 1,000.000000 8.436061 0.000000 8.436061 1,000.000000 10.123236% 10.121815%
LTM2F 1,000.000000 8.436000 0.000000 8.436000 1,000.000000 10.123236% 10.121815%
LTB1F 1,000.000000 8.435859 0.000000 8.435859 1,000.000000 10.123236% 10.121815%
LTAM 995.250191 7.755746 5.897439 13.653186 989.376380 9.351313% 9.351361%
LTA1A 981.971821 7.652274 18.874167 26.526440 963.097655 9.351313% 9.351361%
LTA2A 994.883892 7.752895 5.356179 13.109074 989.527713 9.351313% 9.351361%
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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 2 of 7
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- ---------- --------- ---------- ------ -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 218,018,698.78 217,033,416.57 1,830,900.39 864,181.02 2,695,081.41 0.00 6,303.75 216,175,539.30
MTA1F 743,810.00 726,977.70 3,501.61 15,032.85 18,534.46 0.00 0.00 711,944.85
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 6,578.01 0.00 6,578.01 0.00 0.00 0.00
MTAM 381,123,170.95 379,312,908.84 2,955,894.67 2,247,650.74 5,203,545.41 0.00 9,005.05 377,074,263.15
MTA1A 840,000.00 824,856.33 4,020.84 15,854.30 19,875.14 0.00 0.00 809,002.03
MTA2A 2,960,000.00 2,944,856.32 14,417.53 15,854.29 30,271.82 0.00 0.00 2,929,002.03
MTAIO 0.00 0.00 10,938.10 0.00 10,938.10 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ------------ ------------ ------------ ---- --------- --------------
TOTALS 605,141,869.73 602,299,205.76 4,834,588.80 3,158,573.20 7,993,162.00 0.00 15,308.00 599,155,941.36
============== ============== ============ ============ ============ ==== ========= ==============
</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>
MTFM 995.480744 8.397905 3.963793 12.361698 991.545865 10.123236% 10.121815%
MTA1F 977.370162 4.707667 20.210605 24.918272 957.159557 5.780000% 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 0.010870 0.000000 0.010870 0.000000 0.000000% 0.000000%
MTAM 995.250191 7.755746 5.897439 13.653186 989.376380 9.351313% 9.351361%
MTA1A 981.971821 4.786714 18.874167 23.660881 963.097655 5.849515% #N/A
MTA2A 994.883892 4.870787 5.356179 10.226966 989.527713 5.875000% 5.875000%
MTAIO 0 0.018075266 0 0.018075266 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: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 3 of 7
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
--------------------------- ------- -------- -------- -----
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 5,381,530.35 1,255,040.46 387,190.02 7,023,760.83
PERCENTAGE OF POOL BALANCE 2.46471% 0.57480% 0.17733% 3.21684%
NUMBER OF LOANS 105 18 7 130
PERCENTAGE OF POOL LOANS 2.79553% 0.47923% 0.18637% 3.46113%
Adj Group PRINCIPAL BALANCE 10,119,371.03 2,361,322.95 48,750.00 12,529,443.98
PERCENTAGE OF POOL BALANCE 2.65731% 0.62008% 0.01280% 3.29019%
NUMBER OF LOANS 106 29 1 136
PERCENTAGE OF POOL LOANS 2.69241% 0.73660% 0.02540% 3.45441%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 47,391.07 335,332.94 573,915.21 956,639.22
PERCENTAGE OF POOL BALANCE 0.02170% 0.15358% 0.26285% 0.43813%
NUMBER OF LOANS 1 9 6 16
PERCENTAGE OF POOL LOANS 0.02662% 0.23962% 0.15974% 0.42599%
Adj Group PRINCIPAL BALANCE 384,893.75 2,070,874.99 577,788.32 3,033,557.06
PERCENTAGE OF POOL BALANCE 0.10107% 0.54380% 0.15173% 0.79660%
NUMBER OF LOANS 3 27 6 36
PERCENTAGE OF POOL LOANS 0.07620% 0.68580% 0.15240% 0.91440%
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 38,500.00 0.00 0.00 38,500.00
PERCENTAGE OF POOL BALANCE 0.01763% 0.00000% 0.00000% 0.01763%
NUMBER OF LOANS 1 0 0 1
PERCENTAGE OF POOL LOANS 0.02662% 0.00000% 0.00000% 0.02662%
Adj Group PRINCIPAL BALANCE 162,350.00 95,965.77 0.00 258,315.77
PERCENTAGE OF POOL BALANCE 0.04263% 0.02520% 0.00000% 0.06783%
NUMBER OF LOANS 1 1 0 2
PERCENTAGE OF POOL LOANS 0.02540% 0.02540% 0.00000% 0.05080%
TOTAL
Fixed Group PRINCIPAL BALANCE 5,467,421.42 1,590,373.40 961,105.23 8,018,900.05
PERCENTAGE OF POOL BALANCE 2.50404% 0.72838% 0.44018% 3.67260%
NUMBER OF LOANS 107 27 13 147
PERCENTAGE OF POOL LOANS 2.84878% 0.71885% 0.34611% 3.91374%
Adj Group PRINCIPAL BALANCE 10,666,614.78 4,528,163.71 626,538.32 15,821,316.81
PERCENTAGE OF POOL BALANCE 2.80102% 1.18908% 0.16453% 4.15462%
NUMBER OF LOANS 110 57 7 174
PERCENTAGE OF POOL LOANS 2.79401% 1.44780% 0.17780% 4.41961%
Page 4 of 7
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
-------------------- ----------- --------- -----
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 291,119.30 206,684.39 497,803.69
PREPAYMENTS & CURTAILMENTS 581,790.82 2,063,669.89 2,645,460.71
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 872,910.12 2,270,354.28 3,143,264.40
SOURCES OF INTEREST
SCHEDULED INTEREST 1,882,237.14 2,938,460.22 4,820,697.36
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 (360,945.22) (623,712.45) (984,657.67)
LESS: PPIS (18.23) 0.00 (18.23)
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (75,344.00) (129,808.74) (205,152.74)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 18.23 0.00 18.23
PLUS: INTEREST ADVANCED AMOUNT 344,948.97 593,903.44 938,852.41
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 58,420.76 206,428.68 264,849.44
TOTAL INTEREST 1,849,317.65 2,985,271.15 4,834,588.80
PERMITTED WITHDRAWALS 0.00 0.00 0.00
TOTAL SOURCES 2,722,227.77 5,255,625.43 7,977,853.20
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 7,977,853.20
Page 5 of 7
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 1998
SERVICING FEES Fixed Group Adj Group Total
- -------------- ----------- --------- -----
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 91,340.24 159,617.76 250,958.00
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: (18.23) 0.00 (18.23)
LESS: DELINQUENT SERVICE FEES: (15,996.24) (29,809.02) (45,805.26)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 75,325.77 129,808.74 205,134.51
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
- ---------------- ----------- --------- -----
PRIOR PRINCIPAL BALANCE OF POOL: 219,216,584.29 383,082,621.49 602,299,205.78
CURRENT PRINCIPAL BALANCE OF POOL: 218,343,674.17 380,812,267.21 599,155,941.38
GROUP FACTOR 99.14856% 98.93202% 99.01082%
PRIOR NUMBER OF LOANS: 3,771 3,958 7,729
CURRENT NUMBER OF LOANS: 3,756 3,937 7,693
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: 15 21 36
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.62324% 9.85131%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.62181% 9.85136%
WEIGHTED AVERAGE TERM TO MATURITY: 294 354
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 % 100.40%
OVERCOLLATERALIZATION Fixed Group Adj Group
- --------------------- ----------- ---------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 630,374.92 900,505.09
OVERCOLLATERALIZATION AMOUNT 1,530,188.87 7,011,861.78
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 21,170,774.55
Page 6 of 7
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<CAPTION>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: February 17, 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: 56,545.69
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
PAYMENT TO RESERVE FUND:
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
Week Beginning Week Ending Rate
01/15/98 01/16/98 5.5920%
01/17/98 01/23/98 6.2200%
01/24/98 01/30/98 5.7100%
01/31/98 02/06/98 5.7800%
02/07/98 02/13/98 5.7880%
02/14/98 02/16/98 5.7880%
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