<PAGE>
EXHIBIT 99.3
Report of Independent Accountants on Management's Assertion on Compliance
with the Minimum Servicing Standards Set Forth in the
UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
The Board of Directors
Aames Financial Corporation
We have examined management's assertion, included in the accompanying report
titled REPORT OF MANAGEMENT, that Aames Financial Corporation (the Company)
complied with the minimum servicing standards set forth in the Mortgage Bankers
Association of America's UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
(USAP) during the year ended June 30, 2000. Management is responsible for the
Company's compliance with those requirements. Our responsibility is to express
an opinion on management's assertions about the Company's compliance based on
our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with those
requirements and performing such other procedures as we considered necessary in
the circumstances. We believe that our examination provides a reasonable basis
for our opinion. Our examination does not provide a legal determination on the
Company's compliance with specified requirements.
In our opinion, management's assertion that the Company complied with the
aforementioned requirements during the year ended June 30, 2000, is fairly
stated, in all material respects.
August 24, 2000
