<PAGE>
---------------------------------------------------
---------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
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)
NOVEMBER 15, 1999
AAMES CAPITAL CORPORATION
----------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
CALIFORNIA 333-46893-01 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>
The Registrant filed its Form 8-K on November 30, 1999 and in that
filing the Registrant indicated that Exhibit 20.1 would be filed by
amendment. This amendment is being filed for the purpose of filing Exhibit
20.1 and for the purpose of ensuring that this Form 8-K/A appears on the
Commission's EDGAR system under the name of the Registrant.
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 1991-1 - Statement to Certificateholders
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/ DAVID A. SKLAR
---------------------------
David A. Sklar
Executive Vice President
Dated: December 1, 1999
3
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
<S> <C>
20.1 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1991-1 - Statement to Certificateholders
</TABLE>
4
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
NOVEMBER 15, 1999 DISTRIBUTION
- ------------------------------------------------------------------------------
Contents
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TABLE OF CONTENTS
-----------------------------------------------------------------------------------------------
PAGE
<S><C> <C>
1. Contents 1
2. Certificate Payment Report 2
3. Collection Account Report 6
4. Credit Enhancement Report 9
5. Collateral Report 10
6. Delinquency Report 13
7. REO Report 16
8. Prepayment Report 17
9. Prepayment Detail Report 20
10. Realized Loss Report 22
11. Realized Loss Detail Report 25
12. Triggers, Adj. Rate Cert. and Miscellaneous Report 26
------
Total Number of Pages 26
</TABLE>
--------------------------------------------------------
CONTACTS
--------------------------------------------------------
Administrator: David C. West
Direct Phone Number: (714)247-6287
Address: Deutsche Bank
1761 E. St. Andrew Place, Santa Ana, CA 92705
Web Site: http://www-apps.gis.deutsche-bank.com/invr
Factor Information: (800) 735-7777
Main Phone Number: (714) 247-6000
--------------------------------------------------------
ISSUANCE INFORMATION
- -----------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
Seller: Aames Capital Corporation Cut-Off Date: July 1, 1999
Certificate Insurer: Financial Security Assurance Inc. Closing Date: August 5, 1999
Servicer(s): Aames Capital Corporation Master Servicer First Payment Date: August 16, 1999
Fairbanks Capital Corp. Back-Up Servicer
Underwriter(s): Lehman Brothers Securities Corporation Lead Underwriter Distribution Date: November 15, 1999
Banc Of America Securities LLC Co-Lead Underwriter Record Date: November 12, 1999
Greenwich Capital Markets, Inc. Co-Lead Underwriter October 29, 1999
</TABLE>
- -------------------------------------------------------------------------------
Page 1 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC I SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
DISTRIBUTION IN DOLLARS - CURRENT PERIOD
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Prior Current
Class Original Principal Total Realized Deferred Principal
Class Type Face Value Balance Interest Principal Distribution Losses Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3) (5) (6) (7)=(1)-(3)-(5)+(6)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LT-AF 19,123.50 18,676.60 113.46 187.44 300.90 - - 18,489.16
LT-MF 196,688,617.88 193,239,018.52 1,473,634.28 1,535,010.75 3,008,645.03 - 33.92 191,704,041.69
LT-AV 20,203.50 19,606.25 98.03 359.19 457.22 - - 19,247.06
LT-MV 203,337,008.17 199,695,053.80 1,581,709.51 2,990,061.03 4,571,770.54 - 60.16 196,705,052.93
P 100.00 100.00 61,534.86 - 61,534.86 - - 100.00
- -----------------------------------------------------------------------------------------------------------------------------------
R-I - - 0.01 - 0.01 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total 400,065,143.05 392,972,455.17 3,117,090.15 4,525,618.41 7,642,708.56 - 94.08 388,446,930.84
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
INTEREST ACCRUAL DETAIL CURRENT PERIOD FACTOR INFORMATION PER $1,000
OF ORIGINAL FACE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Orig. Principal Prior Current
Period Period (with Notional) Principal Total Principal
Class Starting Ending Method Cusip Balance Balance Interest Principal Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3) (5)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LT-AF F-30/360 19,123.50 976.630847 5.933014 9.801553 15.734567 966.829294
LT-MF F-30/360 196,688,617.88 982.461622 7.492219 7.804268 15.296488 974.657526
LT-AV 10/15/99 11/14/99 A-Act/360 20,203.50 970.438290 4.852130 17.778603 22.630732 952.659688
LT-MV F-30/360 203,337,098.17 982.088638 7.778755 14.704946 22.483701 967.383988
P - 100.00 1,000.000000 615,348.600000 - 615,348.600000 1,000.000000
- -----------------------------------------------------------------------------------------------------------------------------------
R-I - - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC I SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
DISTRIBUTION IN DOLLARS - TO DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Current
Original Unscheduled Scheduled Total Total Realized Deferred Principal
Class Face Value Interest Principal Principal Principal Distribution Losses Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) (9)=(1)-(5)-
(7)+(8)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LT-AF 19,123.50 460.39 541.54 92.80 634.34 1,094.73 - - 18,489.16
LT-MF 196,688,617.88 5,961,437.48 4,295,348.94 689,363.07 4,984,712.01 10,946,149.49 - 135.82 191,704,041.69
LT-AV 20,203.50 323.20 892.26 64.18 956.44 1,279.64 - - 19,247.06
LT-MV 203,337,098.17 6,162,915.17 6,157,626.74 474,711.64 6,632,338.38 12,795,253.55 - 293.15 196,705,052.93
P 100.00 153,924.48 - - - 153,924.48 - - 100.00
R-I - 0.01 - - - 0.01 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total 400,065,143.05 12,279,060.73 10,454,409.48 1,164,231.69 11,618,641.17 23,897,701.90 - 428.97 388,446,930.84
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
INTEREST DETAIL
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Pass- Prior Principal Non- Prior Unscheduled Paid or Current
Through (with Notional) Accrued Supported Unpaid Interest Optimal Deferred Unpaid
Class Rate Balance Interest Interest SF Interest Adjustments Interest Interest Interest
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LT-AF 7.29000% 18,676.60 113.46 - - - 113.46 113.46 -
LT-MF 9.15119% 193,239,018.52 1,473,634.28 - - - 1,473,634.28 1,473,668.20 -
LT-AV 5.80625% 19,606.25 98.03 - - - 98.03 98.03 -
LT-MV 9.50477% 199,695,053.80 1,581,709.51 - - - 1,581,709.51 1,581,769.67 -
P 100.00 - - - - 61,534.86 61,534.86 -
- -----------------------------------------------------------------------------------------------------------------------------------
R-I - - - - - - 0.01 -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total 392,972,455.17 3,055,555.28 - - - 3,117,090.14 3,117,184.23 -
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC II SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
DISTRIBUTION IN DOLLARS - CURRENT PERIOD
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Prior Current
Class Original Principal Total Realized Deferred Principal
Class Type Face Value Balance Interest Principal Distribution Losses Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3) (5) (6) (7)=(1)-(3)-(5)+(6)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-F STEP 191,235,000.00 186,766,004.25 1,134,603.48 1,874,342.45 3,008,945.93 - - 184,891,661.80
A-V STEP 202,035,000.00 196,062,485.31 980,278.39 3,591,949.38 4,572,227.77 - - 192,470,535.93
C 6,795,043.05 11,445,371.60 - - - - 1,604,732.97 13,050,104.57
R-II - - - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total 400,065,043.05 94,273,861.16 2,114,881.87 5,466,291.83 7,581,173.70 - 1,604,732.97 390,412,302.30
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
INTEREST ACCRUAL DETAIL CURRENT PERIOD FACTOR INFORMATION PER $1,000
OF ORIGINAL FACE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Orig. Principal Prior Current
Period Period (with Notional) Principal Total Principal
Class Starting Ending Method Cusip Balance Balance Interest Principal Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3) (5)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
A-F F-30/360 00253CFM4 191,235,000.00 976.630869 5.933033 9.801252 15.734285 966.829617
A-V 10/15/99 11/14/99 A-Act/360 00253CFN2 202,035,000.00 970.438218 4.852023 17.778847 22.630870 952.659371
C - 6,795,043.05 1,684.370727 - - - 1,920.533023
R-II - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
NOTE: ADJUSTABLE RATE CERTIFICATES HAVE A RECORD DATE THAT IS
ONE BUSINESS DAY PRIOR TO DISTRIBUTION
Page 4 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC II SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
DISTRIBUTION IN DOLLARS - TO DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Current
Original Unscheduled Scheduled Total Total Realized Deferred Principal
Class Face Value Interest Principal Principal Principal Distribution Losses Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) (9)=(1)-(5)-
(7)+(8)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-F 191,235,000.00 4,603,906.02 5,415,407.32 927,930.88 6,343,338.20 10,947,244.22 - - 184,891,661.80
A-V 202,035,000.00 3,232,069.14 8,922,578.53 641,885.54 9,564,464.07 12,796,533.21 - - 192,470,535.93
C 6,795,043.05 - - - - - - 6,255,061.52 13,050,104.57
R-II - - - - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total 400,065,043.05 7,835,975.16 14,337,985.85 1,569,816.42 15,907,802.27 23,743,777.43 - 6,255,061.52 390,412,302.30
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
INTEREST DETAIL
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Pass- Prior Principal Non- Prior Unscheduled Paid or Current
Through (with Notional) Accrued Supported Unpaid Interest Optimal Deferred Unpaid
Class Rate Balance Interest Interest SF Interest Adjustments Interest Interest Interest
- -----------------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-F 7.29000% 186,766,004.25 1,134,603.48 - - - 1,134,603.48 1,134,603.48 -
A-V 5.80625% 196,062,485.31 980,278.39 - - - 980,278.39 980,278.39 -
C 11,445,371.60 - - - - - 1,604,732.97 -
R-II - - - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total 394,273,861.16 3,114,881.87 - - - 2,114,881.87 3,719,614.84 -
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
- --------------------------------------------------------------------------------
Collection Account Report
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY ADJUSTABLE FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Principal Collections 2,990,360.07 1,535,164.27 4,525,524.34
Principal Withdrawals 0.00 0.00 0.00
Principal Other Accounts 0.00 0.00 0.00
TOTAL NET PRINCIPAL 2,990,360.07 1,535,164.27 4,525,524.34
Interest Collections 1,734,497.68 1,603,083.08 3,337,580.76
Interest Withdrawals 0.00 0.00 0.00
Interest Other Accounts 0.00 0.00 0.00
Interest Fees (111,320.83) (109,075.71) (220,396.54)
TOTAL NET INTEREST 1,623,176.85 1,494,007.37 3,117,184.22
TOTAL AVAILABLE FUNDS TO BONDHOLDERS 4,613,536.92 3,029,171.64 7,642,708.56
TOTAL REMITANCE DUE FROM SERVICER 4,655,276.28 3,068,994.66 7,724,270.94
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL - COLLECTIONS ADJUSTABLE FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Scheduled Principal 250,662.62 193,758.75 444,421.37
Curtailments 0.00 0.00 0.00
Prepayments in Full 2,739,697.45 1,341,405.52 4,081,102.97
Repurchases/Substitutions 0.00 0.00 0.00
Liquidations 0.00 0.00 0.00
Insurance Principal 0.00 0.00 0.00
Other Additional Principal 0.00 0.00 0.00
Delinquent Principal 0.00 0.00 0.00
Realized Losses 0.00 0.00 0.00
Mortgage Replacement Amount 0.00 0.00 0.00
TOTAL PRINCIPAL COLLECTED 2,990,360.07 1,535,164.27 4,525,524.34
- ------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Collection Account Report for November 15, 1999 Distribution
- --------------------------------------------------------------------------------
COLLECTION ACCOUNT REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PRINCIPAL - WITHDRAWALS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL - OTHER ACCOUNTS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Prefunded Release Amount 0.00 0.00 0.00
TOTAL OTHER ACCOUNTS PRINCIPAL 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST - COLLECTIONS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Scheduled Interest 1,706,821.50 1,594,128.72 3,300,950.22
Repurchases/Substitutions 0.00 0.00 0.00
Liquidations 0.00 0.00 0.00
Insurance Interest 0.00 0.00 0.00
Other Additional Interest 0.00 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00 0.00
Delinquent Interest (300,198.69) (251,221.19) (551,419.88)
Realized Losses 0.00 0.00 0.00
Compensating Interest 0.00 0.00 0.00
Other Interest Shortfall (Relief Act) 0.00 0.00 0.00
Interest Advanced 286,565.72 239,949.84 526,515.56
Closing Date Deposits 0.00 0.00 0.00
Insurer Interest to Cover PPIS 0.00 0.00 0.00
Prepayment Penalties 41,309.15 20,225.71 61,534.86
TOTAL INTEREST COLLECTED 1,734,497.68 1,603,083.08 3,337,580.76
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
-C- COPYRIGHT 1999 Deutsche Bank
Page 7 of 26
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Collection Account Report for November 15, 1999 Distribution
- --------------------------------------------------------------------------------
COLLECTION ACCOUNT REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Unpaid Servicing Fees 0.00 0.00 0.00
Advances Reimbursed 0.00 0.00 0.00
TOTAL INTEREST WITHDRAWLS 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST - OTHER ACCOUNTS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Capitialized Interest Requirement 0.00 0.00 0.00
TOTAL OTHER ACCOUNT INTEREST 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST - FEES ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Current Servicing Fees 69,581.47 69,252.69 138,834.16
Back Up Servicing Fees 4,160.72 4,026.20 8,186.92
Certificate Insurance Premiums 37,578.64 35,796.82 73,375.46
Trustee Fees 0.00 0.00 0.00
TOTAL INTEREST OTHER FEES 111,320.83 109,075.71 220,396.54
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
-C- COPYRIGHT 1999 Deutsche Bank
Page 8 of 26
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Credit Enhancement Report for November 15, 1999 Distribution
- --------------------------------------------------------------------------------
CREDIT ENHANCEMENT REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
ACCOUNTS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INSURANCE ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Insurance Premium Due 37,578.64 35,796.82 73,375.46
Insurance Premium Paid 37,578.64 35,796.82 73,375.46
Reimbursements to Certificate Insurer 0.00 0.00 0.00
Insured Payments Made By Certiifcate Insurer 0.00 0.00 0.00
Insurance Premiums Due but not Paid 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
STRUCTURAL FEATURES ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Extra Principal Distribution Amt 601,589.31 339,178.18 940,767.49
Overcollateralization Amount 4,253,764.05 6,830,869.05 11,084,633.10
Targeted Overcollateralization Amt 11,489,687.54 10,818,925.78 22,308,613.32
Overcollateralization Release Amount 0.00 0.00 0.00
Overcollateralization Defficiency Amt 7,837,512.80 4,327,234.91 12,164,747.71
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
-C- COPYRIGHT 1999 Deutsche Bank
Page 9 of 26
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Collateral Report for November 15, 1999 Distribution
- --------------------------------------------------------------------------------
COLLATERAL REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COLLATERAL ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Loan Count:
ORIGINAL 1786 3011 4797
Prior 2,194 2,953 5,147
Prefunding - - -
Scheduled Paid Offs - - -
Full Voluntary Prepayments (24) (28) (52)
Repurchases - - -
Liquidations - - -
---------------------------------------------------------------------------------------------------------------------
Current 2,170 2,925 5,095
PRINCIPAL BALANCE:
Original 163,359,100.25 196,707,741.38 360,066,841.63
Prior 199,714,660.05 193,257,695.12 392,972,355.17
Prefunding - - -
Scheduled Principal (250,662.62) (193,758.75) (444,421.37)
Partial and Full Voluntary Prepayments (2,739,697.45) (1,341,405.52) (4,081,102.97)
Repurchases - - -
---------------------------------------------------------------------------------------------------------------------
Liquidations - - -
Current 196,724,299.98 191,722,530.85 388,446,830.83
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Prefunding Beginning Balance 0.00 0.00
Balance of Subsequent Loans Transfered 0.00 0.00
Prefunded Amount Dispursed To Offered Certificates 0.00 0.00
Prefunding Ending Balance 0.00 0.00
Capitalized Interest Beginning Balance 0.00 0.00
Capitalized Interest Requirement 0.00 0.00
Capitalized Interest Released to Seller 0.00 0.00
Capitalized Interest Ending Balance 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
CURRENT PRIN BALANCE BY TOTAL CURRENT PRINCIPAL
GROUPS (IN MILLIONS OF DOLLARS) BALANCE (IN MILLIONS OF DOLLARS
[GRAPH] [GRAPH]
-C- COPYRIGHT 1999 Deutsche Bank
Page 10 of 26
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Collateral Report for November 15, 1999 Distribution
- --------------------------------------------------------------------------------
COLLATERAL REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
CHARACTERISTICS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Weighted Average Coupon Original 10.202764% 9.908650% 10.042087%
Weighted Average Coupon Prior 10.229863% 9.905925% 10.070501%
Weighted Average Coupon Current 10.255561% 9.898465% 10.079946%
-----------------------------------------------------------------------------------------------------------------------
Weighted Average Months to Maturity Original 354 316 333
Weighted Average Months to Maturity Prior 353 314 334
Weighted Average Months to Maturity Current 352 312 332
-----------------------------------------------------------------------------------------------------------------------
Weighted Avg Remaining Amortization Term Original 355 316 334
Weighted Avg Remaining Amortization Term Prior 353 314 334
Weighted Avg Remaining Amortization Term Current 352 313 333
-----------------------------------------------------------------------------------------------------------------------
Weighted Average Seasoning Original 3.10 3.06 3.08
Weighted Average Seasoning Prior 4.40 5.05 4.72
Weighted Average Seasoning Current 5.38 6.03 5.71
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
NOTE: ORIGINAL INFORMATION REFERS TO DEAL ISSUE.
WAC BY GROUPS TOTAL WAC
[GRAPH] [GRAPH]
WARAT BY GROUPS TOAL WARAT
[GRAPH] [GRAPH]
NOTE: DATES CORRESPOND TO DISTRIBUTION DATES.
-C- COPYRIGHT 1999 Deutsche Bank
Page 11 of 26
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Collateral Report for November 15, 1999 Distribution
- -------------------------------------------------------------------------------
COLLATERAL REPORT
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
ARM CHARACTERISTICS ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Weighted Average Margin Original 5.948%
Weighted Average Margin Prior 5.932%
Weighted Average Margin Current 5.935%
-----------------------------------------------------------------------------------------------------------------------
Weighted Average Max Rate Original 16.953%
Weighted Average Max Rate Prior 16.826%
Weighted Average Max Rate Current 16.832%
-----------------------------------------------------------------------------------------------------------------------
Weighted Average Min Rate Original 10.160%
Weighted Average Min Rate Prior 10.169%
Weighted Average Min Rate Current 10.176%
-----------------------------------------------------------------------------------------------------------------------
Weighted Average Cap Up Original 2.735%
Weighted Average Cap Up Prior 2.601%
Weighted Average Cap Up Current 2.602%
-----------------------------------------------------------------------------------------------------------------------
Weighted Average Cap Down Original 2.735%
Weighted Average Cap Down Prior 2.601%
Weighted Average Cap Down Current 2.602%
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
NOTE: ORIGINAL INFORMATION REFERS TO DEAL ISSUE.
<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Current Servicing Fees 69,581.47 69,252.69 138,834.16
Delinquent Servicing Fees 13,632.97 11,271.34 24,904.31
TOTAL SERVICING FEES 83,214.44 80,524.03 163,738.47
Total Servicing Fees 83,214.44 80,524.03 163,738.47
Compensating Interest 0.00 0.00 0.00
Delinquent Servicing Fees (13,632.97) (11,271.34) (24,904.31)
COLLECTED SERVICING FEES 69,581.47 69,252.69 138,834.16
Prepayment Interest Shortfall 0.00 0.00 0.00
Total Advanced Interest 286,565.72 239,949.84 526,515.56
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
-C- COPYRIGHT 1999 Deutsche Bank
Page 12 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DELINQUENCY REPORT - TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 7,964,942.37 996,071.46 554,707.44 9,515,721.27
% Balance 2.05% 0.26% 0.14% 2.45%
# Loans 123 17 9 149
% # Loans 2.41% 0.33% 0.18% 2.92%
- ----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 22,709.94 339,970.86 5,577,391.89 7,451,721.54 13,391,794.23
% Balance 0.01% 0.09% 1.44% 1.92% 3.45%
# Loans 1 7 75 116 199
% # Loans 0.02% 0.14% 1.47% 2.28% 3.91%
- ----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 787,203.85 37,370.86 348,810.52 212,449.42 1,385,834.65
% Balance 0.20% 0.01% 0.09% 0.05% 0.36%
# Loans 10 1 5 3 19
% # Loans 0.20% 0.02% 0.10% 0.06% 0.37%
- ----------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 428,768.01 428,768.01
% Balance 0.00% 0.00% 0.00% 0.11% 0.11%
# Loans - - - 2 2
% # Loans 0.00% 0.00% 0.00% 0.04% 0.04%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 809,913.79 8,342,284.09 6,922,273.87 8,647,646.41 24,722,118.16
% Balance 0.21% 2.15% 1.78% 2.23% 6.36%
# Loans 11 131 97 130 369
% # Loans 0.22% 2.57% 1.90% 2.55% 7.24%
- ----------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
6 MONTHS MOVING AVERAGE
</TABLE>
1 OR 2 PAYMENTS DELINQUENT 3 OR MORE PAYMENTS DELINQUENT
[GRAPH] [GRAPH]
TOTAL FORECLOSURE TOTAL BANKRUPTCY AND REO
[GRAPH] [GRAPH]
NOTE: DATES CORRESPOND TO DISTRIBUTION DATES.
Page 13 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DELINQUENCY REPORT - FIXED GROUP
- ----------------------------------------------------------------------------------------------------------------------------------
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 3,667,942.30 586,635.33 220,759.64 4,475,337.27
% Balance 1.91% 0.31% 0.12% 2.33%
# Loans 72 9 8 89
% # Loans 2.46% 0.31% 0.27% 3.04%
- ----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance - - 2,658,191.71 2,406,379.41 5,064,571.12
% Balance 0.00% 0.00% 1.39% 1.26% 2.64%
# Loans - - 39 50 89
% # Loans 0.00% 0.00% 1.33% 1.71% 3.04%
- ----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 124,524.54 - 258,953.31 212,449.42 595,927.27
% Balance 0.06% 0.00% 0.14% 0.11% 0.31%
# Loans 3 - 4 3 10
% # Loans 0.10% 0.00% 0.14% 0.10% 0.34%
- ----------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 85,150.00 85,150.00
% Balance 0.00% 0.00% 0.00% 0.04% 0.04%
# Loans - - - 1 1
% # Loans 0.00% 0.00% 0.00% 0.03% 0.03%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 124,524.54 3,667,942.30 3,503,780.35 2,924,738.47 10,220,985.66
% Balance 0.06% 1.91% 1.83% 1.53% 5.33%
# Loans 3 72 52 62 189
% # Loans 0.10% 2.46% 1.78% 2.12% 6.46%
- ----------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
6 MONTHS MOVING AVERAGE
</TABLE>
1 OR 2 PAYMENTS DELINQUENT 3 OR MORE PAYMENTS DELINQUENT
[GRAPH] [GRAPH]
TOTAL FORECLOSURE TOTAL BANKRUPTCY AND REO
[GRAPH] [GRAPH]
NOTE: DATES CORRESPOND TO DISTRIBUTION DATES.
Page 14 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DELINQUENCY REPORT - ADJUSTABLE GROUP
- ----------------------------------------------------------------------------------------------------------------------------------
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 4,297,000.07 409,436.13 333,947.80 5,040,384.00
% Balance 2.18% 0.21% 0.17% 2.56%
# Loans 51 8 1 60
% # Loans 2.35% 0.37% 0.05% 2.76%
- ----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 22,709.94 339,970.86 2,919,200.18 5,045,342.13 8,327,223.11
% Balance 0.01% 0.17% 1.48% 2.56% 4.23%
# Loans 1 7 36 66 110
% # Loans 0.05% 0.32% 1.66% 3.04% 5.07%
- ----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 662,679.31 37,370.86 89,857.21 - 789,907.38
% Balance 0.34% 0.02% 0.05% 0.00% 0.40%
# Loans 7 1 1 - 9
% # Loans 0.32% 0.05% 0.05% 0.00% 0.41%
- ----------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 343,618.01 343,618.01
% Balance 0.00% 0.00% 0.00% 0.17% 0.17%
# Loans - - - 1 1
% # Loans 0.00% 0.00% 0.00% 0.05% 0.05%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 685,389.25 4,674,341.79 3,418,493.52 5,722,907.94 14,501,132.50
% Balance 0.35% 2.38% 1.74% 2.91% 7.37%
# Loans 8 59 45 68 180
% # Loans 0.37% 2.72% 2.07% 3.13% 8.29%
- ----------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
6 MONTHS MOVING AVERAGE
</TABLE>
1 OR 2 PAYMENTS DELINQUENT 3 OR MORE PAYMENTS DELINQUENT
[GRAPH] [GRAPH]
TOTAL FORECLOSURE TOTAL BANKRUPTCY AND REO
[GRAPH] [GRAPH]
NOTE: DATES CORRESPOND TO DISTRIBUTION DATES.
Page 15 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REO REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION
- -----------------------------------------------------------------------------------------------------------------------------------
SUMMARY LOAN GROUP
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
Total Loan Count = 2 Loan Group 1 = Fixed Group; REO Book Value = Not Available
Total Original Principal Balance = 429,150.00 Loan Group 2 = Adjustable Group; REO Book Value = Not Available
Total Current Balance = 428,768.01
REO Book Value = Not Available
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Loan Number Original Stated Current State &
& Principal Principal Paid to Note LTV at Original Origination
Loan Group Balance Balance Date Rate Origination Term Date
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
9482059 1 85,150.00 85,150.00 May-01-99 14.120% TN - 65.00% 360 Apr-09-99
9453261 2 344,000.00 343,618.01 May-01-99 10.870% VA - 80.00% 360 Feb-03-99
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 16 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
- ------------------------------------------------------------------------------------------------------------
VOLUNTARY PREPAYMENTS ADJUSTABLE FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CURRENT
Number of Paid in Full Loans 24 28 52
Number of Repurchased Loans - - -
-------------------------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full 24 28 52
Paid in Full Balance 2,739,697.45 1,341,405.52 4,081,102.97
Repurchased Loans Balance - - -
Curtailments Amount - - -
-------------------------------------------------------------------------------------------------------
Total Prepayment Amount 2,739,697.45 1,341,405.52 4,081,102.97
CUMULATIVE
Number of Paid in Full Loans 59 86 145
Number of Repurchased Loans - - -
-------------------------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full 59 86 145
Paid in Full Balance 6,166,004.07 4,313,834.32 10,479,838.39
Repurchased Loans Balance - - -
Curtailments Amount (83,220.79) (158,587.56) (241,808.35)
-------------------------------------------------------------------------------------------------------
Total Prepayment Amount 6,082,783.28 4,155,246.76 10,238,030.04
SPACE INTENTIONALLY LEFT BLANK
- ------------------------------------------------------------------------------------------------------------
</TABLE>
TOTAL PREPAYMENTS AS GROUPS (IN THOUSANDS OF DOLLARS)
[GRAPH]
TOTAL PREPAYMENTS (IN THOUSANDS OF DOLLARS)
[GRAPH]
Page 17 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------
Prepayment Report - Voluntary Prepayments
- ----------------------------------------------------------------------------------------------------------------------------
VOLUNTARY PREPAYMENT RATES ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SMM 1.37% 0.69% 1.04%
3 Months Avg SMM 1.02% 0.74% 0.88%
12 Months Avg SMM
Avg SMM Since Cut-off 0.77% 0.55% 0.66%
CPR 15.29% 8.03% 11.79%
3 Months Avg CPR 11.59% 8.47% 10.07%
12 Months Avg CPR
Avg CPR Since Cut-off 8.83% 6.43% 7.65%
PSA 1420.02% 665.04% 1032.99%
3 Months Avg PSA Approximation 1317.80% 839.67% 1067.34%
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation 1083.47% 706.31% 888.34%
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
CPR BY GROUPS TOTAL CPR
[GRAPH] [GRAPH]
PSA BY GROUPS TOTAL PSA
[GRAPH] [GRAPH]
Page 18 of 26
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR NOVEMBER 15, 1999 DISTRIBUTION
- -------------------------------------------------------------------------------
PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
- -------------------------------------------------------------------------------
CPR AVG SINCE CUT-OFF BY GROUPS TOTAL CPR AVG SINCE CUT-OFF
[GRAPH] [GRAPH]
PSA AVG SINCE CUT-OFF BY GROUPS TOTAL PSA AVG SINCE CUT-OFF
[GRAPH] [GRAPH]
PREPAYMENT CALCULATION METHODOLOGY
- -------------------------------------------------------------------------------
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments
+ Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m):
[(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m):
1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month:
AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/
(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and include
partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
- -------------------------------------------------------------------------------
Page 19 of 26
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Prepayment Detail Report For November 15, 1999 Distribution
- ------------------------------------------------------------------------------
PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- ------------------------------------------------------------------ ----------------------------------------------
<S> <C>
Total Loan Count = 52 Loan Group 1 = Fixed Group
Total Original Principal Balance = 4,095,850.00 Loan Group 2 = Adjustable Group
Total Prepayment Amount = 4,081,102.97
- ------------------------------------------------------------------ ----------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------
Loan Number Original Current State & Type Prepayment
& Loan Principal Prepayment Prepayment Note LTV at & Origination
Loan Group Status Balance Amount Date Rate Origination Original Term Date
- -------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
4501896 1 25,000.00 24,706.17 Oct-31-99 12.500% PA - 64.10% Paid Off - 180 Dec-29-98
5522528 1 15,700.00 15,649.60 Oct-31-99 9.950% TN - 89.70% Paid Off - 360 Jan-25-99
6444202 1 35,000.00 34,060.78 Oct-31-99 10.350% TX - 54.60% Paid Off - 180 Oct-05-98
7235828 1 17,000.00 15,954.42 Oct-31-99 10.500% IL - 75.00% Paid Off - 72 Mar-01-99
7239106 1 16,400.00 16,223.77 Oct-31-99 11.450% MA - 75.00% Paid Off - 180 Mar-16-99
7245033 1 12,000.00 11,901.65 Oct-31-99 11.950% OH - 69.00% Paid Off - 180 Mar-31-99
7261578 1 FCL 50,000.00 49,961.21 Oct-31-99 12.500% NJ - 46.00% Paid Off - 360 Mar-29-99
7265069 1 88,000.00 87,780.03 Oct-31-99 8.400% VA - 70.00% Paid Off - 360 Apr-02-99
7267916 1 47,687.00 47,573.97 Oct-31-99 9.750% CO - 53.00% Paid Off - 360 Apr-21-99
7619391 1 49,400.00 49,388.71 Oct-31-99 13.000% MI - 65.00% Paid Off - 360 Jun-14-99
9399038 1 97,500.00 97,264.20 Oct-31-99 13.420% TN - 65.00% Paid Off - 360 Oct-14-98
9403558 1 78,390.00 78,055.67 Oct-31-99 10.990% AZ - 80.80% Paid Off - 360 Oct-23-98
9418245 1 25,000.00 24,900.89 Oct-31-99 11.340% IL - 27.70% Paid Off - 360 Nov-16-98
9422722 1 80,000.00 79,599.73 Oct-31-99 9.590% HI - 26.60% Paid Off - 360 Nov-24-98
9423834 1 32,500.00 32,451.39 Oct-31-99 14.170% MI - 65.00% Paid Off - 360 Nov-30-98
9424407 1 191,250.00 190,911.08 Oct-31-99 12.690% IN - 75.00% Paid Off - 360 Nov-30-98
9427929 1 58,500.00 58,209.39 Oct-31-99 8.500% AZ - 79.00% Paid Off - 360 Nov-30-98
9435484 1 31,000.00 30,866.72 Oct-31-99 11.470% TX - 85.00% Paid Off - 360 Dec-17-98
9435611 1 29,900.00 29,838.30 Oct-31-99 13.040% LA - 65.00% Paid Off - 360 Dec-21-98
9445501 1 39,650.00 39,591.95 Oct-31-99 13.540% LA - 65.00% Paid Off - 360 Jan-19-99
9463879 1 70,200.00 70,113.25 Oct-31-99 12.750% NV - 65.00% Paid Off - 360 Feb-25-99
9471707 1 39,000.00 38,912.83 Oct-31-99 10.030% TN - 60.00% Paid Off - 360 Mar-15-99
9475281 1 19,000.00 18,466.52 Oct-31-99 10.820% IL - 23.70% Paid Off - 360 Mar-29-99
9475451 1 FCL 60,900.00 60,879.31 Oct-31-99 11.220% MI - 49.90% Paid Off - 360 Mar-29-99
9478639 1 36,000.00 35,946.02 Oct-31-99 12.000% NE - 64.00% Paid Off - 360 Mar-31-99
9479023 1 29,600.00 29,220.24 Oct-31-99 9.500% WI - 80.00% Paid Off - 180 Mar-31-99
9485856 1 FCL 54,000.00 54,000.00 Oct-31-99 14.420% DC - 49.00% Paid Off - 360 May-07-99
9501304 1 19,000.00 18,977.72 Oct-31-99 10.620% IN - 54.00% Paid Off - 360 May-12-99
1423495 2 276,250.00 276,017.04 Oct-31-99 12.125% NJ - 65.00% Paid Off - 360 May-24-99
3863158 2 135,100.00 134,378.55 Oct-31-99 9.250% AZ - 90.00% Paid Off - 360 Nov-30-98
5521149 2 42,200.00 42,063.20 Oct-31-99 11.375% TN - 64.90% Paid Off - 360 Dec-11-98
7216939 2 111,000.00 110,877.40 Oct-31-99 13.250% MD - 65.00% Paid Off - 360 Mar-30-99
9390774 2 FCL 45,000.00 44,906.35 Oct-31-99 12.590% LA - 44.10% Paid Off - 360 Sep-30-98
9412816 2 255,968.00 254,628.70 Oct-31-99 9.990% VA - 79.90% Paid Off - 360 Oct-30-98
9413359 2 71,355.00 71,119.87 Oct-31-99 10.690% OR - 60.40% Paid Off - 360 Nov-30-98
9441727 2 55,900.00 55,859.19 Oct-31-99 12.770% NC - 60.80% Paid Off - 360 Jan-06-99
9442812 2 490,000.00 487,024.58 Oct-31-99 8.820% NM - 67.50% Paid Off - 360 Jan-06-99
9445455 2 118,300.00 117,662.89 Oct-31-99 8.100% OH - 70.00% Paid Off - 360 Jan-12-99
9450270 2 165,600.00 164,933.47 Oct-31-99 8.860% CA - 80.00% Paid Off - 360 Jan-28-99
9456864 2 101,250.00 100,963.17 Oct-31-99 9.790% OH - 75.00% Paid Off - 360 Feb-16-99
9475958 2 44,000.00 43,884.63 Oct-31-99 9.270% OH - 80.00% Paid Off - 360 Mar-29-99
9478566 2 115,500.00 115,212.02 Oct-31-99 9.510% FL - 75.00% Paid Off - 360 Apr-02-99
9479325 2 48,000.00 47,890.72 Oct-31-99 9.960% IN - 75.00% Paid Off - 360 Mar-30-99
9480994 2 47,500.00 47,329.14 Oct-31-99 8.960% TX - 42.40% Paid Off - 360 Apr-01-99
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 20 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Prepayment Detail Report For November 15, 1999 Distribution
- ------------------------------------------------------------------------------
PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------
Loan Number Original Current State & Type Prepayment
& Loan Principal Prepayment Prepayment Note LTV at & Origination
Loan Group Status Balance Amount Date Rate Origination Original Term Date
- -------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
9493662 2 FCL 69,500.00 69,500.00 Oct-31-99 13.140% CO - 64.90% Paid Off - 360 May-13-99
9514694 2 68,250.00 68,167.02 Oct-31-99 8.500% CA - 70.00% Paid Off - 360 Jun-28-99
9517855 2 40,000.00 39,921.33 Oct-31-99 12.640% LA - 56.30% Paid Off - 180 Jun-28-99
9519165 2 126,000.00 125,972.90 Oct-31-99 13.270% OH - 67.50% Paid Off - 360 Jun-15-99
9546278 2 67,500.00 67,437.53 Oct-31-99 9.820% CO - 57.00% Paid Off - 360 Jul-07-99
9551115 2 104,250.00 104,178.19 Oct-31-99 11.180% CO - 75.00% Paid Off - 360 Jun-28-99
9552782 2 55,600.00 55,545.89 Oct-31-99 9.570% IN - 80.00% Paid Off - 360 Jun-17-99
9560610 2 94,250.00 94,223.67 Oct-31-99 15.170% WI - 65.00% Paid Off - 360 Jun-25-99
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 21 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Realized Loss Report For November 15, 1999 Distribution
- ------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES ADJUSTABLE FIXED TOTAL
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <S>
CURRENT
Number of Loans Liquidated - - -
Collateral Realized Loss/(Gain) Amount - - -
Net Liquidation Proceeds - - -
CUMULATIVE
Number of Loans Liquidated - - -
Collateral Realized Loss/(Gain) Amount - - -
Net Liquidation Proceeds - - -
Note: Collateral realized losses may include adjustments
to loans liquidated in prior periods.
Loss Percentage 0.0000% 0.0000%
Annualized Loss Percentage 0.0000% 0.0000%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Fixed 3 Months Moving Average
Adjustable
<TABLE>
<CAPTION>
COLLATERAL LOSS SEVERITY APPROXIMATION BY GROUPS COLLATERAL LOSS SEVERITY APPROXIMATION
<S> <C>
[GRAPH] [GRAPH]
</TABLE>
Page 22 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Realized Loss Report For November 15, 1999 Distribution
- ------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DEFAULT SPEEDS ADJUSTABLE FIXED TOTAL
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
MDR 0.00% 0.00% 0.00%
3 Months Avg MDR 0.00% 0.00% 0.00%
12 Months Avg MDR
Avg MDR Since Cut-off 0.00% 0.00% 0.00%
CDR 0.00% 0.00% 0.00%
3 Months Avg CDR 0.00% 0.00% 0.00%
12 Months Avg CDR
Avg CDR Since Cut-off 0.00% 0.00% 0.00%
SDA 0.00% 0.00% 0.00%
3 Months Avg SDA Approximation 0.00% 0.00% 0.00%
12 Months Avg SDA Approximation
Avg SDA Since Cut-off Approximation 0.00% 0.00% 0.00%
Loss Severity Approximation for Current Period
3 Months Avg Loss Severity Approximation
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Fixed
Adjustable
<TABLE>
<CAPTION>
CDR BY GROUPS TOTAL CDR
<S> <C>
[GRAPH] [GRAPH]
</TABLE>
<TABLE>
<CAPTION>
SDA BY GROUPS TOTAL SDA
<S> <C>
[GRAPH] [GRAPH]
</TABLE>
Page 23 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Realized Loss Report For November 15, 1999 Distribution
- ------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- ------------------------------------------------------------------------------
Fixed
Adjustable
<TABLE>
<CAPTION>
CDR AVERAGE SINCE CUT-OFF BY GROUPS TOTAL CDR AVG SINCE CUT-OFF
<S> <C>
[GRAPH] [GRAPH]
</TABLE>
<TABLE>
<CAPTION>
SDA AVERAGE SINCE CUT-OFF BY GROUPS TOTAL SDA AVG SINCE CUT-OFF
<S> <C>
[GRAPH] [GRAPH]
</TABLE>
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
- --------------------------------------------------------------------------------
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/
(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)+12)
SDA Standard Default Assumption: CDR/IF(WAS 61,MIN(30,WAS)*0.02,MAX
(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m):
[(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)]+(1/months in period n,m) Average
CDR over period between the nth month and mth month (AvgCDRn,m):
1-((1-AvgMDRn,m)+12) Average SDA Approximation over period between the nth
month and mth month:
AvgCDRn,m/IF(Avg WASn,m 61,MIN(30,Avg
WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the
period n,m) Loss Severity Approximation for current period: sum(Realized
Loss Amount)/sum(Beg Principal Balance of Liquidated Loans) Average Loss
Severity Approximation over period between nth month and mth month:
Avg(Loss Severityn,m) Note: Default rates are calculated since deal issue
date and include realized gains and additional realized losses and gains
from prior periods.
Dates correspond to distribution dates.
- --------------------------------------------------------------------------------
Page 24 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Realized Loss Detail Report For November 15, 1999 Distribution
- -------------------------------------------------------------------------------
REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- ------------------------------------------------------------------ ----------------------------------------------
<S> <C>
Total Loan Count = 0 Loan Group 1 = Fixed Group
Total Original Principal Balance = 0.00 Loan Group 2 = Adjustable Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
- ------------------------------------------------------------------ ----------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------
Loan Number Original Prior Current State &
& Loan Principal Principal Realized Note LTV at Original Origination
Loan Group Status Balance Balance Loss/(Gain) Rate Origination Term Date
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 25 of 26 -C- COPYRIGHT 1999 Deutsche Bank
<PAGE>
[LOGO]
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
Triggers, Adj. Rate Cert. and Miscellaneous Report For
November 15, 1999 Distribution
- ------------------------------------------------------------------------------
TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TRIGGER EVENTS ADJUSTABLE FIXED TOTAL
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Step Down Cumulative Loss Test No No No
Step Down Rolling Delinquency Test Yes Yes Yes
Step Down Rolling Loss Test Yes Yes Yes
Step Down Tigger No No No
Step Up Cumulative Loss Test No No No
Step Up Rolling Delinquency Test No No No
Step Up Rolling Loss Test No No No
Step Up Tigger No No No
Step Up Spread Squeeze Test No No No
Spread Squeeze Condition No No No
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ADJUSTABLE RATE CERTIFICATE INFORMATION ADJUSTABLE FIXED TOTAL
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL INFORMATION ADJUSTABLE FIXED TOTAL
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Supplamental Interest Amounts 0.00 0.00 0.00
Supplamental Interest Amounts Unpaid 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 26 of 26 -C- COPYRIGHT 1999 Deutsche Bank
