Aames Capital 8-K Current report

Aames 2001-1

Mortgage Pass-Through Certificates

Prepayment Report for May 25, 2001 Distribution

Prepayment Report - Voluntary Prepayments

VOLUNTARY PREPAYMENTS		GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans	-	17	17
	Number of Repurchased Loans	-	-	-
	Total Number of Loans Prepaid in Full	-	17	17
	Paid in Full Balance	-	946,871.13	946,871.13
	Repurchased Loans Balance	-	-	-
	Curtailments Amount	-	-	-
	Total Prepayment Amount	-	946,871.13	946,871.13
	Cumulative
	Number of Paid in Full Loans	-	20	20
	Number of Repurchased Loans	-	-	-
	Total Number of Loans Prepaid in Full	-	20	20
	Paid in Full Balance	-	1,072,441.08	1,072,441.08
	Repurchased Loans Balance	-	-	-
	Curtailments Amount	-	-	-
	Total Prepayment Amount	-	1,072,441.08	1,072,441.08
SPACE INTENTIONALLY LEFT BLANK

Total Prepayments by Groups (in thousands of dollars)

Total Prepayments (in thousands of dollars)

Page 19 of 27 © COPYRIGHT 2001 Deutsche Bank

Aames 2001-1

Mortgage Pass-Through Certificates

Prepayment Report for May 25, 2001 Distribution

Prepayment Report - Voluntary Prepayments

VOLUNTARY PREPAYMENT RATES		GROUP 2	GROUP 1	TOTAL
	SMM	0.00%	0.80%	0.63%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off	0.00%	0.45%	0.36%
	CPR	0.00%	9.18%	7.33%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off	0.00%	5.30%	4.22%
	PSA	0.00%	1541.96%	1226.19%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation	0.00%	1069.96%	846.70%

CPR by Groups

Total CPR

PSA by Groups

Total PSA

Page 20 of 27 © COPYRIGHT 2001 Deutsche Bank

Aames 2001-1

Mortgage Pass-Through Certificates

Prepayment Report for May 25, 2001 Distribution

Prepayment Report - Voluntary Prepayments

CPR Avg since Cut-Off by Groups

Total CPR Avg since Cut-Off

PSA Avg since Cut-Off by Groups

Total PSA since Cut-Off

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.

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