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AAMES COMPLETES FIRST INVESTMENT MORTGAGE POOL VALUED AT $11 MILLION

AAMES COMPLETES FIRST INVESTMENT MORTGAGE POOL VALUED AT $11 MILLION
    LOS ANGELES, June 29 /PRNewswire/ -- Aames Financial Corp. (NASDAQ: AAMS) reported today that its wholly owned subsidiary, Aames Home Loan, has completed the private placement of $11 million principal amount of series 1992-1 class A Home Equity Mortgage Loan Pass-Through Certificates, that evidence interest in a pool of more than 300 mortgage-backed loans.
    Oppenheimer & Co. Inc. acted as placement agent to the company in this transaction.
    Insured by Financial Guaranty Insurance Co. (FGIC), a wholly owned subsidiary of General Electric Capital Corp., the certificates have been rated AAA by Standard & Poor's and Fitch Investors Service Inc. and Aaa by Moody.
    Gary K. Judis, Aames' chief executive officer, said, "This sale will allow Aames to book the fees generated in originating the loans contained in the pool.  In addition, we believe our investment pool program will help increase the company's profitability by providing us with increased liquidity to expand our loan production.
    "Furthermore, the large volume of loans in a pool reduces expenses and enhances revenues," he added.
    Aames Home Loan has arranged equity-backed first and junior trust deed financing since 1954.  From the Los Angeles headquarters, the company operates 21 offices throughout California and currently services a loan portfolio exceeding $200 million.
    -0-                     6/29/92
    /CONTACT:  Gregory J. Witherspoon of Aames Financial, 213-351-6100; or Roger S. Pondel or Keith H. Karpe of Pondel Parsons & Wilkinson, 310-207-9300, for Aames Financial/
    (AAMS) CO:  Aames Financial Corp. ST:  California IN:  FIN SU: EH-KJ -- LA005 -- 4537 06/29/92 09:07 EDT
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Publication:PR Newswire
Date:Jun 29, 1992
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