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Previous: FIRST TRUST SPECIAL SITUATION TRUST SERIES 90, 485BPOS, 1998-05-29 |
Next: MFRI INC, DEF 14A, 1998-05-29 |
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)
MAY 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 2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
AAMES CAPITAL CORPORATION
By:/S/ MARK E. ELBAUM
------------------------------------
Mark E. Elbaum
Senior Vice President - Finance
Dated: May 27, 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>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<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 47,409,445.27 229,441.96 3,339,270.20 3,568,712.16 0.00 0.00 44,070,175.07
A2F 20,790,000.00 20,790,000.00 112,872.38 0.00 112,872.38 0.00 0.00 20,790,000.00
A3F 25,000,000.00 25,000,000.00 137,395.83 0.00 137,395.83 0.00 0.00 25,000,000.00
A4F 10,000,000.00 10,000,000.00 57,458.33 0.00 57,458.33 0.00 0.00 10,000,000.00
A5F 12,000,000.00 12,000,000.00 72,550.00 0.00 72,550.00 0.00 0.00 12,000,000.00
A6F 15,000,000.00 15,000,000.00 86,125.00 0.00 86,125.00 0.00 0.00 15,000,000.00
AIO* 40,500,000.00 40,500,000.00 236,250.00 0.00 236,250.00 0.00 0.00 40,500,000.00
M1F 9,778,000.00 9,778,000.00 58,016.13 0.00 58,016.13 0.00 0.00 9,778,000.00
M2F 8,889,000.00 8,889,000.00 54,185.86 0.00 54,185.86 0.00 0.00 8,889,000.00
BF1 8,000,000.00 8,000,000.00 51,000.00 0.00 51,000.00 0.00 0.00 8,000,000.00
BF2 5,335,000.00 5,335,000.00 36,678.13 0.00 36,678.13 0.00 0.00 5,335,000.00
A1A 244,758,000.00 211,054,698.94 1,035,487.12 6,872,812.37 7,908,299.49 0.00 0.00 204,181,886.57
M1A 27,739,000.00 27,739,000.00 140,255.32 0.00 140,255.32 0.00 0.00 27,739,000.00
M2A 27,739,000.00 27,739,000.00 145,109.64 0.00 145,109.64 0.00 0.00 27,739,000.00
B1A 26,109,000.00 26,109,000.00 145,503.28 0.00 145,503.28 0.00 0.00 26,109,000.00
C 0.00 9,021,695.06 0.00 0.00 0.00 0.00 1,241,745.10 10,263,440.16
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 504,137,000.00 463,864,839.27 2,598,328.98 10,212,082.57 12,810,411.55 0.00 1,241,745.10 454,894,501.80
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CDC8 752.530877 3.641936 53.004289 56.646225 699.526588 5.807500% 5.807500%
A2F 00253CDD6 1,000.000000 5.429167 0.000000 5.429167 1,000.000000 6.515000% 6.515000%
A3F 00253CDE4 1,000.000000 5.495833 0.000000 5.495833 1,000.000000 6.595000% 6.595000%
A4F 00253CDF1 1,000.000000 5.745833 0.000000 5.745833 1,000.000000 6.895000% 6.895000%
A5F 00253CDG9 1,000.000000 6.045833 0.000000 6.045833 1,000.000000 7.255000% 7.255000%
A6F 00253CDH7 1,000.000000 5.741667 0.000000 5.741667 1,000.000000 6.890000% 6.890000%
AIO* 00253CDJ3 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
M1F 00253CDK0 1,000.000000 5.933333 0.000000 5.933333 1,000.000000 7.120000% 7.120000%
M2F 00253CDL8 1,000.000000 6.095833 0.000000 6.095833 1,000.000000 7.315000% 7.315000%
BF1 00253CDM6 1,000.000000 6.375000 0.000000 6.375000 1,000.000000 7.650000% 7.650000%
BF2 00253CDT1 1,000.000000 6.875001 0.000000 6.875001 1,000.000000 8.250000% 8.250000%
A1A 00253CDN4 862.299491 4.230657 28.080032 32.310688 834.219460 5.887500% 5.887500%
M1A 00253CDQ7 1,000.000000 5.056250 0.000000 5.056250 1,000.000000 6.067500% 6.067500%
M2A 00253CDR5 1,000.000000 5.231250 0.000000 5.231250 1,000.000000 6.277500% 6.277500%
B1A 00253CDS3 1,000.000000 5.572917 0.000000 5.572917 1,000.000000 6.687500% 6.687500%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
RIII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities 3 Park Plaza
RECORD DATE: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION:(800) 735-7777
* Notional Balance Page 1 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<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 76,751.89 0.00 76,751.89 0.00 0.00 9,000,000.00
IFA2 13,500,000.00 13,500,000.00 115,127.84 0.00 115,127.84 0.00 0.00 13,500,000.00
IFA3 4,500,000.00 4,500,000.00 38,375.95 0.00 38,375.95 0.00 0.00 4,500,000.00
IFA4 13,500,000.00 13,500,000.00 115,127.84 0.00 115,127.84 0.00 0.00 13,500,000.00
IFB 137,292,995.45 123,813,688.43 1,055,881.67 3,069,978.63 4,125,860.30 0.00 0.00 120,743,709.80
RIF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 177,792,995.45 164,313,688.43 1,401,265.19 3,069,978.63 4,471,243.82 0.00 0.00 161,243,709.80
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IFA1 1,000.000000 8.527988 0.000000 8.527988 1,000.000000 10.233586% 10.224112%
IFA2 1,000.000000 8.527988 0.000000 8.527988 1,000.000000 10.233586% 10.224112%
IFA3 1,000.000000 8.527989 0.000000 8.527989 1,000.000000 10.233586% 10.224112%
IFA4 1,000.000000 8.527988 0.000000 8.527988 1,000.000000 10.233586% 10.224112%
IFB 901.820869 7.690718 22.360781 30.051499 879.460088 10.233586% 10.224112%
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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION:(800) 735-7777
* Notional Balance Page 2 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<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 326,345,084.45 299,552,230.74 2,438,808.89 5,900,358.84 8,339,167.73 0.00 0.00 293,651,871.90
RIA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 326,345,084.45 299,552,230.74 2,438,808.89 5,900,358.84 8,339,167.73 0.00 0.00 293,651,871.90
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IA 917.900238 7.473098 18.080122 25.553220 899.820116 9.769818% 9.773353%
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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION:(800) 735-7777
* Notional Balance Page 3 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<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 174,237,135.54 161,027,414.68 1,141,714.89 3,008,579.05 4,150,293.94 0.00 0.00 158,018,835.63
II1F 630,000.00 474,094.44 3,361.42 33,392.71 36,754.13 0.00 0.00 440,701.73
II2F 207,900.00 207,900.00 1,474.05 0.00 1,474.05 0.00 0.00 207,900.00
II3F 250,000.00 250,000.00 1,772.55 0.00 1,772.55 0.00 0.00 250,000.00
II4F 100,000.00 100,000.00 709.02 0.00 709.02 0.00 0.00 100,000.00
II5F 120,000.00 120,000.00 850.82 0.00 850.82 0.00 0.00 120,000.00
II6F 150,000.00 150,000.00 1,063.53 0.00 1,063.53 0.00 0.00 150,000.00
II7F 97,780.00 97,780.00 693.28 0.00 693.28 0.00 0.00 97,780.00
II8F 88,890.00 88,890.00 630.25 0.00 630.25 0.00 0.00 88,890.00
II9F 80,000.00 80,000.00 567.22 0.00 567.22 0.00 0.00 80,000.00
II10F 53,350.00 53,350.00 378.26 0.00 378.26 0.00 0.00 53,350.00
IIMF 1,777,939.91 1,664,259.31 9,106.99 30,699.79 39,806.78 0.00 2,692.92 1,636,252.44
IIAA 319,818,182.76 293,561,186.11 2,390,032.71 5,782,351.66 8,172,384.37 0.00 0.00 287,778,834.45
II1A 2,447,580.00 2,110,547.01 17,183.05 68,728.13 85,911.18 0.00 0.00 2,041,818.88
II2A 277,390.00 277,390.00 2,258.37 0.00 2,258.37 0.00 0.00 277,390.00
II3A 277,390.00 277,390.00 2,258.37 0.00 2,258.37 0.00 0.00 277,390.00
II4A 261,090.00 261,090.00 2,125.67 0.00 2,125.67 0.00 0.00 261,090.00
IIMA 3,263,451.69 3,064,627.62 15,226.17 59,003.59 74,229.76 0.00 9,724.54 3,015,348.57
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 504,138,079.90 463,865,919.17 3,827,656.62 8,982,754.93 12,810,411.55 0.00 12,417.46 454,895,581.70
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IIAF 924.185388 6.552650 17.267152 23.819801 906.918236 8.508227% 8.465904%
II1F 752.530857 5.335587 53.004302 58.339889 699.526556 8.508227% 8.465904%
II2F 1,000.000000 7.090188 0.000000 7.090188 1,000.000000 8.508227% 8.465904%
II3F 1,000.000000 7.090200 0.000000 7.090200 1,000.000000 8.508227% 8.465904%
II4F 1,000.000000 7.090200 0.000000 7.090200 1,000.000000 8.508227% 8.465904%
II5F 1,000.000000 7.090167 0.000000 7.090167 1,000.000000 8.508227% 8.465904%
II6F 1,000.000000 7.090200 0.000000 7.090200 1,000.000000 8.508227% 8.465904%
II7F 1,000.000000 7.090202 0.000000 7.090202 1,000.000000 8.508227% 8.465904%
II8F 1,000.000000 7.090224 0.000000 7.090224 1,000.000000 8.508227% 8.465904%
II10F 1,000.000000 7.090159 0.000000 7.090159 1,000.000000 8.508227% 8.465904%
IIMF 936.060494 5.122215 17.267057 22.389272 920.308066 8.508227% 8.465904%
IIAA 917.900238 7.473098 18.080122 25.553220 899.820116 9.769818% 9.773353%
II1A 862.299500 7.020424 28.080034 35.100458 834.219466 9.769818% 9.773353%
II2A 1,000.000000 8.141498 0.000000 8.141498 1,000.000000 9.769818% 9.773353%
II3A 1,000.000000 8.141498 0.000000 8.141498 1,000.000000 9.769818% 9.773353%
II4A 1,000.000000 8.141522 0.000000 8.141522 1,000.000000 9.769818% 9.773353%
IIMA 939.0755283 4.665664 18.080117 22.745782 923.975244 9.769818% 9.773353%
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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION:(800) 735-7777
* Notional Balance Page 4 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 6,077,749.37 863,455.82 293,844.90 7,235,050.09
PERCENTAGE OF POOL BALANCE 3.76929% 0.53550% 0.18224% 4.48703%
NUMBER OF LOANS 103 21 7 131
PERCENTAGE OF POOL LOANS 3.69706% 0.75377% 0.25126% 4.70208%
Adj Group PRINCIPAL BALANCE 14,653,676.22 2,310,669.60 1,599,716.30 18,564,062.12
PERCENTAGE OF POOL BALANCE 4.99015% 0.78687% 0.54477% 6.32179%
NUMBER OF LOANS 149 30 17 196
PERCENTAGE OF POOL LOANS 4.66500% 0.93926% 0.53225% 6.13651%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 574,351.64 6,476,068.68 7,050,420.32
PERCENTAGE OF POOL BALANCE 0.00000% 0.35620% 4.01632% 4.37252%
NUMBER OF LOANS 0 11 105 116
PERCENTAGE OF POOL LOANS 0.00000% 0.39483% 3.76884% 4.16368%
Adj Group PRINCIPAL BALANCE 123,781.71 2,431,806.85 18,604,558.39 21,160,146.95
PERCENTAGE OF POOL BALANCE 0.04215% 0.82813% 6.33558% 7.20586%
NUMBER OF LOANS 2 27 223 252
PERCENTAGE OF POOL LOANS 0.06262% 0.84534% 6.98184% 7.88979%
REO LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 136,549.62 136,549.62
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.08469% 0.08469%
NUMBER OF LOANS 0 0 3 3
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.10768% 0.10768%
Adj Group PRINCIPAL BALANCE 0.00 0.00 267,165.04 267,165.04
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.09098% 0.09098%
NUMBER OF LOANS 0 0 4 4
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.12523% 0.12523%
BANKRUPTCY LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 31,389.60 0.00 76,432.69 107,822.29
PERCENTAGE OF POOL BALANCE 0.01947% 0.00000% 0.04740% 0.06687%
NUMBER OF LOANS 1 0 3 4
PERCENTAGE OF POOL LOANS 0.03589% 0.00000% 0.10768% 0.14358%
Adj Group PRINCIPAL BALANCE 128,378.60 0.00 511,086.00 639,464.60
PERCENTAGE OF POOL BALANCE 0.04372% 0.00000% 0.17404% 0.21776%
NUMBER OF LOANS 2 0 5 7
PERCENTAGE OF POOL LOANS 0.06262% 0.00000% 0.15654% 0.21916%
TOTAL
Fixed Group PRINCIPAL BALANCE 6,109,138.97 1,437,807.46 6,982,895.89 14,529,842.32
PERCENTAGE OF POOL BALANCE 3.78876% 0.89170% 4.33065% 9.01111%
NUMBER OF LOANS 104 32 118 254
PERCENTAGE OF POOL LOANS 3.73295% 1.14860% 4.23546% 9.11701%
Adj Group PRINCIPAL BALANCE 14,905,836.53 4,742,476.45 20,982,525.73 40,630,838.71
PERCENTAGE OF POOL BALANCE 5.07602% 1.61500% 7.14537% 13.83640%
NUMBER OF LOANS 153 57 249 459
PERCENTAGE OF POOL LOANS 4.79023% 1.78460% 7.79587% 14.37070%
Page 5 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
COLLECTION ACCOUNT INFORMATION
<S> <C> <C> <C>
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
SCHEDULED PRINCIPAL RECEIVED 219,436.92 152,328.53 371,765.45
PREPAYMENTS & CURTAILMENTS 2,850,541.71 5,748,030.31 8,598,572.02
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 3,069,978.63 5,900,358.84 8,970,337.47
SOURCES OF INTEREST
SCHEDULED INTEREST 1,469,729.23 2,563,622.32 4,033,351.55
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 (319,277.56) (691,802.72) (1,011,080.28)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (54,593.80) (93,338.33) (147,932.13)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 305,407.32 660,327.62 965,734.94
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
TOTAL INTEREST 1,401,265.19 2,438,808.89 3,840,074.08
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
4,471,243.82 8,339,167.73 12,810,411.55
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
12,810,411.55
TOTAL REMITTANCE DUE
Page 6 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
<S> <C> <C> <C>
SERVICING FEES Fixed Group Adj Group Total
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 68,464.04 124,813.43 193,277.47
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (13,870.24) (31,475.10) (45,345.34)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 54,593.80 93,338.33 147,932.13
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
PRIOR PRINCIPAL BALANCE OF POOL: 164,313,688.45 299,552,230.74 463,865,919.19
CURRENT PRINCIPAL BALANCE OF POOL: 161,243,709.82 293,651,871.90 454,895,581.72
GROUP FACTOR 90.69182% 89.98201% 90.23234%
PRIOR NUMBER OF LOANS: 2,843 3,255 6,098
CURRENT NUMBER OF LOANS: 2,786 3,194 5,980
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: 57 61 118
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.73359% 10.26982%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.72411% 10.27335%
WEIGHTED AVERAGE TERM TO MATURITY: 279 348
TRIGGER EVENTS Fixed Group Adj Group
HAS TRIGGER EVENT OCCURRED ? NO NO
ROLLING DELINQUENCY PERCENTAGES 4.78102% 7.83706%
SENIOR ENHANCEMENT PERCENTAGE 21.15695% 30.13689%
OVERCOLLATERALIZATION Fixed Group Adj Group
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 269,291.57 972,453.53
OVERCOLLATERALIZATION AMOUNT 2,381,534.75 7,882,985.33
TARGET OVERCOLLATERALIZATION AMOUNT 4,889,280.00 9,790,350.00
Page 7 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
<S> <C> <C>
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
</TABLE>
EXHIBIT 20.2
<PAGE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
<TABLE>
<CAPTION>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 74,381,000.00 65,526,664.79 319,032.95 4,041,602.15 4,360,635.10 0.00 0.00 61,485,062.64
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 75,569,138.45 365,229.84 3,379,696.86 3,744,926.70 0.00 0.00 72,189,441.59
A2A 296,000,000.00 287,569,138.45 1,422,868.13 3,379,696.86 4,802,564.99 0.00 0.00 284,189,441.59
C 0.00 7,331,721.24 0.00 0.00 0.00 0.00 1,785,981.20 9,117,702.44
RIII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 600,000,000.00 581,615,662.93 2,940,896.63 10,800,995.87 13,741,892.50 0.00 1,785,981.20 572,600,648.26
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CDU8 880.959718 4.289173 54.336486 58.625658 826.623232 5.842500% 5.842500%
A2F 00253CDV6 1,000.000000 5.458333 0.000000 5.458333 1,000.000000 6.550000% 6.550000%
A3F 00253CDW4 1,000.000000 5.491667 0.000000 5.491667 1,000.000000 6.590000% 6.590000%
A4F 00253CDX2 1,000.000000 5.666666 0.000000 5.666666 1,000.000000 6.800000% 6.800000%
A5F 00253CDY0 1,000.000000 6.008333 0.000000 6.008333 1,000.000000 7.210000% 7.210000%
A6F 00253CDZ7 1,000.000000 5.616667 0.000000 5.616667 1,000.000000 6.740000% 6.740000%
M1F 00253CEA1 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
M2F 00253CEB9 1,000.000000 6.125000 0.000000 6.125000 1,000.000000 7.350000% 7.350000%
BF1 00253CEC7 1,000.000000 6.366667 0.000000 6.366667 1,000.000000 7.640000% 7.640000%
A1A 00253CED5 899.632601 4.347974 40.234486 44.582461 859.398114 5.799667% NA
A2A 00253CEE3 971.517360 4.806987 11.417895 16.224882 960.099465 5.937500% 5.937500%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
RIII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers, Inc. 3 Park Plaza
RECORD DATE: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Class A-1A Current Pass-Through Rate is a average weekly rate Page 1 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 218,018,698.78 211,922,793.11 1,785,941.65 3,356,758.58 5,142,700.23 0.00 6,509.37 208,572,543.90
LTA1F 743,810.00 655,266.65 5,522.14 40,416.02 45,938.16 0.00 0.00 614,850.63
LTA2F 271,970.00 271,970.00 2,291.98 0.00 2,291.98 0.00 0.00 271,970.00
LTA3F 352,340.00 352,340.00 2,969.28 0.00 2,969.28 0.00 0.00 352,340.00
LTA4F 144,830.00 144,830.00 1,220.53 0.00 1,220.53 0.00 0.00 144,830.00
LTA5F 156,050.00 156,050.00 1,315.08 0.00 1,315.08 0.00 0.00 156,050.00
LTA6F 190,000.00 190,000.00 1,601.19 0.00 1,601.19 0.00 0.00 190,000.00
LTM1F 132,000.00 132,000.00 1,112.41 0.00 1,112.41 0.00 0.00 132,000.00
LTM2F 110,000.00 110,000.00 927.01 0.00 927.01 0.00 0.00 110,000.00
LTB1F 99,000.00 99,000.00 834.31 0.00 834.31 0.00 0.00 99,000.00
LTAM 381,123,170.95 368,864,032.80 2,894,645.13 5,622,031.97 8,516,677.10 0.00 10,805.74 363,252,806.57
LTA1A 840,000.00 755,691.38 5,930.26 33,796.97 39,727.23 0.00 0.00 721,894.41
LTA2A 2,960,000.00 2,875,691.39 22,566.87 33,796.97 56,363.84 0.00 0.00 2,841,894.42
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 605,141,869.73 586,529,665.33 4,726,877.84 9,086,800.51 13,813,678.35 0.00 17,315.11 577,460,179.93
</TABLE>
<TABLE>
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 972.039528 8.191690 15.396655 23.588345 956.672731 10.112787% 10.101206%
LTA1F 880.959721 7.424127 54.336484 61.760611 826.623237 10.112787% 10.101206%
LTA2F 1,000.000000 8.427327 0.000000 8.427327 1,000.000000 10.112787% 10.101206%
LTA3F 1,000.000000 8.427315 0.000000 8.427315 1,000.000000 10.112787% 10.101206%
LTA4F 1,000.000000 8.427329 0.000000 8.427329 1,000.000000 10.112787% 10.101206%
LTA5F 1,000.000000 8.427299 0.000000 8.427299 1,000.000000 10.112787% 10.101206%
LTA6F 1,000.000000 8.427316 0.000000 8.427316 1,000.000000 10.112787% 10.101206%
LTM1F 1,000.000000 8.427348 0.000000 8.427348 1,000.000000 10.112787% 10.101206%
LTM2F 1,000.000000 8.427364 0.000000 8.427364 1,000.000000 10.112787% 10.101206%
LTB1F 1,000.000000 8.427374 0.000000 8.427374 1,000.000000 10.112787% 10.101206%
LTAM 967.834183 7.595038 14.751221 22.346259 953.111315 9.416950% 9.433301%
LTA1A 899.632595 7.059833 40.234488 47.294321 859.398107 9.416950% 9.433301%
LTA2A 971.517361 7.623943 11.417895 19.041838 960.099466 9.416950% 9.433301%
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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 2 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 218,018,698.78 211,922,793.11 1,785,941.65 3,356,758.58 5,142,700.23 0.00 6,509.37 208,572,543.90
MTA1F 743,810.00 655,266.65 3,190.33 40,416.02 43,606.35 0.00 0.00 614,850.63
MTA2F 271,970.00 271,970.00 1,484.50 0.00 1,484.50 0.00 0.00 271,970.00
MTA3F 352,340.00 352,340.00 1,934.93 0.00 1,934.93 0.00 0.00 352,340.00
MTA4F 144,830.00 144,830.00 820.70 0.00 820.70 0.00 0.00 144,830.00
MTA5F 156,050.00 156,050.00 937.60 0.00 937.60 0.00 0.00 156,050.00
MTA6F 190,000.00 190,000.00 1,067.17 0.00 1,067.17 0.00 0.00 190,000.00
MTM1F 132,000.00 132,000.00 788.70 0.00 788.70 0.00 0.00 132,000.00
MTA2F 110,000.00 110,000.00 673.75 0.00 673.75 0.00 0.00 110,000.00
MTB1F 99,000.00 99,000.00 630.30 0.00 630.30 0.00 0.00 99,000.00
MTFIO 0.00 0.00 6,265.94 0.00 6,265.94 0.00 0.00 0.00
MTAM 381,123,170.95 368,864,032.80 2,894,645.13 5,622,031.97 8,516,677.10 0.00 10,805.74 363,252,806.57
MTA1A 840,000.00 755,691.38 3,652.30 33,796.97 37,449.27 0.00 0.00 721,894.41
MTA2A 2,960,000.00 2,875,691.39 14,228.69 33,796.97 48,025.66 0.00 0.00 2,841,894.42
MTAIO 0.00 0.00 10,616.15 0.00 10,616.15 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 605,141,869.73 586,529,665.33 4,726,877.84 9,086,800.51 13,813,678.35 0.00 17,315.11 577,460,179.93
</TABLE>
<TABLE>
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 972.039528 8.191690 15.396655 23.588345 956.672731 10.112787% 10.101206%
MTA1F 880.959721 4.289173 54.336484 58.625657 826.623237 5.842500% 5.842500%
MTA2F 1,000.000000 5.458323 0.000000 5.458323 1,000.000000 6.550000% 6.550000%
MTA3F 1,000.000000 5.491656 0.000000 5.491656 1,000.000000 6.590000% 6.590000%
MTA4F 1,000.000000 5.666644 0.000000 5.666644 1,000.000000 6.800000% 6.800000%
MTA5F 1,000.000000 6.008331 0.000000 6.008331 1,000.000000 7.210000% 7.210000%
MTA6F 1,000.000000 5.616684 0.000000 5.616684 1,000.000000 6.740000% 6.740000%
MTM1F 1,000.000000 5.975000 0.000000 5.975000 1,000.000000 7.170000% 7.170000%
MTA2F 1,000.000000 6.125000 0.000000 6.125000 1,000.000000 7.350000% 7.350000%
MTB1F 1,000.000000 6.366667 0.000000 6.366667 1,000.000000 7.640000% 7.640000%
MTFIO 0.000000 0.010354 0.000000 0.010354 0.000000 0.000000% 0.000000%
MTAM 967.834183 7.595038 14.751221 22.346259 953.111315 9.416950% 9.433301%
MTA1A 899.632595 4.347976 40.234488 44.582464 859.398107 5.799667% NA
MTA2A 971.517361 4.806990 11.417895 16.224885 960.099466 5.937500% 5.937500%
MTAIO 0.000000 0.017543 0.000000 0.017543 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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 3 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
Distribution Date: May 15, 1998
<S> <C> <C> <C> <C> <C>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
Fixed Group PRINCIPAL BALANCE 7,369,224.88 1,566,440.74 670,554.23 9,606,219.85
PERCENTAGE OF POOL BALANCE 3.49843% 0.74365% 0.31834% 4.56041%
NUMBER OF LOANS 135 31 14 180
PERCENTAGE OF POOL LOANS 3.71389% 0.85282% 0.38514% 4.95186%
Adj Group PRINCIPAL BALANCE 12,763,851.08 3,889,568.24 859,508.08 17,512,927.40
PERCENTAGE OF POOL BALANCE 3.47963% 1.06036% 0.23432% 4.77430%
NUMBER OF LOANS 137 50 8 195
PERCENTAGE OF POOL LOANS 3.59958% 1.31372% 0.21019% 5.12349%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 995,239.78 4,570,776.73 5,566,016.51
PERCENTAGE OF POOL BALANCE 0.00000% 0.47248% 2.16991% 2.64239%
NUMBER OF LOANS 0 20 81 101
PERCENTAGE OF POOL LOANS 0.00000% 0.55021% 2.22834% 2.77854%
Adj Group PRINCIPAL BALANCE 0.00 2,449,685.96 10,783,454.62 13,233,140.58
PERCENTAGE OF POOL BALANCE 0.00000% 0.66782% 2.93974% 3.60756%
NUMBER OF LOANS 0 30 126 156
PERCENTAGE OF POOL LOANS 0.00000% 0.78823% 3.31056% 4.09879%
REO LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00 0.00 27,000.00 27,000.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00736% 0.00736%
NUMBER OF LOANS 0 0 1 1
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.02627% 0.02627%
BANKRUPTCY LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 111,777.00 118,859.03 330,288.40 560,924.43
PERCENTAGE OF POOL BALANCE 0.05306% 0.05643% 0.15680% 0.26629%
NUMBER OF LOANS 1 3 3 7
PERCENTAGE OF POOL LOANS 0.02751% 0.08253% 0.08253% 0.19257%
Adj Group PRINCIPAL BALANCE 0.00 299,442.54 87,750.00 387,192.54
PERCENTAGE OF POOL BALANCE 0.00000% 0.08163% 0.02392% 0.10555%
NUMBER OF LOANS 0 4 2 6
PERCENTAGE OF POOL LOANS 0.00000% 0.10510% 0.05255% 0.15765%
TOTAL
Fixed Group PRINCIPAL BALANCE 7,481,001.88 2,680,539.55 5,571,619.36 15,733,160.79
PERCENTAGE OF POOL BALANCE 3.55150% 1.27255% 2.64505% 7.46909%
NUMBER OF LOANS 136 54 98 288
PERCENTAGE OF POOL LOANS 3.74140% 1.48556% 2.69601% 7.92297%
Adj Group PRINCIPAL BALANCE 12,763,851.08 6,638,696.74 11,757,712.70 31,160,260.52
PERCENTAGE OF POOL BALANCE 3.47963% 1.80981% 3.20534% 8.49478%
NUMBER OF LOANS 137 84 137 358
PERCENTAGE OF POOL LOANS 3.59958% 2.20704% 3.59958% 9.40620%
Page 4 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 272,866.22 204,864.61 477,730.83
PREPAYMENTS & CURTAILMENTS 3,030,299.01 5,473,955.56 8,504,254.57
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 87,500.00 0.00 87,500.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER PRINCIPAL
LESS: REALIZED LOSSES 0.00 0.00 0.00
TOTAL PRINCIPAL 3,390,665.23 5,678,820.17 9,069,485.40
SOURCES OF INTEREST
SCHEDULED INTEREST 1,892,023.29 3,078,348.68 4,970,371.97
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 893.23 0.00 893.23
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER INTEREST 0.00 0.00 0.00
LESS: DELINQUENT INTEREST (387,564.63) (618,802.12) (1,006,366.75)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (72,203.45) (126,248.82) (198,452.27)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 370,587.14 589,844.52 960,431.66
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 0.00 0.00 0.00
TOTAL INTEREST 1,803,735.58 2,923,142.26 4,726,877.84
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
5,194,400.81 8,601,962.43 13,796,363.24
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT
TOTAL REMITTANCE DUE 13,796,363.24
Page 5 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
<S> <C> <C> <C>
SERVICING FEES Fixed Group Adj Group Total
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 89,180.94 155,206.42 244,387.36
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (16,977.49) (28,957.60) (45,935.09)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 72,203.45 126,248.82 198,452.27
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
PRIOR PRINCIPAL BALANCE OF POOL: 214,034,249.78 372,495,415.57 586,529,665.35
CURRENT PRINCIPAL BALANCE OF POOL: 210,643,584.55 366,816,595.40 577,460,179.95
GROUP FACTOR 95.65200% 95.29605% 95.42559%
PRIOR NUMBER OF LOANS: 3,691 3,862 7,553
CURRENT NUMBER OF LOANS: 3,635 3,806 7,441
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: 56 56 112
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.61279% 9.91695%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.60121% 9.93330%
WEIGHTED AVERAGE TERM TO MATURITY: 290 351
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 % 101.61%
OVERCOLLATERALIZATION Fixed Group Adj Group
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 650,936.92 1,080,573.55
OVERCOLLATERALIZATION AMOUNT 3,539,521.91 10,437,712.22
TARGET OVERCOLLATERALIZATION AMOUNT 4,400,000.00 19,246,158.55
Page 6 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1997-D
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
<S> <C> <C>
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: 54,470.74
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
</TABLE>
<TABLE>
<CAPTION>
Weekly Rates Used in Calculating Class A-1A Pass Through Rate
<S> <C> <C>
Week Beggining Week Ending Rate
04/15/98 04/17/98 5.8180%
04/18/98 04/24/98 5.9280%
04/25/98 05/01/98 5.7820%
05/02/98 05/08/98 5.7820%
05/09/98 05/14/98 5.6820%
Page 7 of 7 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
EXHIBIT 20.3
<PAGE>
<TABLE>
Mortgage Pass-Through Certificates
Series 1998-A
REMIC I
Statement To Certificateholders
<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 15,000,000.00 123,624.04 0.00 123,624.04 0.00 0.00 15,000,000.00
IFB 135,000,000.00 134,637,534.39 1,109,628.98 918,296.26 2,027,925.24 0.00 0.00 133,719,238.13
IA 150,000,000.00 149,847,529.39 1,166,458.89 442,413.60 1,608,872.49 0.00 0.00 149,405,115.79
R1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 300,000,000.00 299,485,063.78 2,399,711.91 1,360,709.86 3,760,421.77 0.00 0.00 298,124,353.92
</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 8.241603 0.000000 8.241603 1,000.000000 9.889922% 9.884452%
IFB 997.315070 8.219474 6.802195 15.021668 990.512875 9.889922% 9.884452%
IA 998.983529 7.776393 2.949424 10.725817 996.034105 9.341166% 9.352132%
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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
Page 1 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Remic II
Statement To Certificateholders
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LTFM 148,500,000.00 148,144,910.91 1,159,074.84 909,113.30 2,068,188.14 0.00 3,761.39 147,239,559.00
LTA1F 615,000.00 607,623.48 4,754.00 12,944.35 17,698.35 0.00 0.00 594,679.13
LTA2F 100,000.00 100,000.00 782.39 0.00 782.39 0.00 0.00 100,000.00
LTA3F 275,000.00 275,000.00 2,151.58 0.00 2,151.58 0.00 0.00 275,000.00
LTA4F 200,000.00 200,000.00 1,564.79 0.00 1,564.79 0.00 0.00 200,000.00
LTA5F 160,000.00 160,000.00 1,251.83 0.00 1,251.83 0.00 0.00 160,000.00
LTA6F 150,000.00 150,000.00 1,173.59 0.00 1,173.59 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 148,500,000.00 148,356,708.99 1,154,853.89 437,989.46 1,592,843.35 0.00 4,177.24 147,922,896.77
LTA1A 1,110,000.00 1,100,820.40 8,569.12 8,601.38 17,170.50 0.00 0.00 1,092,219.02
LTM1A 150,000.00 150,000.00 1,167.65 0.00 1,167.65 0.00 0.00 150,000.00
LTM2A 127,500.00 127,500.00 992.50 0.00 992.50 0.00 0.00 127,500.00
LFB1A 112,500.00 112,500.00 875.73 0.00 875.73 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 300,000,000.00 299,485,063.78 2,399,711.91 1,368,648.49 3,768,360.40 0.00 7,938.63 298,124,353.92
* Class LTAIO Represents a Notional Balance
</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 997.608828 7.805218 6.121975 13.927193 991.512182 9.388711% 9.380146%
LTA1F 988.005659 7.730081 21.047724 28.777805 966.957935 9.388711% 9.380146%
LTA2F 1,000.000000 7.823900 0.000000 7.823900 1,000.000000 9.388711% 9.380146%
LTA3F 1,000.000000 7.823927 0.000000 7.823927 1,000.000000 9.388711% 9.380146%
LTA4F 1,000.000000 7.823950 0.000000 7.823950 1,000.000000 9.388711% 9.380146%
LTA5F 1,000.000000 7.823937 0.000000 7.823937 1,000.000000 9.388711% 9.380146%
LTA6F 1,000.000000 7.823933 0.000000 7.823933 1,000.000000 9.388711% 9.380146%
LTAIO * 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 5.000000% 5.000000%
LTAM 999.035077 7.776794 2.949424 10.726218 996.113783 9.341166% 9.352132%
LTA1A 991.730090 7.719928 7.748991 15.468919 983.981099 9.341166% 9.352132%
LTM1A 1,000.000000 7.784333 0.000000 7.784333 1,000.000000 9.341166% 9.352132%
LTM2A 1,000.000000 7.784314 0.000000 7.784314 1,000.000000 9.341166% 9.352132%
LFB1A 1,000.000000 7.784267 0.000000 7.784267 1,000.000000 9.341166% 9.352132%
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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
* Notional Balance Page 2 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Remic III
Statement To Certificateholders
<CAPTION>
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MTFM 148,500,000.00 148,144,910.91 1,159,074.83 909,113.30 2,068,188.13 0.00 3,761.39 147,239,559.00
MTA1F 615,000.00 607,623.48 3,169.77 12,944.35 16,114.12 0.00 0.00 594,679.13
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 3,732.03 0.00 3,732.03 0.00 0.00 0.00
MTAM 148,500,000.00 148,356,708.99 1,154,853.87 437,989.46 1,592,843.33 0.00 4,177.24 147,922,896.77
MTA1A 1,110,000.00 1,100,820.40 5,391.73 8,601.38 13,993.11 0.00 0.00 1,092,219.02
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 4,117.66 0.00 4,117.66 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 300,000,000.00 299,485,063.78 2,399,711.90 1,368,648.49 3,768,360.39 0.00 7,938.63 298,124,353.92
</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 997.608828 7.805218 6.121975 13.927193 991.512182 9.388711% 9.380146%
MTA1F 988.005659 5.154098 21.047724 26.201821 966.957935 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 0.012440 0.000000 0.012440 0.000000 0.000000% 0.000000%
MTAM 999.035077 7.776794 2.949424 10.726218 996.113783 9.341166% 9.352132%
MTA1A 991.730090 4.857414 7.748991 12.606405 983.981099 5.877500% 5.877500%
MTM1A 1,000.000000 5.114600 0.000000 5.114600 1,000.000000 6.137500% 6.137500%
MTM2A 1,000.000000 5.281255 0.000000 5.281255 1,000.000000 6.337500% 6.337500%
MTB1A 1,000.000000 5.822933 0.000000 5.822933 1,000.000000 6.987500% 6.987500%
MTADJIO 0.000000 0.013726 0.000000 0.013726 0.000000 0.00000% 0.000000%
R3 0.000000 0.000000 0.000000 0.000000 0.000000 0.00000% 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: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
Page 3 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Remic IV
Statement To Certificateholders
<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 60,762,348.27 316,976.92 1,294,434.86 1,611,411.78 0.00 0.00 59,467,913.41
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 111,000,000.00 110,082,040.36 539,172.66 860,137.33 1,399,309.99 0.00 0.00 109,221,903.03
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 1,140,675.16 0.00 0.00 0.00 0.00 793,862.33 1,934,537.49
R4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 300,000,000.00 299,485,063.79 1,605,849.58 2,154,572.19 3,760,421.77 0.00 793,862.33 298,124,353.93
* Represents a Notional Amount
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1F 00253CEF0 988.005663 5.154096 21.047721 26.201817 966.957942 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 991.730093 4.857411 7.748985 12.606396 983.981108 5.877500% 5.877500%
M1A 00253CEP8 1,000.000000 5.114583 0.000000 5.114583 1,000.000000 6.137500% 6.137500%
M2A 00253CEQ6 1,000.000000 5.281250 0.000000 5.281250 1,000.000000 6.337500% 6.337500%
B1A 00253CER4 1,000.000000 5.822916 0.000000 5.822916 1,000.000000 6.987500% 6.987500%
C 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R4 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
SELLER: Aames Capital Corporation ADMINISTRATOR: David West
SERVICER: Aames Capital Corporation Bankers Trust Company
LEAD UNDERWRITER: Donaldson, Lufkin, & Jenrette Securities Inc. 3 Park Plaza
RECORD DATE: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 FACTOR INFORMATION: (800) 735-7777
Page 4 of 8 COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Statement To Certificateholders
Distribution Date: May 15, 1998
<CAPTION>
1 2 3+
DELINQUENT LOAN INFORMATION Payment Payments Payments Total
<S> <C> <C> <C> <C>
Fixed Group PRINCIPAL BALANCE 3,921,712.03 1,510,644.91 66,938.26 5,499,295.20
PERCENTAGE OF POOL BALANCE 2.63699% 1.01577% 0.04501% 3.69777%
NUMBER OF LOANS 65 18 2 85
PERCENTAGE OF POOL LOANS 2.47242% 0.68467% 0.07607% 3.23317%
Adj Group PRINCIPAL BALANCE 4,106,930.62 1,263,236.92 884,972.03 6,255,139.57
PERCENTAGE OF POOL BALANCE 2.74886% 0.84551% 0.59233% 4.18670%
NUMBER OF LOANS 40 23 5 68
PERCENTAGE OF POOL LOANS 2.51414% 1.44563% 0.31427% 4.27404%
FORECLOSURE LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 429,251.04 313,141.55 742,392.59
PERCENTAGE OF POOL BALANCE 0.00000% 0.28863% 0.21056% 0.49919%
NUMBER OF LOANS 0 7 6 13
PERCENTAGE OF POOL LOANS 0.00000% 0.26626% 0.22822% 0.49448%
Adj Group PRINCIPAL BALANCE 0.00 800,862.15 1,120,937.79 1,921,799.94
PERCENTAGE OF POOL BALANCE 0.00000% 0.53603% 0.75027% 1.28630%
NUMBER OF LOANS 0 13 9 22
PERCENTAGE OF POOL LOANS 0.00000% 0.81710% 0.56568% 1.38278%
REO LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
Adj Group PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
Fixed Group PRINCIPAL BALANCE 0.00 0.00 52,500.00 52,500.00
PERCENTAGE OF POOL BALANCE 0.00000% 0.00000% 0.03530% 0.03530%
NUMBER OF LOANS 0 0 1 1
PERCENTAGE OF POOL LOANS 0.00000% 0.00000% 0.03804% 0.03804%
Adj Group PRINCIPAL BALANCE 95,952.78 174,850.00 0.00 270,802.78
PERCENTAGE OF POOL BALANCE 0.06422% 0.11703% 0.00000% 0.18125%
NUMBER OF LOANS 1 2 0 3
PERCENTAGE OF POOL LOANS 0.06285% 0.12571% 0.00000% 0.18856%
TOTAL
Fixed Group PRINCIPAL BALANCE 3,921,712.03 1,939,895.95 432,579.81 6,294,187.79
PERCENTAGE OF POOL BALANCE 2.63699% 1.30440% 0.29087% 4.23226%
NUMBER OF LOANS 65 25 9 99
PERCENTAGE OF POOL LOANS 2.47242% 0.95093% 0.34234% 3.76569%
Adj Group PRINCIPAL BALANCE 4,202,883.40 2,238,949.07 2,005,909.82 8,447,742.29
PERCENTAGE OF POOL BALANCE 2.81308% 1.49858% 1.34260% 5.65425%
NUMBER OF LOANS 41 38 14 93
PERCENTAGE OF POOL LOANS 2.57700% 2.38843% 0.87995% 5.84538%
Page 5 of 8
COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL Fixed Group Adj Group Total
<S> <C> <C> <C>
SCHEDULED PRINCIPAL RECEIVED 167,555.33 89,776.93 257,332.26
PREPAYMENTS & CURTAILMENTS 750,740.93 352,636.67 1,103,377.60
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 918,296.26 442,413.60 1,360,709.86
SOURCES OF INTEREST
SCHEDULED INTEREST 1,310,528.22 1,228,895.37 2,539,423.59
REPURCHASES/SUBSTITUTIONS 0.00 0.00 0.00
LIQUIDATION PROCEEDS 0.00 0.00 0.00
INSURANCE PROCEEDS 0.00 0.00 0.00
OTHER INTEREST 0.00 0.00 0.00
LESS: DELINQUENT INTEREST (198,013.55) (213,260.31) (411,273.86)
LESS: PPIS 0.00 0.00 0.00
LESS: PPIS CIVIL RELIEF SHORTFALL 0.00 0.00 0.00
LESS: CURRENT SERVICING FEES (53,656.78) (52,487.81) (106,144.59)
LESS: REALIZED LOSSES 0.00 0.00 0.00
PLUS: COMPENSATING INTEREST 0.00 0.00 0.00
PLUS: INTEREST ADVANCED AMOUNT 189,321.36 203,311.64 392,633.00
PLUS: CAPITALIZED INTEREST AMOUNT 0.00 0.00 0.00
PLUS: CLOSING DATE DEPOSIT 0.00 0.00 0.00
TOTAL INTEREST 1,248,179.25 1,166,458.89 2,414,638.14
PERMITTED WITHDRAWALS
0.00 0.00 0.00
TOTAL SOURCES
2,166,475.51 1,608,872.49 3,775,348.00
MORTGAGE REPLACEMENT SUBSTITUTION AMOUNT 599.75
TOTAL REMITTANCE DUE 3,774,748.25
Page 6 of 8
COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
SERVICING FEES Fixed Group Adj Group Total
<S> <C> <C> <C>
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 62,348.97 62,436.47 124,785.44
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 0.00 0.00
LESS: DELINQUENT SERVICE FEES: (8,692.19) (9,948.66) (18,640.85)
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 53,656.78 52,487.81 106,144.59
AMOUNT PER $1000 CERTIFICATE:
POOL INFORMATION Fixed Group Adj Group Total
PRIOR PRINCIPAL BALANCE OF POOL: 149,637,534.39 149,847,529.39 299,485,063.78
CURRENT PRINCIPAL BALANCE OF POOL: 148,719,238.12 149,405,115.80 298,124,353.92
GROUP FACTOR: 99.14616% 99.60341% 99.37479%
PRIOR NUMBER OF LOANS: 2,662 1,604 4,266
CURRENT NUMBER OF LOANS: 2,629 1,591 4,220
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 13 46
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.50962% 9.84117%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.50385% 9.85213%
WEIGHTED AVERAGE TERM TO MATURITY: 294 355
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 % 26.62%
STEPPED UP SENIOR ENHANCEMENT % 94.37%
OVERCOLLATERALIZATION Fixed Group Adj Group
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 376,138.60 417,723.73
OVERCOLLATERALIZATION AMOUNT 751,324.71 1,183,212.77
TARGET OVERCOLLATERALIZATION AMOUNT 4,875,000.00 5,250,000.00
Page 7 of 8
COPYRIGHT 1998 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
Aames Capital Corporation
Mortgage Pass-Through Certificates
Series 1998-A
Statement To Certificateholders
<CAPTION>
Distribution Date: May 15, 1998
INTEREST CARRY FORWARD AMOUNT Prior Current
<S> <C> <C>
CLASS A1F 0.00 0.00
CLASS A2F 0.00 0.00
CLASS A3F 0.00 0.00
CLASS A4F 0.00 0.00
CLASS A5F 0.00 0.00
CLASS A6F 0.00 0.00
CLASS AIO 0.00 0.00
CLASS 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: 14,926.23
INSURED AMOUNTS: 0.00
UNPAID INSURED AMOUNTS AND INTEREST ON THE AMOUNTS: 0.00
Page 8 of 8
COPYRIGHT 1998 Bankers Trust Company
</TABLE>
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