Aames Capital 8-K Other events

Aames 2002-1

Mortgage Pass-Through Certificates

Series 2002-1

Prepayment Report for May 28, 2002 Distribution

Prepayment Report - Voluntary Prepayments

VOLUNTARY PREPAYMENTS		TOTAL
	Current
	Number of Paid in Full Loans	-
	Number of Repurchased Loans	-
	Total Number of Loans Prepaid in Full	-
	Paid in Full Balance	327,083.59
	Repurchased Loans Balance	166,000.00
	Curtailments Amount	-
	Total Prepayment Amount	493,083.59
	Cumulative
	Number of Paid in Full Loans	1
	Number of Repurchased Loans	1
	Total Number of Loans Prepaid in Full	2
	Paid in Full Balance	457,083.59
	Repurchased Loans Balance	205,733.66
	Curtailments Amount	-
	Total Prepayment Amount	662,817.25
SPACE INTENTIONALLY LEFT BLANK

Total Prepayments by Groups (in thousands of dollars) Total Prepayments (in thousands of dollars)

Page 15 of 23 © COPYRIGHT 2002 Deutsche Bank

Aames 2002-1

Mortgage Pass-Through Certificates

Series 2002-1

Prepayment Report for May 28, 2002 Distribution

Prepayment Report - Voluntary Prepayments

VOLUNTARY PREPAYMENT RATES		TOTAL
	SMM	0.28%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off	0.21%
	CPR	3.34%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off	2.43%
	PSA
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation	1211.74%

CPR by Groups Total CPR

PSA by Groups Total PSA

Page 16 of 23 © COPYRIGHT 2002 Deutsche Bank

Aames 2002-1

Mortgage Pass-Through Certificates

Series 2002-1

Prepayment Report for May 28, 2002 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 Avg 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.

Page 17 of 23 © COPYRIGHT 2002 Deutsche Bank