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AAMES TO PLACE $15 MILLION MORTGAGE POOL WITH ADVANTA MORTGAGE CORP. USA

 LOS ANGELES, March 3 /PRNewswire/ -- Aames Financial Corp. (NASDAQ: AAMS) today announced that its subsidiary, Aames Home Loan, will sell $15 million of home mortgages to ADVANTA Mortgage Corp. USA, a wholly owned subsidiary of ADVANTA (NASDAQ: ADVNA, ADVNB).
 The sale, anticipated to be March 9, 1993, marks the fourth pool of mortgages Aames has securitized, and the company's second transaction with ADVANTA. The first three pools, totaling $32 million, were completed in calendar year 1992 and placed with various institutional investors.
 Aames Chairman and Chief Executive Officer Gary K. Judis, said: "Securitized mortgage pools continue to benefit Aames' ability to increase loan production and profitability. We are pleased to be working again with ADVANTA whose capacity to form and place these investment vehicles is an enhancement to our own resources."
 Certificates in the Advanta Home Equity Loan Trust 1993-1 will be sold in the public market by Merrill Lynch and Prudential Securities. They are expected to be rated "AAA" by Standard & Poor's and "Aaa" by Moody's and to be insured by Municipal Bond Investors Assurance Corp.
 Aames Financial Corp.'s subsidiary, Aames Home Loan, has arranged equity-backed first and junior trust deed financing since 1954. From its Los Angeles headquarters, the company operates 24 offices throughout California and currently services a loan portfolio exceeding $244 million.
 ADVANTA, a highly focused direct marketer of select consumer financial services, managed assets of $4.5 billion at Dec. 31, 1992. The company principally originates and services credit cards and home equity loans nationwide. Other businesses include equipment leasing, credit insurance and deposit products.
 -0- 3/3/93
 /CONTACT: Gregory J. Witherspoon of Aames Financial, 213-351-6100; or Roger S. Pondel or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Aames Financial/
 (AAMS ADVNA ADVNB)


CO: Aames Financial Corp.; Aames Home Loan; ADVANTA Mortgage Corp.
 USA ST: California IN: FIN SU:


JL-JB -- LA011 -- 2311 03/03/93 09:06 EST
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Publication:PR Newswire
Date:Mar 3, 1993
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