<PAGE>
===============================================================================
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, 2000
AAMES CAPITAL CORPORATION
----------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
333-46893-01
CALIFORNIA 333-64903-01 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>
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
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1991-2 - 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/ Ralph W. Flick
-------------------------------
Ralph W. Flick
Assistant Secretary
Dated: May 22, 2000
-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
20.2 Aames Capital Corporation, Mortgage Pass-Through
Certificates, Series 1991-2 - Statement to Certificateholders
</TABLE>
-4-
<PAGE>
EXHIBIT 20.1
-5-
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
MAY 15, 2000 DISTRIBUTION
- -------------------------------------------------------------------------------
CONTENTS
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TABLE OF CONTENTS
------------------------------------------------------------------------
Page
---------
<S> <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
------------------------------------------------------------------
<TABLE>
<CAPTION>
ISSUANCE INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
<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: May 15, 2000
Banc Of America Securities LLC Co-Lead Underwriter Record Date: May 15, 2000
Greenwich Capital Markets, Inc. Co-Lead Underwriter April 28, 2000
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC I SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - CURRENT PERIOD
- ---------------------------------------------------------------------------------------------------------------------------
Prior
Class Original Principal Total
Class Type Face Value Balance Interest Principal Distribution
- ---------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LT-AF 19,123.50 17,297.22 104.39 274.33 378.72
LT-MF 196,688,617.88 181,150,346.21 1,361,196.64 2,432,558.12 3,793,754.76
LT-AV 20,203.50 17,341.44 87.62 469.45 557.07
LT-MV 203,337,098.17 180,079,400.91 1,430,372.04 4,144,278.02 5,574,650.06
P 100.00 100.00 117,727.37 - 117,727.37
- ---------------------------------------------------------------------------------------------------------------------------
R-I - - - - -
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
Total 400,065,143.05 361,264,485.78 2,909,488.06 6,577,579.92 9,487,067.98
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
- -------------------------------------------------------------------
(5) (6) (7)=(1)-(3)-(5)+(6)
- -------------------------------------------------------------------
<S> <C> <C> <C>
LT-AF 0.01 - 17,022.88
LT-MF 119,643.58 31.05 178,598,175.56
LT-AV (0.01) - 16,872.00
LT-MV 103,293.36 54.98 175,831,884.51
P - - 100.00
- -------------------------------------------------------------------
R-I - - -
- -------------------------------------------------------------------
- -------------------------------------------------------------------
- -------------------------------------------------------------------
Total 222,936.94 86.03 354,464,054.95
- -------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST ACCRUAL DETAIL CURRENT PERIOD FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ----------------------------------------------------------------------------------------------------------------------------
Orig. Principal Prior
Period Period (with Notional) Principal
Class Starting Ending Method Cusip Balance Balance Interest
- ----------------------------------------------------------------------------------------------------------------------------
(1) (2)
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
LT-AF F-30/360 19,123.50 904.500745 5.458729
LT-MF F-30/360 196,688,617.88 921.000657 6.920566
LT-AV 04/17/00 05/14/00 A-Act/360 20,203.50 858.338407 4.337060
LT-MV F-30/360 203,337,098.17 885.620000 7.034486
P - 100.00 1,000.000000 1,177,273.700000
- ----------------------------------------------------------------------------------------------------------------------------
R-I - - - -
- ----------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------
Current
Total Principal
Class Principal Distribution Balance
- ------------------------------------------------------------------
(3) (4)=(2)+(3) (5)
- ------------------------------------------------------------------
<S> <C> <C> <C>
LT-AF 14.345177 19.803906 890.155045
LT-MF 12.367559 19.288126 908.024966
LT-AV 23.236073 27.573133 835.102829
LT-MV 20.381318 27.415804 864.730962
P - 1,177,273.700000 1,000.000000
- ------------------------------------------------------------------
R-I - - -
- ------------------------------------------------------------------
- ------------------------------------------------------------------
- ------------------------------------------------------------------
</TABLE>
Page 2 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC I SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - TO DATE
- ---------------------------------------------------------------------------------------------------------------------------
Original Unscheduled Scheduled Total Total
Class Face Value Interest Principal Principal Principal Distribution
- ---------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LT-AF 19,123.50 1,110.48 1,871.11 229.53 2,100.64 3,211.12
LT-MF 196,688,617.88 14,426,341.20 15,646,895.14 2,056,527.57 17,703,422.71 32,129,763.91
LT-AV 20,203.50 911.14 3,207.55 123.96 3,331.51 4,242.65
LT-MV 203,337,098.17 15,171,434.98 26,183,742.86 1,072,613.50 27,256,356.36 42,427,791.34
P 100.00 726,416.46 - - - 726,416.46
R-I - 0.02 - - - 0.02
- ---------------------------------------------------------------------------------------------------------------------------
Total 400,065,143.05 30,326,214.28 41,835,716.66 3,129,494.56 44,965,211.22 75,291,425.50
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
- ------------------------------------------------------------------
(7) (8) (9)=(1)-(5)-(7)+(8)
- ------------------------------------------------------------------
<S> <C> <C> <C>
LT-AF (0.02) - 17,022.88
LT-MF 387,349.72 330.11 178,598,175.56
LT-AV (0.01) - 16,872.00
LT-MV 249,462.88 605.60 175,831,884.51
P - - 100.00
R-I - - -
- ------------------------------------------------------------------
Total 636,812.57 935.71 354,464,054.95
- ------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST DETAIL
- ---------------------------------------------------------------------------------------------------------------------------
Pass- Prior Principal Non- Prior Unscheduled
Through (with Notional) Accrued Supported Unpaid Interest
Class Rate Balance Interest Interest SF Interest Adjustments
- ---------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LT-AF 7.29000% 17,297.22 104.39 - - -
LT-MF 9.07648% 181,150,346.21 1,361,196.64 - - -
LT-AV 6.53000% 17,341.44 87.62 - - -
LT-MV 9.58116% 180,079,400.91 1,430,372.04 - - -
P 100.00 - - - -
- ---------------------------------------------------------------------------------------------------------------------------
R-I - - - - -
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
Total 361,264,485.78 2,791,760.69 - - -
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- --------------------------------------------------------------------
Paid or Current
Optimal Deferred Unpaid
Class Interest Interest Interest
- --------------------------------------------------------------------
(5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
- --------------------------------------------------------------------
<S> <C> <C> <C>
LT-AF 104.39 104.39 -
LT-MF 1,361,196.64 1,361,227.69 -
LT-AV 87.62 87.62 -
LT-MV 1,430,372.04 1,430,427.02 -
P 117,727.37 117,727.37 -
- --------------------------------------------------------------------
R-I - - -
- --------------------------------------------------------------------
- --------------------------------------------------------------------
- --------------------------------------------------------------------
Total 2,909,488.06 2,909,574.09 -
- --------------------------------------------------------------------
</TABLE>
Page 3 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC II SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - CURRENT PERIOD
- ---------------------------------------------------------------------------------------------------------------------------
Prior
Class Original Principal Total
Class Type Face Value Balance Interest Principal Distribution
- ---------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-F STEP 191,235,000.00 172,972,218.30 1,050,806.23 2,743,327.25 3,794,133.48
A-V STEP 202,035,000.00 173,414,410.65 880,752.52 4,694,454.61 5,575,207.13
C 6,795,043.05 14,908,385.06 - - -
R-II - - - - -
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
Total 400,065,043.05 361,295,014.01 1,931,558.75 7,437,781.86 9,369,340.61
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
- -------------------------------------------------------------------
(5) (6) (7)=(1)-(3)-(5)+(6)
- -------------------------------------------------------------------
<S> <C> <C> <C>
A-F - - 170,228,891.05
A-V - - 168,719,956.04
C - 637,265.17 15,545,650.23
R-II - - -
- -------------------------------------------------------------------
- -------------------------------------------------------------------
- -------------------------------------------------------------------
- -------------------------------------------------------------------
Total - 637,265.17 354,494,497.32
- -------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST ACCRUAL DETAIL CURRENT PERIOD FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ----------------------------------------------------------------------------------------------------------------------------
Orig. Principal Prior
Period Period (with Notional) Principal
Class Starting Ending Method Cusip Balance Balance Interest
- ----------------------------------------------------------------------------------------------------------------------------
(1) (2)
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-F F-30/360 00253CFM4 191,235,000.00 904.500841 5.494843
A-V 04/17/00 05/14/00 A-Act/360 00253CFN2 202,035,000.00 858.338459 4.359406
C - 6,795,043.05 2,194.008919 -
R-II - - - -
- ----------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------
Current
Total Principal
Class Principal Distribution Balance
- -------------------------------------------------------------------
(3) (4)=(2)+(3) (5)
- -------------------------------------------------------------------
<S> <C> <C> <C>
A-F 14.345320 19.840163 890.155521
A-V 23.235848 27.595254 835.102611
C - - 2,287.792751
R-II - - -
- -------------------------------------------------------------------
- -------------------------------------------------------------------
- -------------------------------------------------------------------
- -------------------------------------------------------------------
</TABLE>
NOTE: ADJUSTABLE RATE CERTIFICATES HAVE A RECORD DATE THAT IS ONE BUSINESS
DAY PRIOR TO DISTRIBUTION
Page 4 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC II SERIES 1999-1
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - TO DATE
- ----------------------------------------------------------------------------------------------------------------------------
Original Unscheduled Scheduled Total Total
Class Face Value Interest Principal Principal Principal Distribution
- ----------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5)
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-F 191,235,000.00 11,126,866.08 18,711,071.13 2,295,037.82 21,006,108.95 32,132,975.03
A-V 202,035,000.00 9,116,990.07 32,075,509.21 1,239,534.75 33,315,043.96 42,432,034.03
C 6,795,043.05 - - - - -
R-II - - - - - -
- ----------------------------------------------------------------------------------------------------------------------------
Total 400,065,043.05 20,243,856.15 50,786,580.34 3,534,572.57 54,321,152.91 74,565,009.06
- ----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
- ----------------------------------------------------------------
(7) (8) (9)=(1)-(5)-(7)+(8)
- ----------------------------------------------------------------
<S> <C> <C> <C>
A-F - - 170,228,891.05
A-V - - 168,719,956.04
C - 8,750,607.17 15,545,650.23
R-II - - -
- ----------------------------------------------------------------
Total - 8,750,607.17 354,494,497.32
- ----------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST DETAIL
- ------------------------------------------------------------------------------------------------------------------------
Pass- Prior Principal Non- Prior Unscheduled
Through (with Notional) Accrued Supported Unpaid Interest
Class Rate Balance Interest Interest SF Interest Adjustments
- ------------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-F 7.29000% 172,972,218.30 1,050,806.23 - - -
A-V 6.53000% 173,414,410.65 880,752.52 - - -
C 14,908,385.06 - - - -
R-II - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Total 361,295,014.01 1,931,558.75 - -
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------
Paid or Current
Optimal Deferred Unpaid
Class Interest Interest Interest
- -----------------------------------------------------------------------
(5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
- -----------------------------------------------------------------------
<S> <C> <C> <C>
A-F 1,050,806.23 1,050,806.23 -
A-V 880,752.52 880,752.52 -
C - 637,265.17 -
R-II - - -
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
Total - 1,931,558.75 2,568,823.92 -
- -----------------------------------------------------------------------
</TABLE>
Page 5 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR MAY 15, 2000 DISTRIBUTION
- -------------------------------------------------------------------------------
COLLECTION ACCOUNT REPORT
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Principal Collections 4,144,692.49 2,432,801.40 6,577,493.89
Principal Withdrawals 0.00 0.00 0.00
Principal Other Accounts 0.00 0.00 0.00
TOTAL NET PRINCIPAL 4,144,692.49 2,432,801.40 6,577,493.89
Interest Collections 1,609,848.27 1,509,456.89 3,119,305.16
Interest Withdrawals (7,431.32) (8,971.51) (16,402.83)
Interest Other Accounts 0.00 0.00 0.00
Interest Fees (95,165.81) (98,162.43) (193,328.24)
TOTAL NET INTEREST 1,507,251.14 1,402,322.95 2,909,574.09
TOTAL AVAILABLE FUNDS TO BONDHOLDERS 5,651,943.63 3,835,124.35 9,487,067.98
TOTAL REMITANCE DUE FROM SERVICER 5,688,933.41 3,872,051.69 9,560,985.10
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
PRINCIPAL - COLLECTIONS ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Scheduled Principal 84,810.39 257,595.55 342,405.94
Curtailments 0.00 0.00 0.00
Prepayments in Full 3,919,577.04 2,093,747.79 6,013,324.83
Repurchases/Substitutions 0.00 0.00 0.00
Liquidations 243,598.41 201,101.65 444,700.06
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 (103,293.35) (119,643.59) (222,936.94)
Mortgage Replacement Amount 0.00 0.00 0.00
TOTAL PRINCIPAL COLLECTED 4,144,692.49 2,432,801.40 6,577,493.89
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR MAY 15, 2000 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
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
INTEREST - COLLECTIONS ADJUSTABLE FIXED TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Scheduled Interest 1,547,812.90 1,480,313.07 3,028,125.97
Repurchases/Substitutions 0.00 0.00 0.00
Liquidations 2,163.15 2,404.37 4,567.52
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 (376,635.00) (307,358.02) (683,993.02)
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 359,770.72 293,106.60 652,877.32
Closing Date Deposits 0.00 0.00 0.00
Insurer Interest to Cover PPIS 0.00 0.00 0.00
Prepayment Penalties 76,736.50 40,990.87 117,727.37
TOTAL INTEREST COLLECTED 1,609,848.27 1,509,456.89 3,119,305.16
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 7 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR MAY 15, 2000 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 7,431.32 8,971.51 16,402.83
TOTAL INTEREST WITHDRAWLS 7,431.32 8,971.51 16,402.83
- ----------------------------------------------------------------------------------------------------------------------------------
<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
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
INTEREST - FEES ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Current Servicing Fees 58,176.03 61,235.09 119,411.12
Back Up Servicing Fees 3,752.02 3,774.33 7,526.35
Certificate Insurance Premiums 33,237.76 33,153.01 66,390.77
Trustee Fees 0.00 0.00 0.00
TOTAL INTEREST OTHER FEES 95,165.81 98,162.43 193,328.24
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 8 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
CREDIT ENHANCEMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
- -------------------------------------------------------------------------------
CREDIT ENHANCEMENT REPORT
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
ACCOUNTS ADJUSTABLE FIXED TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
INSURANCE ADJUSTABLE FIXED TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Insurance Premium Due 33,237.76 33,153.01 66,390.77
Insurance Premium Paid 33,237.76 33,153.01 66,390.77
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
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
STRUCTURAL FEATURES ADJUSTABLE FIXED TOTAL
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Extra Principal Distribution Amt 549,762.12 310,525.85 860,287.97
Overcollateralization Amount 7,128,800.47 8,386,307.39 15,515,107.86
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 4,910,649.19 2,743,144.24 7,653,793.43
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 9 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLATERAL REPORT FOR MAY 15, 2000 DISTRIBUTION
- -------------------------------------------------------------------------------
COLLATERAL REPORT
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COLLATERAL ADJUSTABLE FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Loan Count:
ORIGINAL 1786 3011 4797
Prior 1,989 2,742 4,731
Prefunding - - -
Scheduled Paid Offs - - -
Full Voluntary Prepayments (35) (38) (73)
Repurchases - - -
Liquidations (4) (8) (12)
---------------------------------------------------------------------------------------------------------------------------
Current 1,950 2,696 4,646
PRINCIPAL BALANCE:
Original 163,359,100.25 196,707,741.38 360,066,841.63
Prior 180,096,742.35 181,167,643.43 361,264,385.78
Prefunding - - -
Scheduled Principal (84,810.39) (257,595.55) (342,405.94)
Partial and Full Voluntary Prepayments (3,919,577.04) (2,093,747.79) (6,013,324.83)
Repurchases - - -
---------------------------------------------------------------------------------------------------------------------------
Liquidations (243,598.41) (201,101.65) (444,700.06)
Current 175,848,756.51 178,615,198.44 354,463,954.95
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
PREFUNDING 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>
<TABLE>
<S><C>
CURRENT PRIN BALANCE BY GROUPS (IN MILLIONS OF DOLLARS) TOTAL CURRENT PRINCIPAL BALANCE (IN MILLIONS OF DOLLARS)
[GRAPH] [GRAPH]
</TABLE>
Page 10 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLATERAL REPORT FOR MAY 15, 2000 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 10.332175% 9.848566% 10.090737%
Weighted Average Coupon Current 10.327623% 9.821075% 10.073598%
------------------------------------------------------------------------------------------------------------------------------
Weighted Average Months to Maturity Original 354 316 333
Weighted Average Months to Maturity Prior 347 307 327
Weighted Average Months to Maturity Current 346 305 325
------------------------------------------------------------------------------------------------------------------------------
Weighted Avg Remaining Amortization Term Original 355 316 334
Weighted Avg Remaining Amortization Term Prior 348 308 328
Weighted Avg Remaining Amortization Term Current 347 307 327
------------------------------------------------------------------------------------------------------------------------------
Weighted Average Seasoning Original 3.10 3.06 3.08
Weighted Average Seasoning Prior 10.28 11.00 10.64
Weighted Average Seasoning Current 11.26 12.00 11.63
- ---------------------------------------------------------------------------------------------------------------------------------
NOTE: ORIGINAL INFORMATION REFERS TO DEAL ISSUE.
</TABLE>
WAC BY GROUPS TOTAL WAC
[GRAPH] [GRAPH]
WARAT BY GROUPS TOTAL WARAT
[GRAPH] [GRAPH]
NOTE: DATES CORRESPOND TO DISTRIBUTION DATES.
Page 11 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
COLLATERAL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
COLLATERAL REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
ARM CHARACTERISTICS ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Weighted Average Margin Original 5.948%
Weighted Average Margin Prior 5.917%
Weighted Average Margin Current 5.912%
-------------------------------------------------------------------------------------------------------------------------------
Weighted Average Max Rate Original 16.953%
Weighted Average Max Rate Prior 16.815%
Weighted Average Max Rate Current 16.802%
-------------------------------------------------------------------------------------------------------------------------------
Weighted Average Min Rate Original 10.160%
Weighted Average Min Rate Prior 10.164%
Weighted Average Min Rate Current 10.153%
-------------------------------------------------------------------------------------------------------------------------------
Weighted Average Cap Up Original 2.735%
Weighted Average Cap Up Prior 2.596%
Weighted Average Cap Up Current 2.596%
-------------------------------------------------------------------------------------------------------------------------------
Weighted Average Cap Down Original 2.735%
Weighted Average Cap Down Prior 2.596%
Weighted Average Cap Down Current 2.596%
- ----------------------------------------------------------------------------------------------------------------------------------
NOTE: ORIGINAL INFORMATION REFERS TO DEAL ISSUE.
<CAPTION>
SERVICING FEES / ADVANCES ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Current Servicing Fees 58,176.03 61,235.09 119,411.12
Delinquent Servicing Fees 16,864.28 14,251.42 31,115.70
TOTAL SERVICING FEES 75,040.31 75,486.51 150,526.82
Total Servicing Fees 75,040.31 75,486.51 150,526.82
Compensating Interest 0.00 0.00 0.00
Delinquent Servicing Fees (16,864.28) (14,251.42) (31,115.70)
COLLECTED SERVICING FEES 58,176.03 61,235.09 119,411.12
Prepayment Interest Shortfall 0.00 0.00 0.00
Total Advanced Interest 359,770.72 293,106.60 652,877.32
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 12 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
DELINQUENCY REPORT - TOTAL
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 8,460,096.13 970,435.01 869,774.48 10,300,305.62
%Balance 2.39% 0.27% 0.25% 2.91%
# Loans 120 14 14 148
%# Loans 2.58% 0.30% 0.30% 3.19%
- ------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 921,027.31 763,136.08 2,391,861.73 19,695,805.10 23,771,830.22
%Balance 0.26% 0.22% 0.67% 5.56% 6.71%
# Loans 11 9 32 296 348
%# Loans 0.24% 0.19% 0.69% 6.37% 7.49%
- ------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 412,867.01 65,678.55 57,340.75 369,088.93 904,975.24
%Balance 0.12% 0.02% 0.02% 0.10% 0.26%
# Loans 8 1 2 7 18
%# Loans 0.17% 0.02% 0.04% 0.15% 0.39%
- ------------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 2,635,999.73 2,635,999.73
%Balance 0.00% 0.00% 0.00% 0.74% 0.74%
# Loans - - - 32 32
%# Loans 0.00% 0.00% 0.00% 0.69% 0.69%
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 1,333,894.32 9,288,910.76 3,419,637.49 23,570,668.24 37,613,110.81
%Balance 0.38% 2.62% 0.96% 6.65% 10.61%
# Loans 19 130 48 349 546
%# Loans 0.41% 2.80% 1.03% 7.51% 11.75%
- ------------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
</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>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
DELINQUENCY REPORT - FIXED GROUP
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 3,061,992.85 161,864.50 160,938.06 3,384,795.41
%Balance 1.71% 0.09% 0.09% 1.90%
# Loans 57 5 6 68
%# Loans 2.11% 0.19% 0.22% 2.52%
- ------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 213,494.17 117,657.57 1,248,786.45 7,483,316.35 9,063,254.54
%Balance 0.12% 0.07% 0.70% 4.19% 5.07%
# Loans 4 1 16 137 158
%# Loans 0.15% 0.04% 0.59% 5.08% 5.86%
- ------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 139,357.62 - - 241,229.62 380,587.24
%Balance 0.08% 0.00% 0.00% 0.14% 0.21%
# Loans 4 - - 5 9
%# Loans 0.15% 0.00% 0.00% 0.19% 0.33%
- ------------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 1,018,068.09 1,018,068.09
%Balance 0.00% 0.00% 0.00% 0.57% 0.57%
# Loans - - - 16 16
%# Loans 0.00% 0.00% 0.00% 0.59% 0.59%
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 352,851.79 3,179,650.42 1,410,650.95 8,903,552.12 13,846,705.28
%Balance 0.20% 1.78% 0.79% 4.98% 7.75%
# Loans 8 58 21 164 251
%# Loans 0.30% 2.15% 0.78% 6.08% 9.31%
- ------------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
</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>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
DELINQUENCY REPORT - ADJUSTABLE GROUP
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 5,398,103.28 808,570.51 708,836.42 6,915,510.21
%Balance 3.07% 0.46% 0.40% 3.93%
# Loans 63 9 8 80
%# Loans 3.23% 0.46% 0.41% 4.10%
- ----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 707,533.14 645,478.51 1,143,075.28 12,212,488.75 14,708,575.68
%Balance 0.40% 0.37% 0.65% 6.94% 8.36%
# Loans 7 8 16 159 190
%# Loans 0.36% 0.41% 0.82% 8.15% 9.74%
- ----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 273,509.39 65,678.55 57,340.75 127,859.31 524,388.00
%Balance 0.16% 0.04% 0.03% 0.07% 0.30%
# Loans 4 1 2 2 9
%# Loans 0.21% 0.05% 0.10% 0.10% 0.46%
- ----------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 1,617,931.64 1,617,931.64
%Balance 0.00% 0.00% 0.00% 0.92% 0.92%
# Loans - - - 16 16
%# Loans 0.00% 0.00% 0.00% 0.82% 0.82%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 981,042.53 6,109,260.34 2,008,986.54 14,667,116.12 23,766,405.53
%Balance 0.56% 3.47% 1.14% 8.34% 13.52%
# Loans 11 72 27 185 295
%# Loans 0.56% 3.69% 1.38% 9.49% 15.13%
- ----------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
</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>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REO REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
Total Loan Count = 14 Loan Group 1 = Fixed Group; REO Book Value = 1,058,228.27
Total Original Principal Balance = 1,004,156.00 Loan Group 2 = Adjustable Group; REO Book Value = 1,315,621.05
Total Current Balance = 1,002,030.20
REO Book Value = 2,373,849.32
- ----------------------------------------------------------------------------------------------------------------------------------
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
<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>
7248199 1 52,500.00 52,403.62 Sep-15-99 10.950% GA - 75.00% 360 Mar-30-99
7263538 1 29,000.00 28,777.76 Aug-15-99 12.200% MD - 74.80% 180 Apr-28-99
9421483 1 53,600.00 53,481.58 May-01-99 10.120% FL - 80.00% 360 Nov-19-98
9470417 1 39,650.00 39,643.74 May-01-99 14.620% IN - 65.00% 360 Mar-12-99
9475001 1 84,000.00 83,763.17 Sep-01-99 8.940% CA - 70.00% 360 Mar-30-99
9499814 1 90,000.00 89,907.68 Aug-01-99 9.320% FL - 69.90% 360 May-10-99
9506608 1 39,000.00 38,792.03 Aug-01-99 11.660% LA - 75.00% 180 May-25-99
9456805 2 55,900.00 55,878.52 May-01-99 13.790% OH - 65.00% 360 Feb-16-99
9485775 2 30,256.00 29,799.14 Oct-01-99 12.460% TX - 67.50% 360 May-10-99
9487778 2 212,500.00 211,981.16 Oct-01-99 9.610% GA - 85.00% 360 Apr-26-99
9503625 2 152,000.00 151,851.80 Jul-01-99 9.650% FL - 80.00% 360 May-17-99
9506292 2 71,500.00 71,500.00 Jun-01-99 13.140% WA - 65.00% 360 May-26-99
9511601 2 52,000.00 52,000.00 Jul-01-99 10.620% FL - 80.00% 360 Jun-08-99
9529047 2 42,250.00 42,250.00 Aug-01-99 13.640% MA - 65.00% 360 Jul-08-99
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 16 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS ADJUSTABLE FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CURRENT
Number of Paid in Full Loans 35 38 73
Number of Repurchased Loans - - -
- ------------------------------------------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full 35 38 73
Paid in Full Balance 3,919,577.04 2,093,747.79 6,013,324.83
Repurchased Loans Balance - - -
Curtailments Amount - - -
- ------------------------------------------------------------------------------------------------------------------------
Total Prepayment Amount 3,919,577.04 2,093,747.79 6,013,324.83
CUMULATIVE
Number of Paid in Full Loans 270 294 564
Number of Repurchased Loans - - -
- ------------------------------------------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full 270 294 564
Paid in Full Balance 25,830,010.65 15,482,895.93 41,312,906.58
Repurchased Loans Balance - - -
Curtailments Amount (83,220.79) (158,587.56) (241,808.35)
- ------------------------------------------------------------------------------------------------------------------------
Total Prepayment Amount 25,746,789.86 15,324,308.37 41,071,098.23
SPACE INTENTIONALLY LEFT BLANK
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
TOTAL PREPAYMENTS BY GROUPS (IN THOUSANDS OF DOLLARS) TOTAL PREPAYMENTS (IN THOUSANDS OF DOLLARS)
[GRAPH] [GRAPH]
</TABLE>
Page 17 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES ADJUSTABLE FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SMM 2.18% 1.16% 1.67%
3 Months Avg SMM 1.84% 1.05% 1.44%
12 Months Avg SMM
Avg SMM Since Cut-off 1.35% 0.82% 1.09%
CPR 23.22% 13.04% 18.26%
3 Months Avg CPR 19.96% 11.89% 16.01%
12 Months Avg CPR
Avg CPR Since Cut-off 15.10% 9.42% 12.32%
PSA 1030.50% 543.34% 784.75%
3 Months Avg PSA Approximation 970.36% 540.37% 752.23%
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation 1091.15% 626.18% 853.30%
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
CPR BY GROUPS TOTAL CPR
[GRAPH] [GRAPH]
PSA BY GROUPS TOTAL PSA
[GRAPH] [GRAPH]
Page 18 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR MAY 15, 2000 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>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT DETAIL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- ---------------------------------------------------- ------------------------------------------
<S> <C>
Total Loan Count = 73 Loan Group 1 = Fixed Group
Total Original Principal Balance = 6,100,313.00 Loan Group 2 = Adjustable Group
Total Prepayment Amount = 6,013,324.83
- ---------------------------------------------------- ------------------------------------------
<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>
4034643 1 36,000.00 34,833.16 Apr-30-00 10.200% UT - 75.00% Paid Off - 180 Jan-27-99
6455808 1 63,000.00 62,452.28 Apr-30-00 11.100% TX - 58.30% Paid Off - 360 Oct-23-98
6607624 1 72,500.00 70,247.80 Apr-30-00 11.750% OK - 61.90% Paid Off - 180 Jan-29-99
7224435 1 24,000.00 22,821.93 Apr-30-00 9.750% MI - 69.00% Paid Off - 180 Mar-22-99
7227744 1 52,500.00 52,023.71 Apr-30-00 10.000% OK - 75.00% Paid Off - 360 Mar-30-99
7232276 1 40,000.00 39,854.80 Apr-30-00 12.000% MI - 63.00% Paid Off - 360 Feb-26-99
7242867 1 99,200.00 98,641.48 Apr-30-00 9.500% MA - 80.00% Paid Off - 360 Mar-30-99
7244800 1 55,800.00 54,108.32 Apr-30-00 10.000% OH - 86.00% Paid Off - 180 Mar-19-99
7246889 1 76,500.00 76,144.86 Apr-30-00 9.950% NC - 90.00% Paid Off - 360 Mar-29-99
7249454 1 45,000.00 43,737.65 Apr-30-00 8.700% NY - 70.00% Paid Off - 180 Mar-31-99
7253664 1 15,000.00 12,915.19 Apr-30-00 11.750% AZ - 25.00% Paid Off - 60 Mar-29-99
7254563 1 53,500.00 53,070.98 Apr-30-00 7.750% CA - 25.00% Paid Off - 360 Mar-29-99
7257473 1 28,000.00 27,872.07 Apr-30-00 10.500% IL - 67.00% Paid Off - 360 Mar-31-99
7270143 1 58,500.00 57,001.86 Apr-30-00 9.750% CA - 90.00% Paid Off - 180 Apr-19-99
7271581 1 36,800.00 129.90 Apr-30-00 14.350% WA - 70.00% Paid Off - 180 May-17-99
7275226 1 200,000.00 198,926.46 Apr-30-00 9.250% AZ - 75.00% Paid Off - 360 Apr-22-99
7275595 1 70,400.00 70,094.64 Apr-30-00 9.750% MI - 80.00% Paid Off - 360 Apr-21-99
7275692 1 66,000.00 64,205.15 Apr-30-00 7.950% MD - 49.00% Paid Off - 180 Apr-30-99
7275927 1 89,250.00 88,950.41 Apr-30-00 11.050% CA - 85.00% Paid Off - 360 May-24-99
7276982 1 41,000.00 40,089.21 Apr-30-00 11.350% OH - 49.00% Paid Off - 180 Apr-28-99
7277261 1 45,000.00 44,812.01 Apr-30-00 10.450% KY - 90.00% Paid Off - 360 Apr-29-99
7279671 1 30,000.00 29,158.40 Apr-30-00 8.700% PA - 10.00% Paid Off - 180 Apr-30-99
7281382 1 40,000.00 37,746.04 Apr-30-00 8.000% IL - 47.00% Paid Off - 180 Apr-27-99
7282567 1 55,000.00 52,946.42 Apr-30-00 12.000% TX - 62.00% Paid Off - 180 May-12-99
7287526 1 39,500.00 38,574.12 Apr-30-00 10.750% MI - 73.00% Paid Off - 180 May-10-99
7610165 1 FCL 20,500.00 20,308.56 Apr-30-00 10.500% MA - 69.00% Paid Off - 180 Jun-14-99
7613032 1 46,000.00 45,183.67 Apr-30-00 12.600% MA - 49.80% Paid Off - 180 Jun-07-99
7614322 1 26,000.00 25,624.61 Apr-30-00 12.000% FL - 57.00% Paid Off - 180 Jun-22-99
7615094 1 55,500.00 55,352.85 Apr-30-00 11.500% RI - 74.00% Paid Off - 360 May-28-99
7626517 1 33,000.00 32,842.61 Apr-30-00 8.700% OH - 48.00% Paid Off - 360 Jun-21-99
9260218 1 48,750.00 48,309.51 Apr-30-00 11.470% KY - 75.00% Paid Off - 360 Dec-23-97
9419330 1 130,500.00 129,531.36 Apr-30-00 9.990% CA - 90.00% Paid Off - 360 Nov-24-98
9457100 1 24,700.00 22,881.69 Apr-30-00 14.170% WI - 65.00% Paid Off - 180 Feb-16-99
9467726 1 115,500.00 115,056.79 Apr-30-00 10.850% CA - 70.00% Paid Off - 360 Mar-26-99
9478035 1 73,015.00 72,591.83 Apr-30-00 9.360% LA - 85.00% Paid Off - 360 Mar-31-99
9496327 1 27,300.00 26,869.62 Apr-30-00 11.060% PA - 70.00% Paid Off - 180 May-07-99
9526013 1 35,000.00 34,865.27 Apr-30-00 10.320% FL - 70.00% Paid Off - 360 May-27-99
9555331 1 93,500.00 92,970.57 Apr-30-00 11.510% TN - 85.00% Paid Off - 360 Jun-22-99
1473026 2 63,743.00 63,491.80 Apr-30-00 10.390% NJ - 75.80% Paid Off - 360 Jun-30-99
1473980 2 141,275.00 140,720.81 Apr-30-00 8.990% CA - 83.10% Paid Off - 360 Jul-16-99
1475029 2 97,500.00 97,202.78 Apr-30-00 9.440% NJ - 75.00% Paid Off - 360 Jul-16-99
7250274 2 104,800.00 103,815.41 Apr-30-00 7.500% OH - 78.00% Paid Off - 360 Mar-30-99
9391223 2 63,450.00 62,934.10 Apr-30-00 10.980% TX - 73.70% Paid Off - 360 Sep-30-98
9407324 2 112,500.00 111,595.04 Apr-30-00 9.350% FL - 75.00% Paid Off - 360 Oct-28-98
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 20 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT DETAIL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
Loan Number Original Current State &
& Loan Principal Prepayment Prepayment Note LTV at Original Origination
Loan Group Status Balance Amount Date Rate Origination Term Date
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
9417826 2 36,050.00 35,854.15 Apr-30-00 11.230% GA - 64.90% Paid Off - 360 Nov-09-98
9418415 2 260,250.00 258,720.40 Apr-30-00 10.860% MN - 75.00% Paid Off - 360 Nov-09-98
9423044 2 96,000.00 95,273.73 Apr-30-00 9.650% CT - 80.00% Paid Off - 360 Nov-19-98
9424172 2 36,750.00 36,561.59 Apr-30-00 11.550% MD - 75.00% Paid Off - 360 Nov-20-98
9435662 2 161,200.00 160,718.68 Apr-30-00 13.970% FL - 59.70% Paid Off - 360 Dec-23-98
9444505 2 322,000.00 319,432.14 Apr-30-00 8.650% KS - 71.50% Paid Off - 360 Jan-15-99
9446095 2 153,000.00 152,059.18 Apr-30-00 9.920% CA - 90.00% Paid Off - 360 Jan-15-99
9450564 2 148,750.00 147,691.66 Apr-30-00 9.320% NY - 85.00% Paid Off - 360 Jan-27-99
9450858 2 52,405.00 52,171.88 Apr-30-00 11.450% NY - 74.90% Paid Off - 360 Jan-28-99
9450947 2 46,200.00 45,690.02 Apr-30-00 13.570% TX - 70.00% Paid Off - 360 Feb-02-99
9452311 2 34,200.00 34,041.42 Apr-30-00 10.860% OR - 60.00% Paid Off - 360 Feb-25-99
9456198 2 239,920.00 238,933.05 Apr-30-00 11.420% CO - 77.00% Paid Off - 360 Feb-08-99
9460616 2 49,985.00 49,741.13 Apr-30-00 10.620% IN - 64.40% Paid Off - 360 Feb-26-99
9473149 2 48,750.00 48,558.59 Apr-30-00 11.210% FL - 73.00% Paid Off - 360 Mar-17-99
9475060 2 214,000.00 212,976.42 Apr-30-00 11.375% IN - 89.10% Paid Off - 360 Mar-26-99
9476059 2 32,500.00 32,423.21 Apr-30-00 13.920% MO - 65.00% Paid Off - 360 Mar-30-99
9479635 2 138,320.00 137,684.01 Apr-30-00 9.470% NV - 80.00% Paid Off - 360 Mar-31-99
9481400 2 53,000.00 52,748.76 Apr-30-00 9.460% NM - 72.60% Paid Off - 360 Apr-06-99
9488138 2 48,750.00 48,572.97 Apr-30-00 10.720% OH - 75.00% Paid Off - 360 Apr-26-99
9491783 2 FCL 65,000.00 64,888.53 Apr-30-00 10.220% CO - 65.00% Paid Off - 360 Apr-27-99
9507965 2 21,000.00 20,968.15 Apr-30-00 15.040% OH - 50.00% Paid Off - 360 May-24-99
9509690 2 FCL 91,900.00 91,732.77 Apr-30-00 10.990% FL - 79.90% Paid Off - 360 Jul-01-99
9510540 2 73,500.00 73,226.00 Apr-30-00 9.250% OH - 70.00% Paid Off - 360 May-28-99
9516174 2 296,000.00 295,138.03 Apr-30-00 11.620% GA - 79.10% Paid Off - 360 Jun-01-99
9528571 2 123,500.00 123,294.29 Apr-30-00 12.250% CT - 65.00% Paid Off - 360 Jun-16-99
9532366 2 49,700.00 49,510.30 Apr-30-00 9.780% NC - 70.00% Paid Off - 360 Jun-03-99
9540652 2 59,200.00 58,929.71 Apr-30-00 8.920% SC - 80.00% Paid Off - 360 Jun-30-99
9551891 2 FCL 306,000.00 305,556.56 Apr-30-00 10.990% CA - 64.20% Paid Off - 360 Jun-10-99
9556311 2 97,500.00 96,719.77 Apr-30-00 6.830% CA - 65.00% Paid Off - 360 Jun-28-99
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 21 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES ADJUSTABLE FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CURRENT
Number of Loans Liquidated 4 8 12
Collateral Realized Loss/(Gain) Amount 103,293.35 119,643.59 222,936.94
Net Liquidation Proceeds 140,305.06 81,458.06 221,763.12
CUMULATIVE
Number of Loans Liquidated 9 21 30
Collateral Realized Loss/(Gain) Amount 249,462.85 387,349.70 636,812.55
Net Liquidation Proceeds 364,424.83 183,814.16 548,238.99
Note: Collateral realized losses may include adjustments to loans
liquidated in prior periods.
Loss Percentage 0.1227% 0.1969%
Annualized Loss Percentage 0.0719% 0.1361%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
COLLATERAL LOSS SEVERITY APPROXIMATION BY GROUPS
[GRAPH]
COLLATERAL LOSS SEVERITY APPROXIMATION
[GRAPH]
Page 22 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DEFAULT SPEEDS ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
MDR 0.14% 0.11% 0.12%
3 Months Avg MDR 0.07% 0.07% 0.07%
12 Months Avg MDR
Avg MDR Since Cut-off 0.03% 0.03% 0.03%
CDR 1.61% 1.32% 1.47%
3 Months Avg CDR 0.85% 0.78% 0.82%
12 Months Avg CDR
Avg CDR Since Cut-off 0.40% 0.37% 0.38%
SDA 7.15% 5.52% 6.31%
3 Months Avg SDA Approximation 4.15% 3.54% 3.83%
12 Months Avg SDA Approximation
Avg SDA Since Cut-off Approximation 2.88% 2.45% 2.66%
Loss Severity Approximation for Current Period 42.40% 59.49% 50.13%
3 Months Avg Loss Severity Approximation 49.93% 79.51% 72.41%
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off 42.57% 77.63% 62.98%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
CDR BY GROUPS TOTAL CDR
[GRAPH] [GRAPH]
SDA BY GROUPS TOTAL SDA
[GRAPH] [GRAPH]
Page 23 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS REPORT FOR MAY 15, 2000 DISTRIBUTION
- -------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- -------------------------------------------------------------------------------
CDR AVG SINCE CUT-OFF BY GROUPS TOTAL CDR AVG SINCE CUT-OFF
[GRAPH] [GRAPH]
SDA AVG SINCE CUT-OFF BY GROUPS TOTAL SDA AVG SINCE CUT-OFF
[GRAPH] [GRAPH]
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
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS DETAIL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- ---------------------------------------------------------------------- ------------------------------------------------------
<S> <C>
Total Loan Count = 12 Loan Group 1 = Fixed Group
Total Original Principal Balance = 445,450.00 Loan Group 2 = Adjustable Group
Total Prior Principal Balance = 444,700.06
Total Realized Loss Amount = 222,936.94
Total Net Liquidation Proceeds = 221,763.12
- ---------------------------------------------------------------------- ------------------------------------------------------
<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>
7212828 1 16,800.00 16,590.21 16,590.21 11.850% PA - 70.00% 180 Mar-10-99
9452206 1 FLC 40,625.00 40,625.00 6,522.31 15.170% FL - 65.00% 360 Mar-31-99
9459766 1 23,075.00 23,048.87 23,048.87 14.670% NY - 65.00% 360 Feb-24-99
9472797 1 REO 33,800.00 33,777.08 7,642.51 13.100% FL - 65.00% 360 Mar-24-99
9484507 1 REO 24,000.00 24,000.00 2,779.20 15.170% FL - 45.20% 360 Apr-14-99
9495959 1 21,000.00 20,981.95 20,981.95 15.170% NY - 60.00% 360 Apr-29-99
9495975 1 FLC 22,800.00 22,783.75 22,783.75 15.170% NY - 60.00% 360 Apr-29-99
9509666 1 19,500.00 19,294.79 19,294.79 13.670% GA - 65.00% 180 May-28-99
9400494 2 19,200.00 19,171.17 19,171.17 14.040% OH - 60.00% 360 Oct-22-98
9460357 2 FLC 88,500.00 88,306.25 11,673.50 11.000% OR - 75.00% 360 Feb-24-99
9512233 2 33,750.00 33,720.99 33,720.99 12.040% MD - 75.00% 360 Jun-21-99
9542663 2 FLC 102,400.00 102,400.00 38,727.69 9.270% WA - 80.00% 360 Jul-07-99
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 25 of 26
<PAGE>
AAMES 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES
TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT FOR MAY 15, 2000 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
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
ADJUSTABLE RATE CERTIFICATE INFORMATION ADJUSTABLE FIXED TOTAL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
- ----------------------------------------------------------------------------------------------------------------------------------
<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
<PAGE>
EXHIBIT 20.2
-6-
<PAGE>
DEUTSCHE BANK [LOGO]
Statement to Certificateholders
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
CONTENTS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TABLE OF CONTENTS
----------------------------------------------------------------------
Page
----
<S> <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 17
8. Prepayment Report 18
9. Prepayment Detail Report 21
10. Realized Loss Report 23
11. Realized Loss Detail Report 26
12. Triggers, Adj. Rate Cert. and Miscellaneous Report 27
--------
Total Number of Pages 27
----------------------------------------------------------------------
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
----------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ISSUANCE INFORMATION
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Seller: Aames Capital Corporation Cut-Off Date: November 1, 1999
Certificate Insurer: Financial Security Assurance Inc. Closing Date: November 18, 1999
Servicer(s): Aames Capital Corporation Master Servicer First Payment Date: December 15, 1999
Fairbanks Capital Corp. Back-Up Servicer
Underwriter(s): Banc Of America Securities LLC Lead Underwriter Distribution Date: May 15, 2000
Greenwich Capital Markets, Inc. Co-Lead Underwriter Record Date: May 12, 2000
Lehman Brothers Securities Corporation Co-Lead Underwriter April 28, 2000
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC I SERIES 1999-2
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - CURRENT PERIOD
-----------------------------------------------------------------------------------------------------------------------
Prior
Class Original Principal Total
Class Type Face Value Balance Interest Principal Distribution
-----------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3)
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-F 229,500,000.00 219,585,359.39 1,388,694.41 2,882,220.51 4,270,914.92
A-V1 155,000,000.00 148,387,064.21 752,487.29 3,098,015.45 3,850,502.74
A-V2 15,500,000.00 14,516,391.83 74,291.67 39,463.81 113,755.48
C 3,494,923.86 6,903,656.36 - - -
R-II - - - - -
-----------------------------------------------------------------------------------------------------------------------
Total 403,494,923.86 389,392,471.79 2,215,473.37 6,019,699.77 8,235,173.14
-----------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
--------------------------------------------------------------
(5) (6) (7)=(1)-(3)-(5)+(6)
--------------------------------------------------------------
<S> <C> <C> <C>
A-F - - 216,703,138.88
A-V1 - - 145,289,048.76
A-V2 - - 14,476,928.02
C - 651,589.53 7,555,245.89
R-II - - -
--------------------------------------------------------------
Total - 651,589.53 384,024,361.55
--------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST ACCRUAL DETAIL CURRENT PERIOD FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
---------------------------------------------------------------------------------------------------------------------
Orig. Principal Prior
Period Period (with Notional) Principal
Class Starting Ending Method Cusip Balance Balance Interest
---------------------------------------------------------------------------------------------------------------------
(1) (2)
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-F F-30/360 00253CFR3 229,500,000.00 956.798952 6.050956
A-V1 04/17/00 05/14/00 A-Act/360 00253CFS1 155,000,000.00 957.335898 4.854757
A-V2 04/17/00 05/14/00 A-Act/360 00253CFT9 15,500,000.00 936.541408 4.793011
C - 3,494,923.86 1,975.338129 -
R-II - - - -
---------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------
Current
Total Principal
Class Principal Distribution Balance
------------------------------------------------------
(3) (4)=(2)+(3) (5)
------------------------------------------------------
<S> <C> <C> <C>
A-F 12.558695 18.609651 944.240257
A-V1 19.987196 24.841953 937.348702
A-V2 2.546052 7.339063 933.995356
C - - 2,161.776964
R-II - - -
------------------------------------------------------
</TABLE>
Page 2 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC I SERIES 1999-2
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - TO DATE
---------------------------------------------------------------------------------------------------------------------
Original Unscheduled Scheduled Total Total
Class Face Value Interest Principal Principal Principal Distribution
---------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5)
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-F 229,500,000.00 8,553,883.97 11,491,461.51 1,305,399.61 12,796,861.12 21,350,745.09
A-V1 155,000,000.00 4,803,878.48 9,296,292.55 414,658.69 9,710,951.24 14,514,829.72
A-V2 15,500,000.00 485,378.35 981,145.60 41,926.40 1,023,072.00 1,508,450.35
C 3,494,923.86 - - - - -
R-II - - - - - -
---------------------------------------------------------------------------------------------------------------------
Total 403,494,923.86 13,843,140.80 21,768,899.65 1,761,984.70 23,530,884.35 37,374,025.15
---------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
---------------------------------------------------------
(7) (8) (9)=(1)-(5)-(7)+(8)
---------------------------------------------------------
<S> <C> <C> <C>
A-F - - 216,703,138.88
A-V1 - - 145,289,048.76
A-V2 - - 14,476,928.02
C - 4,060,322.03 7,555,245.89
R-II - - -
---------------------------------------------------------
Total - 4,060,322.03 384,024,361.55
---------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST DETAIL
---------------------------------------------------------------------------------------------------
Pass- Prior Principal Non- Prior
Through (with Notional) Accrued Supported Unpaid
Class Rate Balance Interest Interest SF Interest
---------------------------------------------------------------------------------------------------
(1) (2) (3)
---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-F 7.58900% 219,585,359.39 1,388,694.41 - -
A-V1 6.52000% 148,387,064.21 752,487.29 - -
A-V2 6.58000% 14,516,391.83 74,291.67 - -
C 6,903,656.36 - - -
R-II - - - -
---------------------------------------------------------------------------------------------------
Total 389,392,471.79 2,215,473.37 - -
---------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------------------------------------------------
Unscheduled Paid or Current
Interest Optimal Deferred Unpaid
Class Adjustments Interest Interest Interest
-----------------------------------------------------------------------------
(4) (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
-----------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-F - 1,388,694.41 1,388,694.41 -
A-V1 - 752,487.29 752,487.29 -
A-V2 - 74,291.67 74,291.67 -
C - - 651,589.53 -
R-II - - - -
-----------------------------------------------------------------------------
Total - 2,215,473.37 2,867,062.90 -
-----------------------------------------------------------------------------
</TABLE>
Page 3 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC II SERIES 1999-2
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - CURRENT PERIOD
----------------------------------------------------------------------------------------------------------------------
Prior
Class Original Principal Total
Class Type Face Value Balance Interest Principal Distribution
----------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)=(2)+(3)
----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LT-AF 22,950.00 21,958.54 142.37 288.22 430.59
LT-MF 232,971,973.85 224,565,304.26 1,751,117.43 2,519,366.90 4,270,484.33
LT-AV1 15,500.00 14,838.71 77.57 309.80 387.37
LT-MV1 154,984,500.00 150,062,280.29 1,187,249.37 2,662,866.00 3,850,115.37
LT-AV2 1,550.00 1,451.64 7.78 3.95 11.73
----------------------------------------------------------------------------------------------------------------------
LT-MV2 15,498,450.00 14,678,087.84 108,439.37 5,304.38 113,743.75
R-I - - - - -
-----------------------------------------------------------------------------------------------------------------------
Total 403,494,923.85 389,343,921.28 3,047,033.90 5,188,139.25 8,235,173.15
----------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
--------------------------------------------------------------------
(5) (6) (7)=(1)-(3)-(5)+(6)
--------------------------------------------------------------------
<S> <C> <C> <C>
LT-AF 0.01 - 21,670.31
LT-MF 71,168.70 36.26 221,974,804.92
LT-AV1 0.01 - 14,528.90
LT-MV1 49,746.14 43.49 147,349,711.64
LT-AV2 - - 1,447.69
--------------------------------------------------------------------
LT-MV2 - 3.42 14,672,786.88
R-I - - -
--------------------------------------------------------------------
Total 120,914.86 83.16 384,034,950.34
--------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST ACCRUAL DETAIL CURRENT PERIOD FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
---------------------------------------------------------------------------------------------------------------------
Orig. Principal Prior
Period Period (with Notional) Principal
Class Starting Ending Method Cusip Balance Balance Interest
---------------------------------------------------------------------------------------------------------------------
(1) (2)
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
LT-AF F-30/360 22,950.00 956.799129 6.203486
LT-MF F-30/360 232,971,973.85 963.915533 7.516430
LT-AV1 04/17/00 05/14/00 A-Act/360 15,500.00 957.336129 5.004516
LT-MV1 A-Act/360 154,984,500.00 968.240568 7.660439
LT-AV2 04/17/00 05/14/00 A-Act/360 1,550.00 936.541935 5.019355
---------------------------------------------------------------------------------------------------------------------
LT-MV2 A-Act/360 15,498,450.00 947.068116 6.996788
R-I - - - -
---------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------
Current
Total Principal
Class Principal Distribution Balance
------------------------------------------------------
(3) (4)=(2)+(3) (5)
------------------------------------------------------
<S> <C> <C> <C>
LT-AF 12.558606 18.762092 944.240087
LT-MF 10.814034 18.330464 952.796172
LT-AV1 19.987097 24.991613 937.348387
LT-MV1 17.181499 24.841938 950.738375
LT-AV2 2.548387 7.567742 933.993548
------------------------------------------------------
LT-MV2 0.342252 7.339041 946.726084
R-I - - -
------------------------------------------------------
</TABLE>
Page 4 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REMIC II SERIES 1999-2
CERTIFICATE PAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS - TO DATE
-----------------------------------------------------------------------------------------------------------------------
Original Unscheduled Scheduled Total Total
Class Face Value Interest Principal Principal Principal Distribution
-----------------------------------------------------------------------------------------------------------------------
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5)
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LT-AF 22,950.00 868.92 1,149.15 130.54 1,279.69 2,148.61
LT-MF 232,971,973.85 10,549,243.28 9,493,830.48 1,305,522.72 10,799,353.20 21,348,596.48
LT-AV1 15,500.00 485.19 929.63 41.45 971.08 1,456.27
LT-MV1 154,984,500.00 7,024,088.96 7,074,383.47 414,900.96 7,489,284.43 14,513,373.39
LT-AV2 1,550.00 49.08 98.11 4.21 102.32 151.40
LT-MV2 15,498,450.00 685,335.49 784,429.83 41,257.38 825,687.21 1,511,022.70
R-I - 0.01 - - - 0.01
-----------------------------------------------------------------------------------------------------------------------
Total 403,494,923.85 18,260,070.93 17,354,820.67 1,761,857.26 19,116,677.93 37,376,748.86
-----------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------
Current
Realized Deferred Principal
Class Losses Interest Balance
------------------------------------------------------------
(7) (8) (9)=(1)-(5)-(7)+(8)
------------------------------------------------------------
<S> <C> <C> <C>
LT-AF - - 21,670.31
LT-MF 198,015.38 199.65 221,974,804.92
LT-AV1 0.02 - 14,528.90
LT-MV1 145,726.03 222.10 147,349,711.64
LT-AV2 (0.01) - 1,447.69
LT-MV2 (4.36) 19.73 14,672,786.88
R-I - - -
------------------------------------------------------------
Total 343,737.06 441.48 384,034,950.34
------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST DETAIL
------------------------------------------------------------------------------------------------------
Pass- Prior Principal Non- Prior
Through (with Notional) Accrued Supported Unpaid
Class Rate Balance Interest Interest SF Interest
------------------------------------------------------------------------------------------------------
(1) (2) (3)
------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
LT-AF 7.58900% 21,958.54 142.37 - -
LT-MF 9.12737% 224,565,304.26 1,751,153.69 - -
LT-AV1 6.52000% 14,838.71 77.57 - -
LT-MV1 9.20987% 150,062,280.29 1,187,292.86 - -
LT-AV2 6.58000% 1,451.64 7.78 - -
------------------------------------------------------------------------------------------------------
LT-MV2 9.07394% 14,678,087.84 108,442.79 - -
R-I - - - -
------------------------------------------------------------------------------------------------------
Total 389,343,921.28 3,047,117.06 - -
------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------------------------------------------------
Unscheduled Paid or Current
Interest Optimal Deferred Unpaid
Class Adjustments Interest Interest Interest
----------------------------------------------------------------------------
(4) (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
----------------------------------------------------------------------------
<S> <C> <C> <C> <C>
LT-AF - 142.37 142.37 -
LT-MF - 1,751,153.69 1,751,153.69 -
LT-AV1 - 77.57 77.57 -
LT-MV1 - 1,187,292.86 1,187,292.86 -
LT-AV2 - 7.78 7.78 -
----------------------------------------------------------------------------
LT-MV2 - 108,442.79 108,442.79 -
R-I - - - -
----------------------------------------------------------------------------
Total - 3,047,117.06 3,047,117.06 -
----------------------------------------------------------------------------
</TABLE>
Page 5 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
COLLECTION ACCOUNT REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Principal Collections 5,304.91 2,663,132.31 2,519,618.86 5,188,056.08
Principal Withdrawals 0.00 0.00 0.00 0.00
Principal Other Accounts 0.00 0.00 0.00 0.00
TOTAL NET PRINCIPAL 5,304.91 2,663,132.31 2,519,618.86 5,188,056.08
Interest Collections 120,490.97 1,328,233.47 1,936,963.70 3,385,688.14
Interest Withdrawals 0.00 (904.91) (4,962.04) (5,866.95)
Interest Other Accounts 0.00 0.00 0.00 0.00
Interest Fees (12,040.40) (139,958.13) (180,705.60) (332,704.13)
TOTAL NET INTEREST 108,450.57 1,187,370.43 1,751,296.06 3,047,117.06
TOTAL AVAILABLE FUNDS TO BONDHOLDERS 113,755.48 3,850,502.74 4,270,914.92 8,235,173.14
Capitalized Interest 0.00 0.00 0.00 0.00
TOTAL REMITANCE DUE FROM SERVICER 121,095.47 3,939,241.25 4,372,522.28 8,432,859.00
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
PRINCIPAL - COLLECTIONS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Scheduled Principal 5,304.91 69,793.23 193,166.34 268,264.48
Curtailments 0.00 0.00 0.00 0.00
Prepayments in Full 0.00 2,421,290.92 2,279,480.80 4,700,771.72
Repurchases/Substitutions 0.00 0.00 0.00 0.00
Liquidations 0.00 221,794.31 118,140.43 339,934.74
Insurance Principal 0.00 0.00 0.00 0.00
Other Additional Principal 0.00 0.00 0.00 0.00
Delinquent Principal 0.00 0.00 0.00 0.00
Realized Losses 0.00 (49,746.15) (71,168.71) (120,914.86)
Mortgage Replacement Amount 0.00 0.00 0.00 0.00
TOTAL PRINCIPAL COLLECTED 5,304.91 2,663,132.31 2,519,618.86 5,188,056.08
-------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
COLLECTION ACCOUNT REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
PRINCIPAL - WITHDRAWALS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
--------------------------------------------------------------------------------------------------------------------
<CAPTION>
PRINCIPAL - OTHER ACCOUNTS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Prefunded Release Amount 0.00 0.00 0.00 0.00
TOTAL OTHER ACCOUNTS PRINCIPAL 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------
<CAPTION>
INTEREST - COLLECTIONS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Scheduled Interest 121,907.04 1,300,976.84 1,902,219.63 3,325,103.51
Repurchases/Substitutions 0.00 0.00 0.00 0.00
Liquidations 0.00 2,119.80 1,208.67 3,328.47
Insurance Interest 0.00 0.00 0.00 0.00
Other Additional Interest 0.00 0.00 0.00 0.00
Prepayment Interest Shortfalls 0.00 0.00 0.00 0.00
Delinquent Interest (29,697.29) (253,222.10) (316,855.07) (599,774.46)
Realized Losses 0.00 0.00 0.00 0.00
Compensating 0.00 0.00 0.00 0.00
Interest
Other Interest Shortfall (Relief Act) 0.00 0.00 0.00 0.00
Interest Advanced 28,281.22 241,909.59 302,375.29 572,566.10
Closing Date 0.00 0.00 0.00 0.00
Deposits
Insurer Interest to Cover PPIS 0.00 0.00 0.00 0.00
Prepayment Penalties 0.00 36,449.34 48,015.18 84,464.52
TOTAL INTEREST COLLECTED 120,490.97 1,328,233.47 1,936,963.70 3,385,688.14
--------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 7 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
COLLECTION ACCOUNT REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
COLLECTION ACCOUNT REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Unpaid Servicing Fees 0.00 0.00 0.00 0.00
Advances Reimbursed 0.00 904.91 4,962.04 5,866.95
TOTAL INTEREST WITHDRAWLS 0.00 904.91 4,962.04 5,866.95
-----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
INTEREST - OTHER ACCOUNTS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Capitialized Interest Requirement 0.00 0.00 0.00 0.00
TOTAL OTHER ACCOUNT INTEREST 0.00 0.00 0.00 0.00
-----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
INTEREST - FEES ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Current Servicing Fees 4,700.41 51,219.62 79,098.24 135,018.27
Back Up Servicing Fees 305.82 3,126.61 4,678.90 8,111.33
Certificate Insurance Premiums 2,782.31 28,440.85 42,087.19 73,310.35
Trustee Fees 0.00 0.00 0.00 0.00
PMI 4,251.86 57,171.05 54,841.27 116,264.18
TOTAL INTEREST OTHER FEES 12,040.40 139,958.13 180,705.60 332,704.13
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 8 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
CREDIT ENHANCEMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
CREDIT ENHANCEMENT REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
ACCOUNTS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
--------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
INSURANCE ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Insurance Premium Due 2,782.31 28,440.85 42,087.19 73,310.35
Insurance Premium Paid 2,782.31 28,440.85 42,087.19 73,310.35
Reimbursements to Certificate Insurer 0.00 0.00 0.00 0.00
Insured Payments Made By Certiifcate Insurer 0.00 0.00 0.00 0.00
Insurance Premiums Due but not Paid 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
STRUCTURAL FEATURES ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Extra Principal Distribution Amt 34,158.90 434,883.14 362,601.65 831,643.69
Overcollateralization Amount 197,306.55 2,075,191.78 5,293,336.35 7,565,834.68
Targeted Overcollateralization Amt 697,500.00 6,975,000.00 10,484,771.57 18,157,271.57
Overcollateralization Release Amount 0.00 0.00 0.00 0.00
Overcollateralization Defficiency Amt 534,352.35 5,334,691.36 5,554,036.87 11,423,080.58
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 9 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
COLLATERAL REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
COLLATERAL REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
COLLATERAL ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Loan Count:
ORIGINAL 40 1672 2983 4695
Prior 52 1,814 3,297 5,163
Prefunding - - - -
Scheduled Paid Offs - - - -
Full Voluntary Prepayments - (26) (46) (72)
Repurchases - - - -
Liquidations - (3) (3) (6)
----------------------------------------------------------------------------------------------------------------------------
Current 52 1,785 3,248 5,085
PRINCIPAL BALANCE:
Original 12,355,122.19 140,132,704.74 204,775,276.64 357,263,103.57
Prior 14,679,539.48 150,077,119.00 224,587,262.80 389,343,921.28
Prefunding - - - -
Scheduled Principal (5,304.91) (69,793.23) (193,166.34) (268,264.48)
Partial and Full Voluntary Prepayments - (2,421,290.92) (2,279,480.80) (4,700,771.72)
Repurchases - - - -
----------------------------------------------------------------------------------------------------------------------------
Liquidations - (221,794.31) (118,140.43) (339,934.74)
Current 14,674,234.57 147,364,240.54 221,996,475.23 384,034,950.34
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
PREFUNDING ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Prefunding Beginning Balance 0.00 0.00 0.00 0.00
Balance of Subsequent Loans Transfered 0.00 0.00 0.00 0.00
Prefunded Amount Dispursed To Offered Certificates 0.00 0.00 0.00 0.00
Prefunding Ending Balance 0.00 0.00 0.00 0.00
Capitalized Interest Beginning Balance 0.00 0.00 0.00 0.00
Capitalized Interest Requirement 0.00 0.00 0.00 0.00
Capitalized Interest Released to Seller 0.00 0.00 0.00 0.00
Capitalized Interest Ending Balance 0.00 0.00 0.00 0.00
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
CURRENT PRIN BALANCE BY GROUPS TOTAL CURRENT PRINCIPAL BALANCE
(IN MILLIONS OF DOLLARS) (IN MILLIONS OF DOLLARS)
[GRAPH] [GRAPH]
Page 10 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
COLLATERAL REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
COLLATERAL REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
CHARACTERISTICS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Weighted Average Coupon Original 9.821401% 10.362308% 10.137077% 10.214505%
Weighted Average Coupon Prior 10.006763% 10.420355% 10.174699% 10.262569%
Weighted Average Coupon Current 9.965466% 10.419416% 10.170274% 10.258587%
---------------------------------------------------------------------------------------------------------------------------
Weighted Average Months to Maturity Original 358 357 324 338
Weighted Average Months to Maturity Prior 354 353 320 334
Weighted Average Months to Maturity Current 353 352 319 333
---------------------------------------------------------------------------------------------------------------------------
Weighted Avg Remaining Amortization Term Original 358 357 325 339
Weighted Avg Remaining Amortization Term Prior 355 353 321 335
Weighted Avg Remaining Amortization Term Current 354 352 320 334
---------------------------------------------------------------------------------------------------------------------------
Weighted Average Seasoning Original 1.75 1.69 1.86 1.79
Weighted Average Seasoning Prior 5.26 5.50 5.59 5.54
Weighted Average Seasoning Current 6.26 6.49 6.58 6.54
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
NOTE: ORIGINAL INFORMATION REFERS TO DEAL ISSUE.
WAC BY GROUPS TOTAL WAC
[GRAPH] [GRAPH]
WARAT BY GROUPS TOTAL WARAT
[GRAPH] [GRAPH]
NOTE: DATES CORRESPOND TO DISTRIBUTION DATES.
Page 11 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
COLLATERAL REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
COLLATERAL REPORT
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
ARM CHARACTERISTICS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Weighted Average Margin Original 5.919% 5.907%
Weighted Average Margin Prior 5.894% 5.917%
Weighted Average Margin Current 5.855% 5.915%
--------------------------------------------------------------------------------------------------------------------------
Weighted Average Max Rate Original 15.848% 16.424% 10.137%
Weighted Average Max Rate Prior 15.986% 16.459% 10.175%
Weighted Average Max Rate Current 15.944% 16.455% 10.170%
--------------------------------------------------------------------------------------------------------------------------
Weighted Average Min Rate Original 9.821% 10.357% 10.137%
Weighted Average Min Rate Prior 9.951% 10.400% 10.113%
Weighted Average Min Rate Current 9.909% 10.395% 10.108%
--------------------------------------------------------------------------------------------------------------------------
Weighted Average Cap Up Original 2.026% 2.026%
Weighted Average Cap Up Prior 2.035% 2.024%
Weighted Average Cap Up Current 2.035% 2.024%
--------------------------------------------------------------------------------------------------------------------------
Weighted Average Cap Down Original 2.026% 2.026%
Weighted Average Cap Down Prior 2.035% 2.024%
Weighted Average Cap Down Current 2.035% 2.024%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
NOTE: ORIGINAL INFORMATION REFERS TO DEAL ISSUE.
<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Current Servicing Fees 4,700.41 51,219.62 79,098.24 135,018.27
Delinquent Servicing Fees 1,416.07 11,312.51 14,479.78 27,208.36
TOTAL SERVICING FEES 6,116.48 62,532.13 93,578.02 162,226.63
Total Servicing Fees 6,116.48 62,532.13 93,578.02 162,226.63
Compensating Interest 0.00 0.00 0.00 0.00
Delinquent Servicing Fees (1,416.07) (11,312.51) (14,479.78) (27,208.36)
COLLECTED SERVICING FEES 4,700.41 51,219.62 79,098.24 135,018.27
Prepayment Interest Shortfall 0.00 0.00 0.00 0.00
Total Advanced Interest 28,281.22 241,909.59 302,375.29 572,566.10
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 12 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
DELINQUENCY REPORT - TOTAL
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 10,142,684.21 2,849,462.63 759,527.91 13,751,674.75
% Balance 2.64% 0.74% 0.20% 3.58%
# Loans 121 19 17 157
% # Loans 2.38% 0.37% 0.33% 3.09%
--------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 71,367.84 273,520.39 2,798,597.79 13,226,711.13 16,370,197.15
% Balance 0.02% 0.07% 0.73% 3.44% 4.26%
# Loans 1 7 41 182 231
% # Loans 0.02% 0.14% 0.81% 3.58% 4.54%
--------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 766,892.88 31,198.57 205,766.58 339,876.47 1,343,734.50
% Balance 0.20% 0.01% 0.05% 0.09% 0.35%
# Loans 7 1 3 4 15
% # Loans 0.14% 0.02% 0.06% 0.08% 0.29%
--------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 182,830.03 182,830.03
% Balance 0.00% 0.00% 0.00% 0.05% 0.05%
# Loans - - - 4 4
% # Loans 0.00% 0.00% 0.00% 0.08% 0.08%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 838,260.72 10,447,403.17 5,853,827.00 14,508,945.54 31,648,436.43
% Balance 0.22% 2.72% 1.52% 3.78% 8.24%
# Loans 8 129 63 207 407
% # Loans 0.16% 2.54% 1.24% 4.07% 8.00%
--------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29 DAYS, 1 PAYMENT =30-59 DAYS, 2 PAYMENTS = 60-89 DAYS, 3+ PAYMENTS = 90+
</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 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
DELINQUENCY REPORT - FIXED GROUP
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 4,508,834.58 777,358.86 323,002.75 5,609,196.19
% Balance 2.03% 0.35% 0.15% 2.53%
# Loans 66 14 10 90
% # Loans 2.03% 0.43% 0.31% 2.77%
-------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance - 81,021.63 1,230,273.51 5,851,797.48 7,163,092.62
% Balance 0.00% 0.04% 0.55% 2.64% 3.23%
# Loans - 2 20 96 118
% # Loans 0.00% 0.06% 0.62% 2.96% 3.63%
-------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 548,629.84 31,198.57 24,980.50 136,253.50 741,062.41
% Balance 0.25% 0.01% 0.01% 0.06% 0.33%
# Loans 5 1 1 2 9
% # Loans 0.15% 0.03% 0.03% 0.06% 0.28%
-------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 19,980.87 19,980.87
% Balance 0.00% 0.00% 0.00% 0.01% 0.01%
# Loans - - - 1 1
% # Loans 0.00% 0.00% 0.00% 0.03% 0.03%
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 548,629.84 4,621,054.78 2,032,612.87 6,331,034.60 13,533,332.09
% Balance 0.25% 2.08% 0.92% 2.85% 6.10%
# Loans 5 69 35 109 218
% # Loans 0.15% 2.12% 1.08% 3.36% 6.71%
-------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29 DAYS, 1 PAYMENT =30-59 DAYS, 2 PAYMENTS = 60-89 DAYS, 3+ PAYMENTS = 90+
</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 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
DELINQUENCY REPORT - ADJUSTABLE 1 GROUP
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 4,122,937.08 561,191.22 436,525.16 5,120,653.46
% Balance 2.80% 0.38% 0.30% 3.47%
# Loans 50 5 7 62
% # Loans 2.80% 0.28% 0.39% 3.47%
--------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance 71,367.84 192,498.76 1,253,798.86 7,274,913.65 8,792,579.11
% Balance 0.05% 0.13% 0.85% 4.94% 5.97%
# Loans 1 5 20 85 111
% # Loans 0.06% 0.28% 1.12% 4.76% 6.22%
--------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance 218,263.04 - 180,786.08 203,622.97 602.672.09
% Balance 0.15% 0.00% 0.12% 0.14% 0.41%
# Loans 2 - 2 2 6
% # Loans 0.11% 0.00% 0.11% 0.11% 0.34%
--------------------------------------------------------------------------------------------------------------------------------
REO Balance - - - 162,849.16 162,849.16
% Balance 0.00% 0.00% 0.00% 0.11% 0.11%
# Loans - - - 3 3
% # Loans 0.00% 0.00% 0.00% 0.17% 0.17%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
TOTAL Balance 289,630.88 4,315,435.84 1,995,776.16 8,077,910.94 14,678,753.82
% Balance 0.20% 2.93% 1.35% 5.48% 9.96%
# Loans 3 55 27 97 182
% # Loans 0.17% 3.08% 1.51% 5.43% 10.20%
--------------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29DAYS, 1 PAYMENT =30-59DAYS, 2 PAYMENTS = 60-89DAYS, 3+ PAYMENTS = 90+
</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 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
DELINQUENCY REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
DELINQUENCY REPORT - ADJUSTABLE 2 GROUP
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT 1 PAYMENT 2 PAYMTS 3+ PAYMTS TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 1,510,912.55 1,510,912.55 - 3,021,825.10
% Balance 10.30% 10.30% 0.00% 20.59%
# Loans 5 - - 5
% # Loans 9.62% 0.00% 0.00% 9.62%
-----------------------------------------------------------------------------------------------------------------------------
FORECLOSURE Balance - - 314,525.42 100,000.00 414,525.42
% Balance 0.00% 0.00% 2.14% 0.68% 2.82%
# Loans - - 1 1 2
% # Loans 0.00% 0.00% 1.92% 1.92% 3.85%
-----------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY Balance - - - - -
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans - - - - -
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
-----------------------------------------------------------------------------------------------------------------------------
REO Balance - - - - -
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans - - - - -
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
TOTAL Balance - 1,510,912.55 1,825,437.97 100,000.00 3,436,350.52
% Balance 0.00% 10.30% 12.44% 0.68% 23.42%
# Loans - 5 1 1 7
% # Loans 0.00% 9.62% 1.92% 1.92% 13.46%
-----------------------------------------------------------------------------------------------------------------------------
NOTE: CURRENT = 0-29 DAYS, 1 PAYMENT =30-59 DAYS, 2 PAYMENTS = 60-89 DAYS, 3+ PAYMENTS = 90+
</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 16 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REO REPORT FOR MAY 15, 2000 DISTRIBUTION
-----------------------------------------------------------------------------
REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
--------------------------------------------------------------------------------------------------------------------------------
<S> <C>
Total Loan Count = 3 Loan Group 1 = Fixed Group; REO Book Value = Not Available
Total Original Principal Balance = 162,860.00 Loan Group 2 = Adjustable 1 Group; REO Book Value = Not Available
Total Current Balance = 162,849.16 Loan Group 3 = Adjustable 2 Group; REO Book Value = Not Available
REO Book Value = Not Available Loan Group 3 = Adjustable 2 Group; 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>
9562621 2 59,800.00 59,789.16 Nov-01-99 14.020% WV - 65.00% 360 Sep-20-99
9567828 2 53,900.00 53,900.00 Oct-01-99 13.940% VA - 70.00% 360 Sep-30-99
9573429 2 49,160.00 49,160.00 Nov-01-99 11.020% MO - 78.03% 360 Oct-08-99
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 17 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CURRENT
Number of Paid in Full Loans - 26 46 72
Number of Repurchased Loans - - - -
-------------------------------------------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full - 26 46 72
Paid in Full Balance - 2,421,290.92 2,279,480.80 4,700,771.72
Repurchased Loans Balance - - - -
Curtailments Amount - - - -
-------------------------------------------------------------------------------------------------------------------------
Total Prepayment Amount - 2,421,290.92 2,279,480.80 4,700,771.72
CUMULATIVE
Number of Paid in Full Loans 3 83 168 254
Number of Repurchased Loans - - - -
-------------------------------------------------------------------------------------------------------------------------
Total Number of Loans Prepaid in Full 3 83 168 254
Paid in Full Balance 784,516.22 6,905,865.64 9,423,453.76 17,113,835.62
Repurchased Loans Balance - - - -
Curtailments Amount (900.31) (3,755.53) (12,674.55) (17,330.39)
-------------------------------------------------------------------------------------------------------------------------
Total Prepayment Amount 783,615.91 6,902,110.11 9,410,779.21 17,096,505.23
SPACE INTENTIONALLY LEFT BLANK
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
TOTAL PREPAYMENTS BY GROUPS TOTAL PREPAYMENTS
(IN THOUSANDS OF DOLLARS) (IN THOUSANDS OF DOLLARS)
[GRAPH] [GRAPH]
Page 18 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENT RATES ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SMM 0.00% 1.61% 1.02% 1.21%
3 Months Avg SMM 1.72% 1.00% 0.98% 1.02%
12 Months Avg SMM
Avg SMM Since Cut-off 0.86% 0.77% 0.69% 0.73%
CPR 0.00% 17.74% 11.53% 13.57%
3 Months Avg CPR 18.80% 11.32% 11.17% 11.54%
12 Months Avg CPR
Avg CPR Since Cut-off 9.89% 8.83% 8.02% 8.41%
PSA 0.00% 1366.05% 875.67% 1038.13%
3 Months Avg PSA Approximation 1781.01% 1030.03% 999.59% 1040.99%
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation 1276.76% 1095.65% 969.49% 1029.42%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
CPR BY GROUPS TOTAL CPR
[GRAPH] [GRAPH]
PSA BY GROUPS TOTAL PSA
[GRAPH] [GRAPH]
Page 19 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT REPORT FOR MAY 15, 2000 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]
<TABLE>
<CAPTION>
PREPAYMENT CALCULATION METHODOLOGY
- ---------------------------------------------------------------------------------------------------------------------------------
<S><C>
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.
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 20 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT DETAIL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- ---------------------------------------------------- ------------------------------------------------------------
<S> <C>
Total Loan Count = 72 Loan Group 1 = Fixed Group
Total Original Principal Balance = 4,817,785.00 Loan Group 2 = Adjustable 1 Group
Total Prepayment Amount = 4,700,771.72 Loan Group 3 = Adjustable 2 Group
Loan Group 3 = Adjustable 2 Group
- ---------------------------------------------------- ------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
Loan Number Original Current
& Loan Principal Prepayment Prepayment Note
Loan Group Status Balance Amount Date Rate
------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1478001 1 50,000.00 49,900.43 Apr-30-00 9.500%
7629818 1 FCL 50,000.00 49,845.72 Apr-30-00 14.750%
7637055 1 25,000.00 24,637.68 Apr-30-00 13.500%
7637373 1 43,000.00 42,900.65 Apr-30-00 10.750%
7640587 1 47,700.00 45,793.85 Apr-30-00 8.000%
7647921 1 23,840.00 23,232.12 Apr-30-00 15.600%
7652976 1 31,200.00 31,118.06 Apr-30-00 10.150%
7653646 1 47,400.00 46,860.90 Apr-30-00 12.850%
7654553 1 75,000.00 74,749.52 Apr-30-00 9.000%
7659822 1 16,000.00 15,786.69 Apr-30-00 11.650%
7665741 1 45,000.00 44,234.57 Apr-30-00 10.200%
7666829 1 15,000.00 13,701.29 Apr-30-00 13.000%
7669550 1 35,000.00 34,203.19 Apr-30-00 8.450%
7672683 1 10,100.00 9,495.12 Apr-30-00 13.750%
7674813 1 18,000.00 17,774.16 Apr-30-00 9.750%
7676158 1 26,000.00 25,962.63 Apr-30-00 13.500%
7676328 1 83,500.00 83,263.68 Apr-30-00 8.900%
7677006 1 19,000.00 18,947.39 Apr-30-00 9.900%
7679408 1 88,400.00 88,312.80 Apr-30-00 13.750%
7686803 1 18,000.00 17,838.69 Apr-30-00 10.950%
7691572 1 57,000.00 56,883.47 Apr-30-00 10.450%
7692595 1 30,000.00 29,891.78 Apr-30-00 9.450%
7696744 1 40,000.00 39,600.16 Apr-30-00 9.750%
7697147 1 94,300.00 94,100.11 Apr-30-00 9.200%
9502459 1 66,000.00 65,807.88 Apr-30-00 10.410%
9514708 1 59,400.00 59,244.53 Apr-30-00 11.190%
9515186 1 40,000.00 39,876.31 Apr-30-00 9.370%
9515364 1 92,000.00 91,832.92 Apr-30-00 11.000%
9519513 1 70,000.00 69,821.36 Apr-30-00 9.600%
9530673 1 51,430.00 51,360.39 Apr-30-00 12.340%
9531238 1 216,000.00 215,642.03 Apr-30-00 12.990%
9533354 1 48,000.00 47,869.62 Apr-30-00 9.990%
9535861 1 152,000.00 56,443.13 Apr-30-00 9.940%
9539530 1 57,200.00 56,241.74 Apr-30-00 10.370%
9541845 1 30,600.00 30,530.74 Apr-30-00 9.970%
9544836 1 FCL 111,000.00 110,971.79 Apr-30-00 12.530%
9547339 1 120,000.00 119,619.79 Apr-30-00 10.010%
9557776 1 32,000.00 31,938.55 Apr-30-00 10.740%
9561994 1 48,000.00 47,883.08 Apr-30-00 11.240%
9565787 1 25,000.00 24,689.72 Apr-30-00 9.870%
9570381 1 42,000.00 41,541.96 Apr-30-00 11.290%
9582045 1 33,840.00 33,796.35 Apr-30-00 12.560%
9591737 1 26,800.00 26,682.90 Apr-30-00 11.120%
9724923 1 FCL 48,000.00 47,980.93 Apr-30-00 10.500%
-----------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------------------------------------------------------------
Loan Number State & Type Prepayment
& LTV at & Origination
Loan Group Origination Original Term Date
-----------------------------------------------------------------------------------------
<S> <C> <C> <C>
1478001 1 PA - 53.76% Paid Off - 360 Sep-30-99
7629818 1 CA - 12.35% Paid Off - 180 Jun-29-99
7637055 1 OH - 41.67% Paid Off - 180 Jun-30-99
7637373 1 TX - 58.50% Paid Off - 360 Jul-16-99
7640587 1 FL - 61.95% Paid Off - 120 Jul-21-99
7647921 1 IL - 28.38% Paid Off - 120 Jul-26-99
7652976 1 IN - 63.67% Paid Off - 360 Aug-02-99
7653646 1 IL - 60.00% Paid Off - 180 Aug-10-99
7654553 1 CA - 50.00% Paid Off - 360 Aug-31-99
7659822 1 CO - 12.50% Paid Off - 180 Aug-02-99
7665741 1 AZ - 14.75% Paid Off - 180 Aug-27-99
7666829 1 MO - 33.33% Paid Off - 84 Aug-24-99
7669550 1 NV - 38.89% Paid Off - 180 Aug-30-99
7672683 1 AZ - 15.07% Paid Off - 60 Sep-07-99
7674813 1 OH - 36.00% Paid Off - 180 Sep-22-99
7676158 1 OH - 57.78% Paid Off - 360 Aug-25-99
7676328 1 CA - 53.87% Paid Off - 360 Sep-30-99
7677006 1 MI - 33.93% Paid Off - 360 Aug-31-99
7679408 1 IL - 65.00% Paid Off - 360 Sep-08-99
7686803 1 MI - 12.41% Paid Off - 180 Oct-12-99
7691572 1 OH - 69.51% Paid Off - 360 Sep-27-99
7692595 1 OH - 73.17% Paid Off - 360 Sep-27-99
7696744 1 PA - 63.49% Paid Off - 180 Oct-22-99
7697147 1 NV - 57.15% Paid Off - 360 Oct-11-99
9502459 1 GA - 75.00% Paid Off - 360 Aug-06-99
9514708 1 SC - 55.00% Paid Off - 360 Jun-25-99
9515186 1 NY - 9.41% Paid Off - 360 Aug-24-99
9515364 1 RI - 80.00% Paid Off - 360 Sep-09-99
9519513 1 CA - 70.00% Paid Off - 360 Jun-28-99
9530673 1 GA - 37.00% Paid Off - 360 Sep-03-99
9531238 1 GA - 72.00% Paid Off - 360 Jul-30-99
9533354 1 FL - 72.73% Paid Off - 360 Aug-02-99
9535861 1 FL - 77.95% Paid Off - 360 Sep-03-99
9539530 1 GA - 65.00% Paid Off - 180 Jul-26-99
9541845 1 IN - 34.00% Paid Off - 360 Sep-17-99
9544836 1 TX - 75.00% Paid Off - 360 Sep-03-99
9547339 1 FL - 66.67% Paid Off - 360 Jul-02-99
9557776 1 OH - 68.09% Paid Off - 360 Sep-03-99
9561994 1 OH - 78.69% Paid Off - 360 Aug-30-99
9565787 1 MS - 59.52% Paid Off - 180 Sep-27-99
9570381 1 TX - 80.00% Paid Off - 180 Oct-04-99
9582045 1 OH - 72.00% Paid Off - 360 Oct-19-99
9591737 1 KY - 80.00% Paid Off - 180 Nov-04-99
9724923 1 MT - 48.98% Paid Off - 360 Aug-24-99
---------------------------------------------------------------------------------------
</TABLE>
Page 21 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
PREPAYMENT DETAIL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
Loan Number Original Current State &
& Loan Principal Prepayment Prepayment Note LTV at
Loan Group Status Balance Amount Date Rate Origination
----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9733523 1 20,000.00 19,299.52 Apr-30-00 12.500% CA - 7.41%
9734333 1 11,500.00 11,370.90 Apr-30-00 12.990% ID - 4.96%
1479156 2 73,800.00 72,947.87 Apr-30-00 10.750% WA - 64.17%
1480529 2 FCL 106,600.00 106,600.00 Apr-30-00 14.750% CO - 65.00%
7685688 2 32,500.00 32,459.48 Apr-30-00 14.050% CO - 50.00%
9516646 2 175,000.00 174,376.95 Apr-30-00 10.110% IL - 70.00%
9521968 2 90,000.00 89,824.90 Apr-30-00 10.680% TX - 80.00%
9528903 2 92,000.00 91.723.93 Apr-30-00 9.520% CT - 80.00%
9531971 2 112,500.00 112,219.33 Apr-30-00 10.390% KS - 90.00%
9534091 2 159,000.00 158,336.08 Apr-30-00 6.970% CA - 75.00%
9534660 2 28,500.00 28,460.78 Apr-30-00 13.470% IN - 50.00%
9535101 2 130,410.00 130,086.75 Apr-30-00 11.160% MA - 89.94%
9537295 2 84,750.00 84,472.18 Apr-30-00 10.500% MN - 75.00%
9540687 2 84,400.00 84,164.04 Apr-30-00 9.690% IL - 73.39%
9542116 2 243,000.00 241,411.15 Apr-30-00 10.720% MA - 90.00%
9549218 2 FCL 65,000.00 64,983.44 Apr-30-00 12.520% SC - 65.00%
9554343 2 94,500.00 94,278.75 Apr-30-00 9.810% NJ - 90.00%
9556702 2 72,800.00 72,411.01 Apr-30-00 8.770% FL - 80.00%
9556974 2 FCL 143,100.00 142,866.66 Apr-30-00 9.060% CO - 90.00%
9558403 2 63,000.00 62,850.99 Apr-30-00 10.970% OH - 75.00%
9565493 2 127,500.00 127,244.30 Apr-30-00 10.910% IL - 75.00%
9565639 2 63,000.00 62,954.02 Apr-30-00 14.070% OH - 66.32%
9566252 2 66,300.00 66,171.51 Apr-30-00 10.720% MD - 85.00%
9567038 2 66,700.00 66,568.58 Apr-30-00 10.620% MA - 84.97%
9569472 2 43,500.00 43,424.50 Apr-30-00 11.210% MI - 75.00%
9570616 2 61,500.00 61,408.94 Apr-30-00 10.890% IN - 75.00%
9574042 2 110,215.00 110,067.49 Apr-30-00 10.000% MN - 69.76%
9577807 2 39,000.00 38,977.29 Apr-30-00 13.770% NC - 62.90%
----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------
Loan Number
& Original Origination
Loan Group Term Date
------------------------------------------------------------------
<S> <C> <C>
9733523 1 Paid Off - 120 Jun-30-99
9734333 1 Paid Off - 180 Aug-31-99
1479156 2 Paid Off - 360 Sep-03-99
1480529 2 Paid Off - 360 Aug-23-99
7685688 2 Paid Off - 360 Sep-30-99
9516646 2 Paid Off - 360 Jun-28-99
9521968 2 Paid Off - 360 Sep-07-99
9528903 2 Paid Off - 360 Aug-24-99
9531971 2 Paid Off - 360 Aug-30-99
9534091 2 Paid Off - 360 Sep-01-99
9534660 2 Paid Off - 360 Aug-04-99
9535101 2 Paid Off - 360 Jul-30-99
9537295 2 Paid Off - 360 May-28-99
9540687 2 Paid Off - 360 Aug-16-99
9542116 2 Paid Off - 360 Sep-14-99
9549218 2 Paid Off - 360 Aug-02-99
9554343 2 Paid Off - 360 Sep-14-99
9556702 2 Paid Off - 360 Aug-20-99
9556974 2 Paid Off - 360 Aug-20-99
9558403 2 Paid Off - 360 Sep-24-99
9565493 2 Paid Off - 360 Sep-27-99
9565639 2 Paid Off - 360 Sep-27-99
9566252 2 Paid Off - 360 Sep-28-99
9567038 2 Paid Off - 360 Sep-23-99
9569472 2 Paid Off - 360 Oct-07-99
9570616 2 Paid Off - 360 Oct-04-99
9574042 2 Paid Off - 360 Oct-04-99
9577807 2 Paid Off - 360 Oct-22-99
------------------------------------------------------------------
</TABLE>
Page 22 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CURRENT
Number of Loans Liquidated - 3 3 6
Collateral Realized Loss/(Gain) Amount - 49,746.15 71,168.71 120,914.86
Net Liquidation Proceeds - 172,048.16 46,971.72 219,019.88
CUMULATIVE
Number of Loans Liquidated - 7 7 14
Collateral Realized Loss/(Gain) Amount - 145,787.67 198,069.38 343,857.05
Net Liquidation Proceeds - 172,048.16 82,682.73 254,730.89
Note: Collateral realized losses may include
adjustments to loans liquidated in prior
periods.
Loss Percentage 0.0000% 0.0941% 0.0850% 0.1791%
Annualized Loss Percentage 0.0000% 0.0941% 0.0850% 0.1791%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
COLLATERAL LOSS SEVERITY COLLATERAL LOSS
APPROXIMATION BY GROUPS SEVERITY APPROXIMATION
[GRAPH] [GRAPH]
Page 23 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DEFAULT SPEEDS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MDR 0.00% 0.15% 0.05% 0.09%
3 Months Avg MDR 0.00% 0.07% 0.04% 0.05%
12 Months Avg MDR
Avg MDR Since Cut-off 0.00% 0.04% 0.02% 0.03%
CDR 0.00% 1.76% 0.63% 1.04%
3 Months Avg CDR 0.00% 0.84% 0.49% 0.61%
12 Months Avg CDR
Avg CDR Since Cut-off 0.00% 0.42% 0.25% 0.31%
SDA 0.00% 13.55% 4.78% 7.98%
3 Months Avg SDA Approximation 0.00% 7.65% 4.43% 5.50%
12 Months Avg SDA Approximation
Avg SDA Since Cut-off Approximation 0.00% 5.23% 2.99% 3.74%
Loss Severity Approximation for Current Period 22.43% 60.24% 35.57%
3 Months Avg Loss Severity Approximation 74.14% 77.60% 72.19%
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off 74.14% 77.60% 72.19%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
CDR BY GROUPS TOTAL CDR
[GRAPH] [GRAPH]
SDA BY GROUPS TOTAL SDA
[GRAPH] [GRAPH]
Page 24 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS REPORT FOR MAY 15, 2000 DISTRIBUTION
- ------------------------------------------------------------------------------
REALIZED LOSS REPORT - COLLATERAL
- ------------------------------------------------------------------------------
CDR AVG SINCE CUT-OFF BY GROUPS TOTAL CDR AVG SINCE CUT-OFF
[GRAPH] [GRAPH]
SDA AVG SINCE CUT-OFF BY GROUPS TOTAL SDA AVG SINCE CUT-OFF
[GRAPH] [GRAPH]
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 25 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
REALIZED LOSS DETAIL REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUMMARY LOAN GROUP
- -------------------------------------------------------- -----------------------------------------------------
<S> <C>
Total Loan Count = 6 Loan Group 1 = Fixed Group
Total Original Principal Balance = 340,350.00 Loan Group 2 = Adjustable 1 Group
Total Prior Principal Balance = 339,934.74 Loan Group 3 = Adjustable 2 Group
Total Realized Loss Amount = 120,914.86 Loan Group 3 = Adjustable 2 Group
Total Net Liquidation Proceeds = 219,019.88
- -------------------------------------------------------- -----------------------------------------------------
</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>
7649525 1 REO 63,750.00 63,750.00 - 11.550% TN - 85.00% 360 Jul-26-99
9523448 1 20,800.00 20,800.00 - 14.920% PA - 65.00% 360 Aug-30-99
9525637 1 33,600.00 33,590.43 - 12.020% MI - 70.00% 360 Aug-23-99
9533273 2 FLC 53,000.00 52,988.91 - 13.390% CA - 61.63% 360 Jul-21-99
9535667 2 135,450.00 135,093.36 - 10.880% FL - 90.00% 360 Jul-26-99
9560238 2 33,750.00 33,712.04 - 10.810% NY - 75.00% 360 Aug-23-99
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 26 of 27
<PAGE>
AAMES 1999-2
MORTGAGE PASS-THROUGH CERTIFICATES
TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT FOR MAY 15, 2000 DISTRIBUTION
- --------------------------------------------------------------------------------
TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TRIGGER EVENTS ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Step Down Cumulative Loss Test No No No No
Step Down Rolling Delinquency Test Yes Yes Yes Yes
Step Down Rolling Loss Test Yes Yes Yes Yes
Step Down Tigger No No No No
Step Up Cumulative Loss Test No No No No
Step Up Rolling Delinquency Test No No No No
Step Up Rolling Loss Test No No No No
Step Up Tigger No No No No
Step Up Spread Squeeze Test No No No No
Spread Squeeze Condition No No No No
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
ADJUSTABLE RATE CERTIFICATE INFORMATION ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
ADDITIONAL INFORMATION ADJUSTABLE 2 ADJUSTABLE 1 FIXED TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Supplamental Interest Amounts 0.00 0.00 0.00 0.00
Supplamental Interest Amounts Unpaid 0.00 0.00 0.00 0.00
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 27 of 27
