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)
JULY 15, 1998
AAMES CAPITAL CORPORATION
--------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
CALIFORNIA 333-10185 AND 333-21219 95-4438859
- ---------------------------- ----------------------- -------------------
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file numbers) identification no.)
350 SOUTH GRAND AVENUE
LOS ANGELES, CALIFORNIA 90071
- ---------------------------------------- -------
(Address of principal executive offices) (ZIP Code)
(213) 210-5000
--------------------------------------------------
Registrant's telephone number, including area code
NA
-------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 7. FINANCIAL STATEMENTS; PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
-------------------------------------------------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-C - Statement to Certificateholders
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1997-D - Statement to Certificateholders
20.3 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1998-A - Statement to Certificateholders
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
AAMES CAPITAL CORPORATION
By:/S/ MARK E. ELBAUM
--------------------------------
Mark E. Elbaum
Senior Vice President - Finance
Dated: July 22, 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
20.3 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1998-A - Statement to Certificateholders
Page 4
EXHIBIT 20.1
Page 5
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 63,000,000.00 40,880,555.15 197,861.89 4,002,010.53 4,199,872.42 0.00 0.00 36,878,544.62
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 244,758,000.00 196,558,997.07 964,449.48 8,940,459.41 9,904,908.89 0.00 0.00 187,618,537.66
M1A 27,739,000.00 27,739,000.00 140,266.88 0.00 140,266.88 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 145,121.20 0.00 145,121.20 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 145,514.16 0.00 145,514.16 0.00 0.00 26,109,000.00
C 0.00 11,427,547.31 0.00 0.00 0.00 0.00 1,112,761.53 12,540,308.84
RIII 0 0 0 0 0 0 0 0
- --------------------------------------------------------------------------------------------------------------------------------
TOTALS 504,137,000.00 445,246,099.53 2,495,745.27 12,942,469.94 15,438,215.21 0.00 1,112,761.53 433,416,391.12
- --------------------------------------------------------------------------------------------------------------------------------
</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 648.897701 3.140665 63.523977 66.664642 585.373724 5.808000 % 5.870000 %
A2F 00253CDD6 1,000.000000 5.429167 0.000000 5.429167 1,000.000000 6.515000 % 6.515000 %
A3F 00253CDE4 1,000.000000 5.495833 0.000000 5.495833 1,000.000000 6.595000 % 6.595000 %
A4F 00253CDF1 1,000.000000 5.745833 0.000000 5.745833 1,000.000000 6.895000 % 6.895000 %
A5F 00253CDG9 1,000.000000 6.045833 0.000000 6.045833 1,000.000000 7.255000 % 7.255000 %
A6F 00253CDH7 1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000 % 6.890000 %
AIO* 00253CDJ3 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000 % 7.000000 %
M1F 00253CDK0 1,000.000000 5.933333 0.000000 5.933333 1,000.000000 7.120000 % 7.120000 %
M2F 00253CDL8 1,000.000000 6.095833 0.000000 6.095833 1,000.000000 7.315000 % 7.315000 %
BF1 00253CDM6 1,000.000000 6.375000 0.000000 6.375000 1,000.000000 7.650000 % 7.650000 %
BF2 00253CDT1 1,000.000000 6.875001 0.000000 6.875001 1,000.000000 8.250000 % 8.250000 %
A1A 00253CDN4 803.074862 3.940421 36.527752 40.468172 766.547110 5.888000 % 5.950000 %
M1A 00253CDQ7 1,000.000000 5.056667 0.000000 5.056667 1,000.000000 6.068000 % 6.130000 %
M2A 00253CDR5 1,000.000000 5.231667 0.000000 5.231667 1,000.000000 6.278000 % 6.340000 %
B1A 00253CDS3 1,000.000000 5.573333 0.000000 5.573333 1,000.000000 6.688000 % 6.750000 %
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 % 0.000000 %
RIII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 % 0.000000 %
We use the Libor rates reported on the Reuters LIBO page to determine the interest rate for these classes(A1F,A1A,M1A,M2A,B1A).
Recently, the format of the LIBO page was expanded to 16 banks from the previous 4. We calculated LIBOR by averaging
all 16 reported rates, then rounding as required by the agreement.
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 1 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 9,000,000.00 9,000,000.00 76,621.48 0.00 76,621.48 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 114,932.22 0.00 114,932.22 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,310.74 0.00 38,310.74 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 114,932.22 0.00 114,932.22 0.00 0.00 13,500,000.00
IFB 137,292,995.45 117,804,979.02 1,002,932.47 3,754,674.95 4,757,607.42 28,083.33 0.00 114,022,220.74
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 177,792,995.45 158,304,979.02 1,347,729.13 3,754,674.95 5,102,404.08 28,083.33 0.00 154,522,220.74
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 1,000.000000 8.513498 0.000000 8.513498 1,000.000000 10.216198 % 10.203032 %
IFA2 1,000.000000 8.513498 0.000000 8.513498 1,000.000000 10.216198 % 10.203032 %
IFA3 1,000.000000 8.513498 0.000000 8.513498 1,000.000000 10.216198 % 10.203032 %
IFA4 1,000.000000 8.513498 0.000000 8.513498 1,000.000000 10.216198 % 10.203032 %
IFB 858.055275 7.305052 27.347899 34.652951 830.502826 10.216198 % 10.203032 %
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: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 2 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA 326,345,084.45 286,942,200.41 2,342,469.36 7,993,341.77 10,335,811.13 53,608.36 0.00 278,895,250.28
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 326,345,084.45 286,942,200.41 2,342,469.36 7,993,341.77 10,335,811.13 53,608.36 0.00 278,895,250.28
- -----------------------------------------------------------------------------------------------------------------------------------
81691.69
</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 879.260066 7.177891 24.493526 31.671417 854.602271 9.796270 % 9.790295 %
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: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 3 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 174,237,135.54 155,138,879.47 1,089,249.55 3,679,581.45 4,768,831.00 27,521.68 0.00 151,431,776.34
II1F 630,000.00 408,805.53 2,870.27 40,020.11 42,890.38 0.00 0.00 368,785.42
II2F 207,900.00 207,900.00 1,459.69 0.00 1,459.69 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,755.28 0.00 1,755.28 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 702.11 0.00 702.11 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 842.54 0.00 842.54 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,053.17 0.00 1,053.17 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 686.53 0.00 686.53 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 624.11 0.00 624.11 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 561.69 0.00 561.69 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 374.58 0.00 374.58 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,609,374.02 8,826.26 37,546.75 46,373.01 561.65 2,473.36 1,573,738.98
IIAA 319,818,182.76 281,203,356.38 2,295,619.97 7,833,474.93 10,129,094.90 52,536.18 0.00 273,317,345.27
II1A 2,447,580.00 1,965,589.99 16,046.21 89,404.60 105,450.81 0.00 0.00 1,876,185.39
II2A 277,390.00 277,390.00 2,264.49 0.00 2,264.49 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,264.49 0.00 2,264.49 0.00 0.00 277,390.00
II4A 261,090.00 261,090.00 2,131.42 0.00 2,131.42 0.00 0.00 261,090.00
IIMA 3,263,451.69 2,957,384.04 14,671.60 79,933.42 94,605.02 1,072.18 9,471.18 2,885,849.62
IIIO* 40,500,000.00 40,500,000.00 236,250.00 0.00 236,250.00 0.00 0.00 40,500,000.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 504,138,079.90 445,247,179.43 3,678,253.96 11,759,961.26 15,438,215.22 81,691.69 11,944.54 433,417,471.02
- -----------------------------------------------------------------------------------------------------------------------------------
</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 890.389290 6.251535 21.118239 27.369774 869.113096 8.425351 % 8.368344 %
II1F 648.897667 4.555984 63.523984 68.079968 585.373683 8.425351 % 8.368344 %
II2F 1,000.000000 7.021116 0.000000 7.021116 1,000.000000 8.425351 % 8.368344 %
II3F 1,000.000000 7.021120 0.000000 7.021120 1,000.000000 8.425351 % 8.368344 %
II4F 1,000.000000 7.021100 0.000000 7.021100 1,000.000000 8.425351 % 8.368344 %
II5F 1,000.000000 7.021167 0.000000 7.021167 1,000.000000 8.425351 % 8.368344 %
II6F 1,000.000000 7.021133 0.000000 7.021133 1,000.000000 8.425351 % 8.368344 %
II7F 1,000.000000 7.021170 0.000000 7.021170 1,000.000000 8.425351 % 8.368344 %
II8F 1,000.000000 7.021150 0.000000 7.021150 1,000.000000 8.425351 % 8.368344 %
II10F 1,000.000000 7.021181 0.000000 7.021181 1,000.000000 8.425351 % 8.368344 %
IIMF 905.190333 4.964319 21.118121 26.082439 885.147451 8.425351 % 8.368344 %
IIAA 879.260066 7.177891 24.493526 31.671417 854.602271 9.796270 % 9.790295 %
II1A 803.074870 6.555949 36.527754 43.083703 766.547116 9.796270 % 9.790295 %
II2A 1,000.000000 8.163560 0.000000 8.163560 1,000.000000 9.796270 % 9.790295 %
II3A 1,000.000000 8.163560 0.000000 8.163560 1,000.000000 9.796270 % 9.790295 %
II4A 1,000.000000 8.163545 0.000000 8.163545 1,000.000000 9.796270 % 9.790295 %
IIMA 906.213519 4.495731 24.493520 28.989251 884.293654 9.796270 % 9.790295 %
IIIO* 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000 % 7.000000 %
RII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 % 0.000000 %
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 4 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 4,795,494.34 1,351,543.54 347,521.06 6,494,558.94
- ------------
PERCENTAGE OF POOL BALANCE 3.10343% 0.87466% 0.22490% 4.20299%
NUMBER OF LOANS 106 21 6 133
PERCENTAGE OF POOL LOANS 3.96855% 0.78622% 0.22463% 4.97941%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 11,000,540.29 2,641,622.66 1,426,647.77 15,068,810.72
- ------------
PERCENTAGE OF POOL BALANCE 3.94433% 0.94717% 0.51154% 5.40304%
NUMBER OF LOANS 128 33 14 175
PERCENTAGE OF POOL LOANS 4.18437% 1.07878% 0.45767% 5.72082%
- -----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 137,658.60 901,101.99 7,114,087.29 8,152,847.88
- ------------
PERCENTAGE OF POOL BALANCE 0.08909% 0.58315% 4.60393% 5.27617%
NUMBER OF LOANS 2 17 122 141
PERCENTAGE OF POOL LOANS 0.07488% 0.63647% 4.56758% 5.27892%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 0.00 2,139,791.87 20,579,419.24 22,719,211.11
- ------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.76724% 7.37891% 8.14614%
NUMBER OF LOANS 0 25 253 278
PERCENTAGE OF POOL LOANS 0.00000% 0.81726% 8.27068% 9.08794%
- -----------------------------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 0.00 261,950.29 261,950.29
- ------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.16952% 0.16952%
NUMBER OF LOANS 0 0 5 5
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.18720% 0.18720%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 0.00 0.00 1,156,010.45 1,156,010.45
- ------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.41450% 0.41450%
NUMBER OF LOANS 0 0 12 12
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.39229% 0.39229%
- -----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 59,986.33 280,550.78 139,831.66 480,368.77
- ------------
PERCENTAGE OF POOL BALANCE 0.03882% 0.18156% 0.09049% 0.31087%
NUMBER OF LOANS 1 2 5 8
PERCENTAGE OF POOL LOANS 0.03744% 0.07488% 0.18720% 0.29951%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 233,160.24 103,242.76 334,445.44 670,848.44
- ------------
PERCENTAGE OF POOL BALANCE 0.08360% 0.03702% 0.11992% 0.24054%
NUMBER OF LOANS 3 3 2 8
PERCENTAGE OF POOL LOANS 0.09807% 0.09807% 0.06538% 0.26152%
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 4,993,139.27 2,533,196.31 7,863,390.30 15,389,725.88
- ------------
PERCENTAGE OF POOL BALANCE 3.23134% 1.63937% 5.08884% 9.95956%
NUMBER OF LOANS 109 40 138 287
PERCENTAGE OF POOL LOANS 4.08087% 1.49757% 5.16660% 10.74504%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 11,233,700.53 4,884,657.29 23,496,522.90 39,614,880.72
- ------------
PERCENTAGE OF POOL BALANCE 4.02793% 1.75143% 8.42486% 14.20421%
NUMBER OF LOANS 131 61 281 473
PERCENTAGE OF POOL LOANS 4.28245% 1.99412% 9.18601% 15.46257%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
COLLECTION ACCOUNT INFORMATION
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 251,184.63 171,601.41 422,786.04
PREPAYMENTS & CURTAILMENTS 3,459,662.06 7,654,848.72 11,114,510.78
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 71,911.59 220,500.00 292,411.59
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
LESS: REALIZED LOSSES (28,083.33) (53,608.36) (81,691.69)
TOTAL PRINCIPAL 3,754,674.95 7,993,341.77 11,748,016.72
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
SOURCES OF INTEREST
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
SCHEDULED INTEREST 1,412,985.41 2,460,099.23 3,873,084.64
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 704.13 1,929.38 2,633.51
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER INTEREST 0.00 0.00 0.00
LESS: DELINQUENT INTEREST (344,025.47) (692,609.24) (1,036,634.71)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (50,929.19) (88,052.17) (138,981.36)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 328,994.25 661,102.16 990,096.41
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,347,729.13 2,342,469.36 3,690,198.49
- --------------------------------------------------------------------------------------------------------------------------
PERMITTED WITHDRAWALS
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------
TOTAL SOURCES
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
5,102,404.08 10,335,811.13 15,438,215.21
- --------------------------------------------------------------------------------------------------------------------------
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 15,438,215.21
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
SERVICING FEES Fixed Group Adj Group Total
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 65,960.41 119,559.25 185,519.66
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (15,031.22) (31,507.08) (46,538.30)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 50,929.19 88,052.17 138,981.36
AMOUNT PER $1000 CERTIFICATE:
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
POOL INFORMATION Fixed Group Adj Group Total
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
PRIOR PRINCIPAL BALANCE OF POOL: 158,304,979.04 286,942,200.41 445,247,179.45
CURRENT PRINCIPAL BALANCE OF POOL: 154,522,220.76 278,895,250.28 433,417,471.04
GROUP FACTOR 86.91131% 85.46023% 85.97198%
PRIOR NUMBER OF LOANS: 2,733 3,134 5,867
CURRENT NUMBER OF LOANS: 2,671 3,059 5,730
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: 62 75 137
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.71620% 10.29627%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.70303% 10.29029%
WEIGHTED AVERAGE TERM TO MATURITY: 278 346
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TRIGGER EVENTS Fixed Group Adj Group
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 5.92315% 9.48105%
SENIOR ENHANCEMENT PERCENTAGE 22.39571% 32.38836%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
OVERCOLLATERALIZATION Fixed Group Adj Group
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 247,335.58 947,117.64
OVERCOLLATERALIZATION AMOUNT 2,851,676.14 9,689,712.62
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 7 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C
STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INTEREST CARRY FORWARD AMOUNT Prior Current
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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 (C) COPYRIGHT 1998 Bankers Trust Company
EXHIBIT 20.2
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 74,381,000.00 57,909,597.29 281,971.48 4,277,275.03 4,559,246.51 0.00 0.00 53,632,322.26
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 68,629,038.70 333,754.45 4,482,042.83 4,815,797.28 0.00 0.00 64,146,995.87
A2A 296,000,000.00 280,629,038.70 1,388,646.03 4,482,042.83 5,870,688.86 0.00 0.00 276,146,995.87
C 0.00 10,828,833.75 0.00 400,433.25 400,433.25 0.00 1,764,647.69 12,193,048.19
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 600,000,000.00 563,615,508.44 2,838,137.67 13,641,793.94 16,479,931.61 0.00 1,764,647.69 551,738,362.20
- ----------------------------------------------------------------------------------------------------------------------------------
</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> <C>
A1F 00253CDU8 778.553626 3.790907 57.504941 61.295849 721.048685 5.843000% 5.905000%
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 817.012365 3.973267 53.357653 57.330920 763.654713 5.835800% NA
A2A 00253CEE3 948.071077 4.691372 15.142037 19.833408 932.929040 5.938000% 6.000000%
C 0.000000 0.000000 0.667389 0.667389 0.000000 0.000000% 0.000000%
RIII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
*We use the LIBOR rates reported on the Reuters LIBO page to determine the interest rate for classes A1F, C.
Recently, the format of the LIBO page was expanded to 16 banks from the previous 4. We calculated
LIBOR by averaging all 16 reported rates, then rounding as required by the agreement.
- ----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- ----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Class A-1A Current Pass-Through Rate is a average weekly rate.
</FN>
</TABLE>
Page 1 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 218,018,698.78 205,662,862.13 1,729,504.04 4,006,357.61 5,735,861.65 0.00 2,304.49 201,658,809.01
LTA1F 743,810.00 579,095.98 4,869.86 42,772.75 47,642.61 0.00 0.00 536,323.23
LTA2F 271,970.00 271,970.00 2,287.11 0.00 2,287.11 0.00 0.00 271,970.00
LTA3F 352,340.00 352,340.00 2,962.97 0.00 2,962.97 0.00 0.00 352,340.00
LTA4F 144,830.00 144,830.00 1,217.94 0.00 1,217.94 0.00 0.00 144,830.00
LTA5F 156,050.00 156,050.00 1,312.29 0.00 1,312.29 0.00 0.00 156,050.00
LTA6F 190,000.00 190,000.00 1,597.79 0.00 1,597.79 0.00 0.00 190,000.00
LTM1F 132,000.00 132,000.00 1,110.04 0.00 1,110.04 0.00 0.00 132,000.00
LTM2F 110,000.00 110,000.00 925.04 0.00 925.04 0.00 0.00 110,000.00
LTB1F 99,000.00 99,000.00 832.52 0.00 832.52 0.00 0.00 99,000.00
LTAM 381,123,170.95 357,232,089.24 2,828,512.03 7,803,881.98 10,632,394.01 0.00 10,813.77 349,439,021.03
LTA1A 840,000.00 686,290.39 5,433.95 44,820.43 50,254.38 0.00 0.00 641,469.96
LTA2A 2,960,000.00 2,806,290.39 22,219.80 44,820.43 67,040.23 0.00 0.00 2,761,469.96
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 605,141,869.73 568,422,818.13 4,602,785.38 11,942,653.20 16,545,438.58 0.00 13,118.26 556,493,283.19
- ----------------------------------------------------------------------------------------------------------------------------------
</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 943.326711 7.932824 18.376211 26.309035 924.961070 10.091296% 10.086310%
LTA1F 778.553636 6.547183 57.504941 64.052124 721.048695 10.091296% 10.086310%
LTA2F 1,000.000000 8.409420 0.000000 8.409420 1,000.000000 10.091296% 10.086310%
LTA3F 1,000.000000 8.409406 0.000000 8.409406 1,000.000000 10.091296% 10.086310%
LTA4F 1,000.000000 8.409446 0.000000 8.409446 1,000.000000 10.091296% 10.086310%
LTA5F 1,000.000000 8.409420 0.000000 8.409420 1,000.000000 10.091296% 10.086310%
LTA6F 1,000.000000 8.409421 0.000000 8.409421 1,000.000000 10.091296% 10.086310%
LTM1F 1,000.000000 8.409394 0.000000 8.409394 1,000.000000 10.091296% 10.086310%
LTM2F 1,000.000000 8.409455 0.000000 8.409455 1,000.000000 10.091296% 10.086310%
LTB1F 1,000.000000 8.409293 0.000000 8.409293 1,000.000000 10.091296% 10.086310%
LTAM 937.314014 7.421517 20.476010 27.897527 916.866377 9.501426% 9.517158%
LTA1A 817.012369 6.468988 53.357655 59.826643 763.654714 9.501426% 9.517158%
LTA2A 948.071078 7.506689 15.142037 22.648726 932.929041 9.501426% 9.517158%
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: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- ----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 2 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 218,018,698.78 205,662,862.13 1,729,504.04 4,006,357.61 5,735,861.65 0.00 2,304.49 201,658,809.01
MTA1F 743,810.00 579,095.98 2,819.71 42,772.75 45,592.46 0.00 0.00 536,323.23
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 5,958.19 0.00 5,958.19 0.00 0.00 0.00
MTAM 381,123,170.95 357,232,089.24 2,828,512.03 7,803,881.98 10,632,394.01 0.00 10,813.77 349,439,021.03
MTA1A 840,000.00 686,290.39 3,337.54 44,820.43 48,157.97 0.00 0.00 641,469.96
MTA2A 2,960,000.00 2,806,290.39 13,886.48 44,820.43 58,706.91 0.00 0.00 2,761,469.96
MTAIO 0.00 0.00 10,429.74 0.00 10,429.74 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 605,141,869.73 568,422,818.13 4,602,785.38 11,942,653.20 16,545,438.58 0.00 13,118.26 556,493,283.19
- ----------------------------------------------------------------------------------------------------------------------------------
</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 943.326711 7.932824 18.376211 26.309035 924.961070 10.091296% 10.086310%
MTA1F 778.553636 3.790901 57.504941 61.295842 721.048695 5.843000% 5.905000%
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 0.009846 0.000000 0.009846 0.000000 0.000000% 0.000000%
MTAM 937.314014 7.421517 20.476010 27.897527 916.866377 9.501426% 9.517158%
MTA1A 817.012369 3.973262 53.357655 57.330917 763.654714 5.835800% N/A
MTA2A 948.071078 4.691378 15.142037 19.833416 932.929041 5.938000% 6.000000%
MTAIO 0.000000 0.017235 0.000000 0.017235 0.000000 0.000000% 0.000000%
RII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- ----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 3 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 7,135,503.59 1,620,861.58 743,364.10 9,499,729.27
- -------------
PERCENTAGE OF POOL BALANCE 3.50378% 0.79590% 0.36502% 4.66470%
NUMBER OF LOANS 150 28 14 192
PERCENTAGE OF POOL LOANS 4.25894% 0.79500% 0.39750% 5.45145%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 15,766,596.48 2,688,396.43 1,146,187.67 19,601,180.58
- -------------
PERCENTAGE OF POOL BALANCE 4.46846% 0.76193% 0.32484% 5.55523%
NUMBER OF LOANS 171 32 13 216
PERCENTAGE OF POOL LOANS 4.62162% 0.86486% 0.35135% 5.83784%
- -----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 985,403.96 7,183,142.29 8,168,546.25
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.48387% 3.52718% 4.01105%
NUMBER OF LOANS 0 19 123 142
PERCENTAGE OF POOL LOANS 0.00000% 0.53947% 3.49233% 4.03180%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 154,493.95 1,944,237.79 16,360,339.69 18,459,071.43
- -------------
PERCENTAGE OF POOL BALANCE 0.04379% 0.55102% 4.63673% 5.23154%
NUMBER OF LOANS 2 26 192 220
PERCENTAGE OF POOL LOANS 0.05405% 0.70270% 5.18919% 5.94595%
- -----------------------------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 0.00 123,474.30 123,474.30
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.06063% 0.06063%
NUMBER OF LOANS 0 0 3 3
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.08518% 0.08518%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 0.00 0.00 512,560.00 512,560.00
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.14527% 0.14527%
NUMBER OF LOANS 0 0 7 7
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.18919% 0.18919%
- -----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 81,746.41 111,720.14 157,393.73 350,860.28
- -------------
PERCENTAGE OF POOL BALANCE 0.04014% 0.05486% 0.07729% 0.17228%
NUMBER OF LOANS 1 1 4 6
PERCENTAGE OF POOL LOANS 0.02839% 0.02839% 0.11357% 0.17036%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 122,013.95 271,327.63 180,328.03 573,669.61
- -------------
PERCENTAGE OF POOL BALANCE 0.03458% 0.07690% 0.05111% 0.16259%
NUMBER OF LOANS 2 3 4 9
PERCENTAGE OF POOL LOANS 0.05405% 0.08108% 0.10811% 0.24324%
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 7,217,250.00 2,717,985.68 8,207,374.42 18,142,610.10
- -------------
PERCENTAGE OF POOL BALANCE 3.54392% 1.33463% 4.03011% 8.90866%
NUMBER OF LOANS 151 48 144 343
PERCENTAGE OF POOL LOANS 4.28734% 1.36286% 4.08859% 9.73878%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 16,043,104.38 4,903,961.85 18,199,415.39 39,146,481.62
- -------------
PERCENTAGE OF POOL BALANCE 4.54682% 1.38985% 5.15795% 11.09462%
NUMBER OF LOANS 175 61 216 452
PERCENTAGE OF POOL LOANS 4.72973% 1.64865% 5.83784% 12.21622%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
COLLECTION ACCOUNT INFORMATION
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 299,362.02 210,305.13 509,667.15
PREPAYMENTS & CURTAILMENTS 3,747,463.85 7,672,403.94 11,419,867.79
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 4,046,825.87 7,882,709.07 11,929,534.94
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
SOURCES OF INTEREST
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
SCHEDULED INTEREST 1,833,160.50 3,006,467.73 4,839,628.23
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 (442,712.37) (701,007.97) (1,143,720.34)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (67,036.92) (117,701.87) (184,738.79)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 423,208.39 668,407.89 1,091,616.28
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 0.00 0.00 0.00
TOTAL INTEREST 1,746,619.60 2,856,165.78 4,602,785.38
--------------------------------------------------------------------------------------------------
PERMITTED WITHDRAWALS
--------------------------------------------------------------------------------------------------
0.00 0.00 0.00
--------------------------------------------------------------------------------------------------
TOTAL SOURCES
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
5,793,445.47 10,738,874.85 16,532,320.32
--------------------------------------------------------------------------------------------------
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 16,532,320.32
- ---------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
SERVICING FEES Fixed Group Adj Group Total
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 86,540.90 150,301.95 236,842.85
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (19,503.98) (32,600.08) (52,104.06)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 67,036.92 117,701.87 184,738.79
AMOUNT PER $1000 CERTIFICATE:
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
POOL INFORMATION Fixed Group Adj Group Total
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
PRIOR PRINCIPAL BALANCE OF POOL: 207,698,148.13 360,724,670.02 568,422,818.15
CURRENT PRINCIPAL BALANCE OF POOL: 203,651,322.26 352,841,960.95 556,493,283.21
GROUP FACTOR 92.47685% 91.66555% 91.96080%
PRIOR NUMBER OF LOANS: 3,585 3,762 7,347
CURRENT NUMBER OF LOANS: 3,522 3,700 7,222
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: 63 62 125
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.59130% 10.00143%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.58631% 10.01716%
WEIGHTED AVERAGE TERM TO MATURITY: 288 349
- ----------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------
TRIGGER EVENTS Fixed Group Adj Group
- ----------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------
HAS TRIGGER EVENT OCCURRED? NO YES
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? YES
SENIOR ENHANCEMENT % 101.99%
- ----------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------
OVERCOLLATERALIZATION Fixed Group Adj Group
- ----------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 230,449.16 1,081,376.59
OVERCOLLATERALIZATION AMOUNT 4,400,000.00 12,547,969.20
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 19,246,158.55
- ----------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-D
STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INTEREST CARRY FORWARD AMOUNT Prior Current
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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: 52,388.71
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
- -------------------------------------------------------------------------------
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
Week Beggining Week Ending Rate
06/15/98 06/19/98 5.8580%
06/20/98 06/26/98 5.8640%
06/27/98 07/03/98 5.8000%
07/04/98 07/10/98 5.8560%
07/11/98 07/14/98 5.7860%
- -------------------------------------------------------------------------------
Page 7 of 7 (C) COPYRIGHT 1998 Bankers Trust Company
EXHIBIT 20.3
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IFA 15,000,000.00 15,000,000.00 123,477.65 0.00 123,477.65 0.00 0.00 15,000,000.00
IFB 135,000,000.00 132,897,983.17 1,093,995.40 1,586,646.10 2,680,641.50 0.00 0.00 131,311,337.07
IA 150,000,000.00 148,753,739.50 1,158,572.50 1,077,253.56 2,235,826.06 0.00 0.00 147,676,485.94
R1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 296,651,722.67 2,376,045.55 2,663,899.66 5,039,945.21 0.00 0.00 293,987,823.01
- -----------------------------------------------------------------------------------------------------------------------------------
</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>
IFA 1,000.000000 8.231843 0.000000 8.231843 1,000.000000 9.878212% 9.864910%
IFB 984.429505 8.103670 11.752934 19.856604 972.676571 9.878212% 9.864910%
IA 991.691597 7.723817 7.181690 14.905507 984.509906 9.346232% 9.398425%
R1 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donaldson, Lufkin, & Jenrette Securities Inc. 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 148,500,000.00 146,430,263.04 1,143,511.24 1,570,779.64 2,714,290.88 0.00 3,733.50 144,863,216.90
LTA1F 615,000.00 582,720.13 4,550.61 19,599.96 24,150.57 0.00 0.00 563,120.17
LTA2F 100,000.00 100,000.00 780.93 0.00 780.93 0.00 0.00 100,000.00
LTA3F 275,000.00 275,000.00 2,147.55 0.00 2,147.55 0.00 0.00 275,000.00
LTA4F 200,000.00 200,000.00 1,561.85 0.00 1,561.85 0.00 0.00 200,000.00
LTA5F 160,000.00 160,000.00 1,249.48 0.00 1,249.48 0.00 0.00 160,000.00
LTA6F 150,000.00 150,000.00 1,171.39 0.00 1,171.39 0.00 0.00 150,000.00
LTAIO 15,000,000.00 15,000,000.00 62,500.00 0.00 62,500.00 0.00 0.00 15,000,000.00
LTAM 148,500,000.00 147,281,973.09 1,147,109.60 1,066,481.02 2,213,590.62 0.00 4,191.70 146,219,683.77
LTA1A 1,110,000.00 1,081,766.41 8,425.37 14,964.24 23,389.61 0.00 0.00 1,066,802.17
LTM1A 150,000.00 150,000.00 1,168.28 0.00 1,168.28 0.00 0.00 150,000.00
LTM2A 127,500.00 127,500.00 993.04 0.00 993.04 0.00 0.00 127,500.00
LFB1A 112,500.00 112,500.00 876.21 0.00 876.21 0.00 0.00 112,500.00
R2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 296,651,722.67 2,376,045.55 2,671,824.86 5,047,870.41 0.00 7,925.20 293,987,823.01
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Class LTAIO Represents a Notional Balance
</FN>
</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 986.062377 7.700412 10.577641 18.278053 975.509878 9.371106% 9.352305%
LTA1F 947.512407 7.399366 31.869854 39.269220 915.642553 9.371106% 9.352305%
LTA2F 1,000.000000 7.809300 0.000000 7.809300 1,000.000000 9.371106% 9.352305%
LTA3F 1,000.000000 7.809273 0.000000 7.809273 1,000.000000 9.371106% 9.352305%
LTA4F 1,000.000000 7.809250 0.000000 7.809250 1,000.000000 9.371106% 9.352305%
LTA5F 1,000.000000 7.809250 0.000000 7.809250 1,000.000000 9.371106% 9.352305%
LTA6F 1,000.000000 7.809267 0.000000 7.809267 1,000.000000 9.371106% 9.352305%
LTAIO * 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 5.000000% 5.000000%
LTAM 991.797799 7.724644 7.181690 14.906334 984.644335 9.346232% 9.398425%
LTA1A 974.564333 7.590423 13.481297 21.071721 961.083036 9.346232% 9.398425%
LTM1A 1,000.000000 7.788533 0.000000 7.788533 1,000.000000 9.346232% 9.398425%
LTM2A 1,000.000000 7.788549 0.000000 7.788549 1,000.000000 9.346232% 9.398425%
LFB1A 1,000.000000 7.788533 0.000000 7.788533 1,000.000000 9.346232% 9.398425%
R2 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donaldson, Lufkin, & Jenrette Securities Inc. 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Notional Balance
</FN>
</TABLE>
Page 2 of 8 (C)PYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC III
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 148,500,000.00 146,430,263.04 1,143,511.24 1,570,779.64 2,714,290.88 0.00 3,733.50 144,863,216.90
MTA1F 615,000.00 582,720.13 3,039.86 19,599.96 22,639.82 0.00 0.00 563,120.17
MTA2F 100,000.00 100,000.00 516.67 0.00 516.67 0.00 0.00 100,000.00
MTA3F 275,000.00 275,000.00 1,436.88 0.00 1,436.88 0.00 0.00 275,000.00
MTA4F 200,000.00 200,000.00 1,083.33 0.00 1,083.33 0.00 0.00 200,000.00
MTA5F 160,000.00 160,000.00 932.00 0.00 932.00 0.00 0.00 160,000.00
MTA6F 150,000.00 150,000.00 807.50 0.00 807.50 0.00 0.00 150,000.00
MTAIO 0.00 0.00 62,500.00 0.00 62,500.00 0.00 0.00 0.00
MTFIO 0.00 0.00 3,645.57 0.00 3,645.57 0.00 0.00 0.00
MTAM 148,500,000.00 147,281,973.09 1,147,109.60 1,066,481.02 2,213,590.62 0.00 4,191.70 146,219,683.77
MTA1A 1,110,000.00 1,081,766.41 5,298.40 14,964.24 20,262.64 0.00 0.00 1,066,802.17
MTM1A 150,000.00 150,000.00 767.19 0.00 767.19 0.00 0.00 150,000.00
MTM2A 127,500.00 127,500.00 673.36 0.00 673.36 0.00 0.00 127,500.00
MTB1A 112,500.00 112,500.00 655.08 0.00 655.08 0.00 0.00 112,500.00
MTADJIO 0.00 0.00 4,068.87 0.00 4,068.87 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 296,651,722.67 2,376,045.55 2,671,824.86 5,047,870.41 0.00 7,925.20 293,987,823.01
- ----------------------------------------------------------------------------------------------------------------------------------
</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>
MTFM 986.062377 7.700412 10.577641 18.278053 975.509878 9.371106% 9.352305%
MTA1F 947.512407 4.942862 31.869854 36.812715 915.642553 6.260000% 6.260000%
MTA2F 1,000.000000 5.166700 0.000000 5.166700 1,000.000000 6.200000% 6.200000%
MTA3F 1,000.000000 5.225018 0.000000 5.225018 1,000.000000 6.270000% 6.270000%
MTA4F 1,000.000000 5.416650 0.000000 5.416650 1,000.000000 6.500000% 6.500000%
MTA5F 1,000.000000 5.825000 0.000000 5.825000 1,000.000000 6.990000% 6.990000%
MTA6F 1,000.000000 5.383333 0.000000 5.383333 1,000.000000 6.460000% 6.460000%
MTAIO 0.000000 0.208333 0.000000 0.208333 0.000000 0.000000% 0.000000%
MTFIO 0.000000 0.012152 0.000000 0.012152 0.000000 0.000000% 0.000000%
MTAM 991.797799 7.724644 7.181690 14.906334 984.644335 9.346232% 9.398425%
MTA1A 974.564333 4.773333 13.481297 18.254631 961.083036 5.877500% 5.940000%
MTM1A 1,000.000000 5.114600 0.000000 5.114600 1,000.000000 6.137500% 6.200000%
MTM2A 1,000.000000 5.281255 0.000000 5.281255 1,000.000000 6.337500% 6.400000%
MTB1A 1,000.000000 5.822933 0.000000 5.822933 1,000.000000 6.987500% 7.050000%
MTADJIO 0.000000 0.013563 0.000000 0.013563 0.000000 0.000000% 0.000000%
R3 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donaldson, Lufkin, & Jenrette Securities Inc. 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC IV
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 61,500,000.00 58,272,013.47 303,985.67 1,959,995.98 2,263,981.65 0.00 0.00 56,312,017.49
A2F 10,000,000.00 10,000,000.00 51,666.67 0.00 51,666.67 0.00 0.00 10,000,000.00
A3F 27,500,000.00 27,500,000.00 143,687.50 0.00 143,687.50 0.00 0.00 27,500,000.00
A4F 20,000,000.00 20,000,000.00 108,333.33 0.00 108,333.33 0.00 0.00 20,000,000.00
A5F 16,000,000.00 16,000,000.00 93,200.00 0.00 93,200.00 0.00 0.00 16,000,000.00
A6F 15,000,000.00 15,000,000.00 80,750.00 0.00 80,750.00 0.00 0.00 15,000,000.00
AIO * 15,000,000.00 15,000,000.00 62,500.00 0.00 62,500.00 0.00 0.00 15,000,000.00
A1A 111,000,000.00 108,176,641.72 529,840.17 1,496,423.39 2,026,263.56 0.00 0.00 106,680,218.33
M1A 15,000,000.00 15,000,000.00 76,718.75 0.00 76,718.75 0.00 0.00 15,000,000.00
M2A 12,750,000.00 12,750,000.00 67,335.94 0.00 67,335.94 0.00 0.00 12,750,000.00
B1A 11,250,000.00 11,250,000.00 65,507.81 0.00 65,507.81 0.00 0.00 11,250,000.00
C 0.00 2,703,067.49 0.00 0.00 0.00 0.00 792,519.71 3,495,587.20
R4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 296,651,722.68 1,583,525.84 3,456,419.37 5,039,945.21 0.00 792,519.71 293,987,823.02
- ----------------------------------------------------------------------------------------------------------------------------------
<FN>
* Represents a Notional Amount
</FN>
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CEF0 947.512414 4.942856 31.869853 36.812710 915.642561 6.260000% 6.260000%
A2F 00253CEG8 1,000.000000 5.166667 0.000000 5.166667 1,000.000000 6.200000% 6.200000%
A3F 00253CEH6 1,000.000000 5.225000 0.000000 5.225000 1,000.000000 6.270000% 6.270000%
A4F 00253CEJ2 1,000.000000 5.416667 0.000000 5.416667 1,000.000000 6.500000% 6.500000%
A5F 00253CEK9 1,000.000000 5.825000 0.000000 5.825000 1,000.000000 6.990000% 6.990000%
A6F 00253CEL7 1,000.000000 5.383333 0.000000 5.383333 1,000.000000 6.460000% 6.460000%
AIO * 00253CEM5 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 5.000000% 5.000000%
A1A 00253CEN3 974.564340 4.773335 13.481292 18.254627 961.083048 5.877500% 5.940000%
M1A 00253CEP8 1,000.000000 5.114583 0.000000 5.114583 1,000.000000 6.137500% 6.200000%
M2A 00253CEQ6 1,000.000000 5.281250 0.000000 5.281250 1,000.000000 6.337500% 6.400000%
B1A 00253CER4 1,000.000000 5.822916 0.000000 5.822916 1,000.000000 6.987500% 7.050000%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R4 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
*We use the LIBOR rates reported on the Reuters LIBO page to determine the interest rate for these classes (A1A,M1A,M2A,B1A).
Recently, the format of the LIBO page was expanded to 16 banks from the previous 4. We calculated
LIBOR by averaging all 16 reported rates, then rounding as required by the agreement.
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donaldson, Lufkin, & Jenrette Securities Inc. 3 Park Plaza
RECORD DATE: June 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: July 15, 1998 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 4,536,512.61 564,425.98 77,180.32 5,178,118.91
- -------------
PERCENTAGE OF POOL BALANCE 3.10059% 0.38577% 0.05275% 3.53911%
NUMBER OF LOANS 94 14 2 110
PERCENTAGE OF POOL LOANS 3.65049% 0.54369% 0.07767% 4.27184%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 5,811,564.38 1,695,774.67 465,433.81 7,972,772.86
- -------------
PERCENTAGE OF POOL BALANCE 3.93533% 1.14830% 0.31517% 5.39881%
NUMBER OF LOANS 70 16 5 91
PERCENTAGE OF POOL LOANS 4.45010% 1.01716% 0.31786% 5.78512%
- -----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 1,050,828.34 2,498,589.24 3,549,417.58
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.71821% 1.70772% 2.42593%
NUMBER OF LOANS 0 23 37 60
PERCENTAGE OF POOL LOANS 0.00000% 0.89320% 1.43689% 2.33010%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 0.00 633,488.79 5,021,487.65 5,654,976.44
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.42897% 3.40033% 3.82930%
NUMBER OF LOANS 0 10 57 67
PERCENTAGE OF POOL LOANS 0.00000% 0.63573% 3.62365% 4.25938%
- -----------------------------------------------------------------------------------------------------------------------------------
REO LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 46,026.63 52,490.96 98,517.59
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.03146% 0.03588% 0.06733%
NUMBER OF LOANS 0 1 1 2
PERCENTAGE OF POOL LOANS 0.00000% 0.03883% 0.03883% 0.07767%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 94,102.13 42,468.72 330,602.78 467,173.63
- -------------
PERCENTAGE OF POOL BALANCE 0.06372% 0.02876% 0.22387% 0.31635%
NUMBER OF LOANS 1 1 4 6
PERCENTAGE OF POOL LOANS 0.06357% 0.06357% 0.25429% 0.38144%
- -----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY LOAN INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
- -------------
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Fixed Group PRINCIPAL BALANCE 4,536,512.61 1,661,280.95 2,628,260.52 8,826,054.08
- -------------
PERCENTAGE OF POOL BALANCE 3.10059% 1.13544% 1.79635% 6.03238%
NUMBER OF LOANS 94 38 40 172
PERCENTAGE OF POOL LOANS 3.65049% 1.47573% 1.55340% 6.67961%
- -----------------------------------------------------------------------------------------------------------------------------------
Adj Group PRINCIPAL BALANCE 5,905,666.51 2,371,732.18 5,817,524.24 14,094,922.93
- -------------
PERCENTAGE OF POOL BALANCE 3.99906% 1.60603% 3.93937% 9.54446%
NUMBER OF LOANS 71 27 66 164
PERCENTAGE OF POOL LOANS 4.51367% 1.71647% 4.19580% 10.42594%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- ------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------
COLLECTION ACCOUNT INFORMATION
- ------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
- ------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 224,869.69 118,006.71 342,876.40
PREPAYMENTS & CURTAILMENTS 1,361,776.41 959,246.85 2,321,023.26
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 0.00 0.00 0.00
PREFUNDING ACCOUNT TERMINATION 0.00 0.00 0.00
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 1,586,646.10 1,077,253.56 2,663,899.66
- ------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------
SOURCES OF INTEREST
- ------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------
SCHEDULED INTEREST 1,293,774.41 1,220,553.22 2,514,327.63
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 (236,818.99) (261,535.20) (498,354.19)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (51,315.00) (49,651.20) (100,966.20)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 226,509.83 249,205.68 475,715.51
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 0.00 0.00 0.00
TOTAL INTEREST 1,232,150.25 1,158,572.50 2,390,722.75
- ------------------------------------------------------------------------------------------------------------------
PERMITTED WITHDRAWALS
- ------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------
TOTAL SOURCES
- ------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------
2,818,796.35 2,235,826.06 5,054,622.41
- ------------------------------------------------------------------------------------------------------------------
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT 0.00
TOTAL REMITTANCE DUE 5,054,622.41
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
SERVICING FEES Fixed Group Adj Group Total
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 61,624.16 61,980.72 123,604.88
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (10,309.16) (12,329.52) (22,638.68)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 51,315.00 49,651.20 100,966.20
AMOUNT PER $1000 CERTIFICATE:
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
POOL INFORMATION Fixed Group Adj Group Total
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
PRIOR PRINCIPAL BALANCE OF POOL: 147,897,983.16 148,753,739.51 296,651,722.67
CURRENT PRINCIPAL BALANCE OF POOL: 146,311,337.06 147,676,485.95 293,987,823.01
GROUP FACTOR 97.54089% 98.45099% 97.99594%
PRIOR NUMBER OF LOANS: 2,608 1,583 4,191
CURRENT NUMBER OF LOANS: 2,575 1,573 4,148
NUMBER OF LOANS PURCHASED FROM Mortgage Replacement 0 0 0
CURRENT PRINCIPAL BAL. OF LOANS PURCHASED FROM MORT REPLACEMENT 0 0 0.00
NUMBER OF LOANS PAID IN FULL: 33 10 43
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.49730% 9.84623%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.48368% 9.89842%
WEIGHTED AVERAGE TERM TO MATURITY: 93 353
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
TRIGGER EVENTS Fixed Group Adj Group
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES > 40% NO
TARGET LOSS OC EVENT OCCURRED? NO
TARGET DELINQUENCY EVENT OCCURRED? NO
STEP DOWN ROLLING LOSS TEST NOT SATISFIED? NO
STEP DOWN ROLLING DELINQUENCY TEST NOT SATISFIED? NO
STEP DOWN CUMULATIVE LOSS TEST NOT SATISFIED? NO
SENIOR ENHANCEMENT % 27.48%
STEPPED UP SENIOR ENHANCEMENT % 89.82%
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
OVERCOLLATERALIZATION Fixed Group Adj Group
- --------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 373,349.88 419,169.83
OVERCOLLATERALIZATION AMOUNT 1,499,319.57 1,996,267.62
TARGET OVERCOLLATERALIZATION AMOUNT 4,875,000.00 5,250,000.00
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 7 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
AAMES CAPITAL CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-A
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------
Distribution Date: July 15, 1998
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INTEREST CARRY FORWARD AMOUNT Prior Current
- -------------------------------------------------------------------------------
CLASS A1F 0.00 0.00
CLASS A2F 0.00 0.00
CLASS A3F 0.00 0.00
CLASS A4F 0.00 0.00
CLASS A5F 0.00 0.00
CLASS A6F 0.00 0.00
CLASS AIO 0.00 0.00
CLASS A1A 0.00 0.00
CLASS M1A 0.00 0.00
CLASS M2A 0.00 0.00
CLASS B1A 0.00 0.00
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CERTIFICATE INSURER INFORMATION
- -------------------------------------------------------------------------------
FINANCIAL GUARANTY PREMIUM PAID: 14,677.20
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 8 of 8 (C) COPYRIGHT 1998 Bankers Trust Company
