======================================
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)
March 16, 1998
AAMES CAPITAL COPORATION
-------------------------
(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: March 27, 1998
<PAGE>
INDEX TO EXHIBITS
Exhibit
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-C - Statement to Certificateholders
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-D - Statement to Certificateholders
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 53,613,031.63 231,005.15 2,338,971.47 2,569,976.62 0.00 0.00 51,274,060.16
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 244,758,000.00 222,802,849.36 973,369.95 5,098,053.90 6,071,423.85 0.00 0.00 217,704,795.46
M1A 27,739,000.00 27,739,000.00 124,929.52 0.00 124,929.52 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 129,298.41 0.00 129,298.41 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 129,729.09 0.00 129,729.09 0.00 0.00 26,109,000.00
C 0.00 6,290,027.99 0.00 0.00 0.00 0.00 1,464,596.27 7,754,624.26
RIII 0 0 0 0 0 0 0 0
TOTAL 504,137,000.00 479,084,908.98 2,490,863.78 7,437,025.37 9,927,889.15 0.00 1,464,596.27 473,112,479.88
</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>
A1F 00253CDC8 851.000502 3.666748 37.126531 40.793280 813.873971 5.745000% 5.807500%
A2F 00253CDD6 1,000.000000 5.429167 0.000000 5.429167 1,000.000000 6.515000% 6.515000%
A3F 00253CDE4 1,000.000000 5.495833 0.000000 5.495833 1,000.000000 6.595000% 6.595000%
A4F 00253CDF1 1,000.000000 5.745833 0.000000 5.745833 1,000.000000 6.895000% 6.895000%
A5F 00253CDG9 1,000.000000 6.045833 0.000000 6.045833 1,000.000000 7.255000% 7.255000%
A6F 00253CDH7 1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000% 6.890000%
AIO* 00253CDJ3 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
M1F 00253CDK0 1,000.000000 5.933333 0.000000 5.933333 1,000.000000 7.120000% 7.120000%
M2F 00253CDL8 1,000.000000 6.095833 0.000000 6.095833 1,000.000000 7.315000% 7.315000%
BF1 00253CDM6 1,000.000000 6.375000 0.000000 6.375000 1,000.000000 7.650000% 7.650000%
BF2 00253CDT1 1,000.000000 6.875001 0.000000 6.875001 1,000.000000 8.250000% 8.250000%
A1A 00253CDN4 910.298537 3.976867 20.828957 24.805824 889.469580 5.825000% 5.887500%
M1A 00253CDQ7 1,000.000000 4.503750 0.000000 4.503750 1,000.000000 6.005000% 6.067500%
M2A 00253CDR5 1,000.000000 4.661250 0.000000 4.661250 1,000.000000 6.215000% 6.277500%
B1A 00253CDS3 1000 4.968749856 0 4.968749856 1000 0.06625 0.066875
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: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 1 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 9,000,000.00 9,000,000.00 76,885.90 0.00 76,885.90 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 115,328.85 0.00 115,328.85 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,442.95 0.00 38,442.95 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 115,328.85 0.00 115,328.85 0.00 0.00 13,500,000.00
IFB 137,292,995.45 129,416,364.27 1,105,588.23 2,020,933.50 3,126,521.73 0.00 0.00 127,395,430.77
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 177,792,995.45 169,916,364.27 1,451,574.78 2,020,933.50 3,472,508.28 0.00 0.00 167,895,430.77
</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 8.542878 0.000000 8.542878 1,000.000000 10.251454% 10.246614%
IFA2 1,000.000000 8.542878 0.000000 8.542878 1,000.000000 10.251454% 10.246614%
IFA3 1,000.000000 8.542878 0.000000 8.542878 1,000.000000 10.251454% 10.246614%
IFA4 1,000.000000 8.542878 0.000000 8.542878 1,000.000000 10.251454% 10.246614%
IFB 942.629038 8.052765 14.719859 22.772624 927.909180 10.251454% 10.246614%
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: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 2 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA 326,345,084.45 309,169,624.61 2,503,885.27 3,951,495.60 6,455,380.87 0.00 0.00 305,218,129.01
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 326,345,084.45 309,169,624.61 2,503,885.27 3,951,495.60 6,455,380.87 0.00 0.00 305,218,129.01
</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 947.370251 7.672508 12.108335 19.780843 935.261916 9.718491% 9.719191%
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: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 3 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 174,237,135.54 166,518,037.00 1,191,018.28 1,980,514.82 3,171,533.10 0.00 0.00 164,537,522.18
II1F 630,000.00 536,130.31 3,834.67 23,389.72 27,224.39 0.00 0.00 512,740.59
II2F 207,900.00 207,900.00 1,487.00 0.00 1,487.00 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,788.12 0.00 1,788.12 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 715.25 0.00 715.25 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 858.30 0.00 858.30 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,072.87 0.00 1,072.87 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 699.37 0.00 699.37 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 635.78 0.00 635.78 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 572.20 0.00 572.20 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 381.59 0.00 381.59 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,714,276.96 9,080.97 20,209.34 29,290.31 0.00 3,180.38 1,697,248.00
IIAA 319,818,182.76 302,986,232.10 2,453,807.56 3,872,465.68 6,326,273.24 0.00 0.00 299,113,766.42
II1A 2,447,580.00 2,228,028.51 18,044.23 50,980.54 69,024.77 0.00 0.00 2,177,047.97
II2A 277,390.00 277,390.00 2,246.51 0.00 2,246.51 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,246.51 0.00 2,246.51 0.00 0.00 277,390.00
II4A 261090 261090 2114.5 0 2114.5 0 0 261090
IIMA 3263451.69 3139494 13960.37 39514.96 53475.33 0 11465.58 3111444.62
IIIO* 40500000 40500000 236250 0 236250 0 0 40500000
RII 0 0 0 0 0 0 0 0
TOTAL 504,138,079.90 479,085,988.88 3,940,814.08 5,987,075.06 9,927,889.14 0.00 14,645.96 473,113,559.78
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 955.697742 6.835617 11.366778 18.202395 944.330964 8.582986% 8.558063%
II1F 851.000492 6.086778 37.126540 43.213317 813.873952 8.582986% 8.558063%
II2F 1,000.000000 7.152477 0.000000 7.152477 1,000.000000 8.582986% 8.558063%
II3F 1,000.000000 7.152480 0.000000 7.152480 1,000.000000 8.582986% 8.558063%
II4F 1,000.000000 7.152500 0.000000 7.152500 1,000.000000 8.582986% 8.558063%
II5F 1,000.000000 7.152500 0.000000 7.152500 1,000.000000 8.582986% 8.558063%
II6F 1,000.000000 7.152467 0.000000 7.152467 1,000.000000 8.582986% 8.558063%
II7F 1,000.000000 7.152485 0.000000 7.152485 1,000.000000 8.582986% 8.558063%
II8F 1,000.000000 7.152436 0.000000 7.152436 1,000.000000 8.582986% 8.558063%
II10F 1,000.000000 7.152577 0.000000 7.152577 1,000.000000 8.582986% 8.558063%
IIMF 964.192856 5.107580 11.366717 16.474297 954.614940 8.582986% 8.558063%
IIAA 947.370251 7.672508 12.108335 19.780843 935.261916 9.718491% 9.719191%
II1A 910.298544 7.372274 20.828958 28.201231 889.469586 9.718491% 9.719191%
II2A 1,000.000000 8.098742 0.000000 8.098742 1,000.000000 9.718491% 9.719191%
II3A 1000 8.098741844 0 8.098741844 1000 0.097184913 0.097191912
II4A 1000 8.098739898 0 8.098739898 1000 0.097184913 0.097191912
IIMA 962.0163858 4.277792756 12.10833306 16.38612582 953.4213819 0.097184913 0.097191912
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: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 4 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
Fixed PRINCIPAL BALANCE 5,393,411.26 1,033,307.84 591,129.58 7,017,848.68
PERCENTAGE OF POOL BALANCE 3.21236% 0.61545% 0.35208% 4.17989%
NUMBER OF LOANS 95 19 12 126
PERCENTAGE OF POOL LOANS 3.27248% 0.65450% 0.41337% 4.34034%
Adj G PRINCIPAL BALANCE 11,372,505.43 2,025,492.41 1,851,680.76 15,249,678.60
PERCENTAGE OF POOL BALANCE 3.72603% 0.66362% 0.60667% 4.99632%
NUMBER OF LOANS 126 23 17 166
PERCENTAGE OF POOL LOANS 3.80895% 0.69528% 0.51391% 5.01814%
FORECLOSURE LOAN INFORMATION
Fixed PRINCIPAL BALANCE 29,390.61 1,538,907.45 3,856,731.66 5,425,029.72
PERCENTAGE OF POOL BALANCE 0.01751% 0.91659% 2.29710% 3.23120%
NUMBER OF LOANS 1 21 73 95
PERCENTAGE OF POOL LOANS 0.03445% 0.72339% 2.51464% 3.27248%
Adj G PRINCIPAL BALANCE 127,353.44 3,563,161.06 13,905,281.46 17,595,795.96
PERCENTAGE OF POOL BALANCE 0.04173% 1.16741% 4.55585% 5.76499%
NUMBER OF LOANS 1 38 169 208
PERCENTAGE OF POOL LOANS 0.03023% 1.14873% 5.10883% 6.28779%
REO LOAN INFORMATION
Fixed PRINCIPAL BALANCE 0.00 0.00 99,471.59 99,471.59
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.05925% 0.05925%
NUMBER OF LOANS 0 0 2 2
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.06889% 0.06889%
Adj G 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 PRINCIPAL BALANCE 132,595.72 35,224.06 33,538.11 201,357.89
PERCENTAGE OF POOL BALANCE 0.07898% 0.02098% 0.01998% 0.11993%
NUMBER OF LOANS 2 1 1 4
PERCENTAGE OF POOL LOANS 0.06889% 0.03445% 0.03445% 0.13779%
Adj G PRINCIPAL BALANCE 233,330.94 349,282.09 183,983.69 766,596.72
PERCENTAGE OF POOL BALANCE 0.07645% 0.11444% 0.06028% 0.25116%
NUMBER OF LOANS 3 3 3 9
PERCENTAGE OF POOL LOANS 0.09069% 0.09069% 0.09069% 0.27207%
TOTAL
Fixed PRINCIPAL BALANCE 5,555,397.59 2,607,439.35 4,580,870.94 12,743,707.88
PERCENTAGE OF POOL BALANCE 3.30884% 1.55301% 2.72841% 7.59026%
NUMBER OF LOANS 98 41 88 227
PERCENTAGE OF POOL LOANS 3.37582% 1.41233% 3.03135% 7.81950%
Adj G PRINCIPAL BALANCE 11,733,189.81 5,937,935.56 15,940,945.91 33,612,071.28
PERCENTAGE OF POOL BALANCE 3.84420% 1.94547% 5.22280% 11.01248%
NUMBER OF LOANS 130 64 189 383
PERCENTAGE OF POOL LOANS 3.92987% 1.93470% 5.71342% 11.57799%
</TABLE>
Page 5 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificate holders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 239,239.88 156,581.13 395,821.01
PREPAYMENTS & CURTAILMENTS 1,781,693.62 3,794,914.47 5,576,608.09
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 2,020,933.50 3,951,495.60 5,972,429.10
SOURCES OF INTEREST
SCHEDULED INTEREST 1,522,373.26 2,632,705.94 4,155,079.20
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 (325,238.32) (690,550.11) (1,015,788.43)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (56,761.19) (97,175.10) (153,936.29)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 311,201.03 658,904.54 970,105.57
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,451,574.78 2,503,885.27 3,955,460.05
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
3,472,508.28 6,455,380.87 9,927,889.15
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 9,927,889.15
</TABLE>
Page 6 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
SERVICING FEES Fixed Group Adj Group Total
<C> <S> <S> <S>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 70,798.49 128,820.68 199,619.17
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (14,037.29) (31,645.58) (45,682.87)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 56,761.20 97,175.10 153,936.30
AMOUNT PER $1000 CERTIFICATE:
</TABLE>
<TABLE>
<CAPTION>
POOL INFORMATION Fixed Group Adj Group Total
<C> <S> <S> <S>
PRIOR PRINCIPAL BALANCE OF POOL: 169,916,364.29 309,169,624.61 479,085,988.90
CURRENT PRINCIPAL BALANCE OF POOL: 167,895,430.79 305,218,129.01 473,113,559.80
GROUP FACTOR 94.43310% 93.52619% 93.84603%
PRIOR NUMBER OF LOANS: 2,940 3,347 6,287
CURRENT NUMBER OF LOANS: 2,903 3,308 6,211
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: 37 39 76
</TABLE>
<TABLE>
<CAPTION>
<C> <S> <S>
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.75145% 10.21849%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.74661% 10.21919%
WEIGHTED AVERAGE TERM TO MATURITY: 281 350
</TABLE>
<TABLE>
<CAPTION>
TRIGGER EVENTS Fixed Group Adj Group
<C> <S> <S>
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 3.60336% 5.74922%
SENIOR ENHANCEMENT PERCENTAGE 19.96084% 28.29674%
</TABLE>
<TABLE>
<CAPTION>
OVERCOLLATERALIZATION Fixed Group Adj Group
<C> <S> <S>
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 318,037.97 1,146,558.30
OVERCOLLATERALIZATION AMOUNT 1,829,370.63 5,926,333.55
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
</TABLE>
Page 7 of 8
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
INTEREST CARRY FORWARD AMOUNT Prior Current
<C> <S> <S>
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>
EXHIBIT 20.2
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 74,381,000.00 71,194,485.30 308,628.09 2,203,259.47 2,511,887.56 0.00 0.00 68,991,225.83
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 80,900,202.71 353,097.92 2,313,272.35 2,666,370.27 0.00 0.00 78,586,930.37
A2A 296,000,000.00 292,900,202.71 1,290,591.52 2,313,272.35 3,603,863.87 0.00 0.00 290,586,930.37
C 0.00 3,512,255.59 0.00 0.00 0.00 0.00 2,030,210.70 5,542,466.29
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 600,000,000.00 594,126,146.32 2,786,083.24 6,829,804.17 9,615,887.41 0.00 2,030,210.70 589,326,552.85
</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 957.159561 4.149287 29.621267 33.770554 927.538294 5.780000% 5.842500%
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 963.097651 4.203547 27.538957 31.742503 935.558695 5.819481% *NA
A2A 00253CEE3 989.527712 4.360106 7.815109 12.175216 981.712603 5.875000% 5.937500%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
RIII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Class A-1A Current Pass-Through Rate is a average weekly rate
Page 1 of 7
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 218,018,698.78 216,175,539.30 1,823,407.28 1,488,918.53 3,312,325.81 0.00 6,993.01 214,693,613.78
LTA1F 743,810.00 711,944.85 6,005.14 22,032.59 28,037.73 0.00 0.00 689,912.26
LTA2F 271,970.00 271,970.00 2,294.02 0.00 2,294.02 0.00 0.00 271,970.00
LTA3F 352,340.00 352,340.00 2,971.93 0.00 2,971.93 0.00 0.00 352,340.00
LTA4F 144,830.00 144,830.00 1,221.62 0.00 1,221.62 0.00 0.00 144,830.00
LTA5F 156,050.00 156,050.00 1,316.26 0.00 1,316.26 0.00 0.00 156,050.00
LTA6F 190,000.00 190,000.00 1,602.62 0.00 1,602.62 0.00 0.00 190,000.00
LTM1F 132,000.00 132,000.00 1,113.40 0.00 1,113.40 0.00 0.00 132,000.00
LTM2F 110,000.00 110,000.00 927.83 0.00 927.83 0.00 0.00 110,000.00
LTB1F 99,000.00 99,000.00 835.06 0.00 835.06 0.00 0.00 99,000.00
LTAM 381,123,170.95 377,074,263.15 2,941,096.67 3,322,491.40 6,263,588.07 0.00 12,704.93 373,764,476.68
LTA1A 840,000.00 809,002.03 6,310.04 23,132.73 29,442.77 0.00 0.00 785,869.30
LTA2A 2,960,000.00 2,929,002.03 22,845.57 23,132.72 45,978.29 0.00 0.00 2,905,869.31
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 605,141,869.73 599,155,941.36 4,811,947.44 4,879,707.97 9,691,655.41 0.00 19,697.94 594,295,931.33
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 991.545865 8.363536 6.829316 15.192852 984.748625 10.121815% 10.120442%
LTA1F 957.159557 8.073487 29.621261 37.694747 927.538296 10.121815% 10.120442%
LTA2F 1,000.000000 8.434827 0.000000 8.434827 1,000.000000 10.121815% 10.120442%
LTA3F 1,000.000000 8.434836 0.000000 8.434836 1,000.000000 10.121815% 10.120442%
LTA4F 1,000.000000 8.434855 0.000000 8.434855 1,000.000000 10.121815% 10.120442%
LTA5F 1,000.000000 8.434861 0.000000 8.434861 1,000.000000 10.121815% 10.120442%
LTA6F 1,000.000000 8.434842 0.000000 8.434842 1,000.000000 10.121815% 10.120442%
LTM1F 1,000.000000 8.434848 0.000000 8.434848 1,000.000000 10.121815% 10.120442%
LTM2F 1,000.000000 8.434818 0.000000 8.434818 1,000.000000 10.121815% 10.120442%
LTB1F 1,000.000000 8.434949 0.000000 8.434949 1,000.000000 10.121815% 10.120442%
LTAM 989.376380 7.716919 8.717632 16.434551 980.692084 9.359737% 9.352301%
LTA1A 963.097655 7.511952 27.538964 35.050917 935.558690 9.359737% 9.352301%
LTA2A 989.527713 7.718098 7.815108 15.533206 981.712605 9.359737% 9.352301%
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: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 2 of 7
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 218,018,698.78 216,175,539.30 1,823,407.28 1,488,918.53 3,312,325.81 0.00 6,993.01 214,693,613.78
MTA1F 743,810.00 711,944.85 3,429.20 22,032.59 25,461.79 0.00 0.00 689,912.26
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 6,521.02 0.00 6,521.02 0.00 0.00 0.00
MTAM 381,123,170.95 377,074,263.15 2,941,096.67 3,322,491.40 6,263,588.07 0.00 12,704.93 373,764,476.68
MTA1A 840,000.00 809,002.03 3,923.31 23,132.73 27,056.04 0.00 0.00 785,869.30
MTA2A 2,960,000.00 2,929,002.03 14,339.91 23,132.72 37,472.63 0.00 0.00 2,905,869.31
MTAIO 0.00 0.00 10,892.40 0.00 10,892.40 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL 605,141,869.73 599,155,941.36 4,811,947.44 4,879,707.97 9,691,655.41 0.00 19,697.94 594,295,931.33
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 991.545865 8.363536 6.829316 15.192852 984.748625 10.121815% 10.120442%
MTA1F 957.159557 4.610317 29.621261 34.231578 927.538296 5.780000% 5.842500%
MTA2F 1,000.000000 5.458323 0.000000 5.458323 1,000.000000 6.550000% 6.550000%
MTA3F 1,000.000000 5.491656 0.000000 5.491656 1,000.000000 6.590000% 6.590000%
MTA4F 1,000.000000 5.666644 0.000000 5.666644 1,000.000000 6.800000% 6.800000%
MTA5F 1,000.000000 6.008331 0.000000 6.008331 1,000.000000 7.210000% 7.210000%
MTA6F 1,000.000000 5.616684 0.000000 5.616684 1,000.000000 6.740000% 6.740000%
MTM1F 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
MTA2F 1,000.000000 6.125000 0.000000 6.125000 1,000.000000 7.350000% 7.350000%
MTB1F 1,000.000000 6.366667 0.000000 6.366667 1,000.000000 7.640000% 7.640000%
MTFIO 0.000000 0.010776 0.000000 0.010776 0.000000 0.000000% 0.000000%
MTAM 989.376380 7.716919 8.717632 16.434551 980.692084 9.359737% 9.352301%
MTA1A 963.097655 4.670607 27.538964 32.209571 935.558690 5.819481% #N/A
MTA2A 989.527713 4.844564 7.815108 12.659672 981.712605 5.875000% 5.937500%
MTAIO 0 0.017999746 0 0.017999746 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: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 FACTOR INFORMATION (800) 735-7777
</TABLE>
* Notional Balance
Page 3 of 7
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<TABLE>
<CAPTION>
Distribution Date: March 16, 1998
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
Fixed PRINCIPAL BALANCE 6,088,598.70 1,464,275.42 758,106.81 8,310,980.93
PERCENTAGE OF POOL BALANCE 2.80788% 0.67528% 0.34962% 3.83278%
NUMBER OF LOANS 120.00 28.00 7.00 155.00
PERCENTAGE OF POOL LOANS 3.21630% 0.75047% 0.18762% 4.15438%
Adj G PRINCIPAL BALANCE 12,283,496.56 2,601,934.85 567,131.56 15,452,562.97
PERCENTAGE OF POOL BALANCE 3.25428% 0.68933% 0.15025% 4.09387%
NUMBER OF LOANS 145.00 23.00 6.00 174.00
PERCENTAGE OF POOL LOANS 3.71224% 0.58884% 0.15361% 4.45469%
FORECLOSURE LOAN INFORMATION
Fixed PRINCIPAL BALANCE 0.00 1,138,240.28 1,776,757.01 2,914,997.29
PERCENTAGE OF POOL BALANCE 0.00000% 0.52492% 0.81939% 1.34431%
NUMBER OF LOANS 0.00 22.00 27.00 49.00
PERCENTAGE OF POOL LOANS 0.00000% 0.58965% 0.72367% 1.31332%
Adj G PRINCIPAL BALANCE 0.00 2,445,520.38 3,762,101.12 6,207,621.50
PERCENTAGE OF POOL BALANCE 0.00000% 0.64790% 0.99670% 1.64459%
NUMBER OF LOANS 0.00 30.00 45.00 75.00
PERCENTAGE OF POOL LOANS 0.00000% 0.76805% 1.15207% 1.92012%
REO LOAN INFORMATION
Fixed 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 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj G 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 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
Fixed PRINCIPAL BALANCE 81,869.83 66,364.73 0.00 148,234.56
PERCENTAGE OF POOL BALANCE 0.03776% 0.03061% 0.00000% 0.06836%
NUMBER OF LOANS 1.00 2.00 0.00 3.00
PERCENTAGE OF POOL LOANS 0.02680% 0.05360% 0.00000% 0.08041%
Adj G PRINCIPAL BALANCE 162,290.51 0.00 95,965.77 258,256.28
PERCENTAGE OF POOL BALANCE 0.04300% 0.00000% 0.02542% 0.06842%
NUMBER OF LOANS 1.00 0.00 1.00 2.00
PERCENTAGE OF POOL LOANS 0.02560% 0.00000% 0.02560% 0.05120%
TOTAL
Fixed PRINCIPAL BALANCE 6,170,468.53 2,668,880.43 2,534,863.82 11,374,212.78
PERCENTAGE OF POOL BALANCE 2.84564% 1.23081% 1.16900% 5.24545%
NUMBER OF LOANS 121.00 52.00 34.00 207.00
PERCENTAGE OF POOL LOANS 3.24310% 1.39373% 0.91128% 5.54811%
Adj G PRINCIPAL BALANCE 12,445,787.07 5,047,455.23 4,425,198.45 21,918,440.75
PERCENTAGE OF POOL BALANCE 3.29728% 1.33723% 1.17237% 5.80688%
NUMBER OF LOANS 146.00 53.00 52.00 251.00
PERCENTAGE OF POOL LOANS 3.73784% 1.35689% 1.33129% 6.42601%
</TABLE>
Page 4 of 7
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 251,768.20 199,627.93 451,396.13
PREPAYMENTS & CURTAILMENTS 1,252,189.91 3,156,423.99 4,408,613.90
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 1,503,958.11 3,356,051.92 4,860,010.03
SOURCES OF INTEREST
SCHEDULED INTEREST 1,932,671.69 3,128,924.06 5,061,595.75
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 (346,794.68) (548,961.64) (895,756.32)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (75,868.95) (133,001.74) (208,870.69)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 331,687.10 523,291.60 854,978.70
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 0.00 0.00 0.00
TOTAL INTEREST 1,841,695.16 2,970,252.28 4,811,947.44
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
3,345,653.27 6,326,304.20 9,671,957.47
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 9,671,957.47
</TABLE>
Page 5 of 7
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
SERVICING FEES Fixed Group Adj Group Total
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 90,976.53 158,671.78 249,648.31
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (15,107.58) (25,670.03) (40,777.61)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 75,868.95 133,001.75 208,870.70
AMOUNT PER $1000 CERTIFICATE:
</TABLE>
<TABLE>
<CAPTION>
POOL INFORMATION Fixed Group Adj Group Total
<S> <C> <C> <C>
PRIOR PRINCIPAL BALANCE OF POOL: 218,343,674.17 380,812,267.21 599,155,941.38
CURRENT PRINCIPAL BALANCE OF POOL: 216,839,716.06 377,456,215.29 594,295,931.35
GROUP FACTOR 98.46562% 98.06014% 98.20770%
PRIOR NUMBER OF LOANS: 3,756 3,937 7,693
CURRENT NUMBER OF LOANS: 3,731 3,906 7,637
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 31 56
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.62181% 9.85974%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.62044% 9.85230%
WEIGHTED AVERAGE TERM TO MATURITY: 293 353
</TABLE>
<TABLE>
<CAPTION>
TRIGGER EVENTS Fixed Group Adj Group
<S> <C> <C>
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES > 50% OF SENIOR ENHANCEMENT % ? NO
TARGET LOSS OC EVENT OCCURED? NO
STEP DOWN ROLLING LOSS TEST NOT SATISFIED? NO
STEP DOWN ROLLING DELINQUENCY TEST NOT SATISFIED? NO
STEP DOWN CUMMULATIVE LOSS TEST NOT SATISFIED? NO
SENIOR ENHANCEMENT % 100.69%
</TABLE>
<TABLE>
<CAPTION>
OVERCOLLATERALIZATION Fixed Group Adj Group
<S> <C> <C>
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 699,301.36 1,270,492.78
OVERCOLLATERALIZATION AMOUNT 2,229,490.23 8,282,354.56
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 21,170,774.55
</TABLE>
Page 6 of 7
COPYRIGHT 1998 Bankers Trust Company
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: March 16, 1998
<TABLE>
<CAPTION>
INTEREST CARRY FORWARD AMOUNT Prior Current
<S> <C> <C>
CLASS A1F 0.00 0.00
CLASS A2F 0.00 0.00
CLASS A3F 0.00 0.00
CLASS A4F 0.00 0.00
CLASS A5F 0.00 0.00
CLASS A6F 0.00 0.00
CLASS M1F 0.00 0.00
CLASS M2F 0.00 0.00
CLASS BF1 0.00 0.00
CLASS A1A 0.00 0.00
CLASS A2A 0.00 0.00
CERTIFICATE INSURER INFORMATION
FINANCIAL GUARANTY PREMIUM PAID: 56,070.06
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
</TABLE>
PAYMENT TO RESERVE FUND:
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
<TABLE>
<CAPTION>
Week Beggining Week Ending Rate
<S> <C> <C>
02/17/98 02/20/98 5.8660%
02/21/98 02/27/98 5.7860%
02/28/98 03/06/98 5.7720%
03/07/98 03/13/98 5.8560%
03/14/98 03/15/98 5.8820%
Page 7 of 7
COPYRIGHT 1998 Bankers Trust Company
</TABLE>
