Server: Netscape-Communications/1.1 Date: Thursday, 18-Dec-97 08:25:06 GMT Last-modified: Friday, 12-Dec-97 20:44:32 GMT Content-length: 5180 Content-type: text/html Aames Financial Corporation / About Aames Financial


 



 
 

Aames Financial Corporation is a leader in the field of subprime home equity lending where it serves borrowers whose needs are not being met by traditional mortgage lenders. The Company makes it possible for homeowners with less-than-perfect credit histories or nonconforming financial situations to access the financing they need.

The Company originates and purchases loans through three primary production channels ­ retail, broker and correspondent. On June 30, 1997, Aames Home Loan, the Company's retail arm founded in 1954, operated 56 offices serving 24 states. One Stop Mortgage, the Company's broker subsidiary, operated 37 offices serving wholesale clients in 33 states. The Company's correspondent division buys funded loans from mortgage bankers across the nation.

As a mortgage banker, Aames sells the loans it originates, as well as those purchased from third party originators, to institutional investors in the secondary market either through securitizations or whole loan sales.

As a loan servicer, Aames provides the specialized skills, systems and experience necessary for success in the subprime market. The Company retains the servicing rights to substantially all of the loans it originates or purchases and had a servicing portfolio of $3.17 billion at year end.


 
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