Aames 2002-1

Mortgage Pass-Through Certificates

REMIC I Series 2002-1

Certificate Payment Report for May 28, 2002 Distribution

	Distribution in Dollars - Current Period
			Prior						Current
	Class	Original	Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value	Balance	Interest	Principal	Distribution	Losses	Interest	Balance
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

II-A-1		655,000.00	648,534.09	4,737.14	11,026.66	15,763.80	-	-	637,507.43
II-A-2		500,000.00	500,000.00	3,652.19	-	3,652.19	-	-	500,000.00
II-A-3		215,000.00	215,000.00	1,570.44	-	1,570.44	-	-	215,000.00
II-A-4		117,500.00	117,500.00	858.26	-	858.26	-	-	117,500.00
II-M-1		113,750.00	113,750.00	830.87	-	830.87	-	-	113,750.00
II-M-2		78,750.00	78,750.00	575.22	-	575.22	-	-	78,750.00
II-B		70,000.00	70,000.00	511.31	-	511.31	-	-	70,000.00
II-Q		173,250,000.00	172,966,574.95	1,263,412.91	597,370.81	1,860,783.72	-	4,992.61	172,374,196.75
R-II		-	-	-	-	-	-	-	-



Total		175,000,000.00	174,710,109.04	1,276,148.34	608,397.47	1,884,545.81	-	4,992.61	174,106,704.18

	Interest Accrual Detail			Current Period Factor Information per $1,000 of Original Face
					Orig. Principal	Prior				Current
	Period	Period			(with Notional)	Principal			Total	Principal
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
						(1)	(2)	(3)	(4)=(2)+(3)	(5)

II-A-1			A-30/360		655,000.00	990.128382	7.232275	16.834595	24.066870	973.293786
II-A-2			A-30/360		500,000.00	1,000.000000	7.304380	-	7.304380	1,000.000000
II-A-3			A-30/360		215,000.00	1,000.000000	7.304372	-	7.304372	1,000.000000
II-A-4			A-30/360		117,500.00	1,000.000000	7.304340	-	7.304340	1,000.000000
II-M-1			A-30/360		113,750.00	1,000.000000	7.304352	-	7.304352	1,000.000000
II-M-2			A-30/360		78,750.00	1,000.000000	7.304381	-	7.304381	1,000.000000
II-B			A-30/360		70,000.00	1,000.000000	7.304429	-	7.304429	1,000.000000
II-Q			A-30/360		173,250,000.00	998.364069	7.292427	3.448028	10.740454	994.944859
R-II			A-30/360		-	-	-	-	-	-

Page 2 of 23

Aames 2002-1

Mortgage Pass-Through Certificates

REMIC I Series 2002-1

Certificate Payment Report for May 28, 2002 Distribution

	Distribution in Dollars - to Date
									Current
	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

II-A-1	655,000.00	8,987.71	8,559.61	8,932.96	17,492.57	26,480.28	-	-	637,507.43
II-A-2	500,000.00	6,896.90	-	-	-	6,896.90	-	-	500,000.00
II-A-3	215,000.00	2,965.67	-	-	-	2,965.67	-	-	215,000.00
II-A-4	117,500.00	1,620.77	-	-	-	1,620.77	-	-	117,500.00
II-M-1	113,750.00	1,569.04	-	-	-	1,569.04	-	-	113,750.00
II-M-2	78,750.00	1,086.26	-	-	-	1,086.26	-	-	78,750.00
II-B	70,000.00	965.57	-	-	-	965.57	-	-	70,000.00
II-Q	173,250,000.00	2,387,705.32	-	884,362.86	884,362.86	3,272,068.18	-	8,559.61	172,374,196.75
R-II	-	-	-	-	-	-	-	-	-













Total	175,000,000.00	2,411,797.24	8,559.61	893,295.82	901,855.43	3,313,652.67	-	8,559.61	174,106,704.18

Page 3 of 23

Aames 2002-1

Mortgage Pass-Through Certificates

REMIC II Series 2002-1

Certificate Payment Report for May 28, 2002 Distribution

	Distribution in Dollars - Current Period
			Prior						Current
	Class	Original	Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value	Balance	Interest	Principal	Distribution	Losses	Interest	Balance
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

A-1		65,500,000.00	64,853,408.98	206,882.37	1,102,666.33	1,309,548.70	-	-	63,750,742.65
A-2		50,000,000.00	50,000,000.00	224,083.33	-	224,083.33	-	-	50,000,000.00
A-3		21,500,000.00	21,500,000.00	123,553.33	-	123,553.33	-	-	21,500,000.00
A-4		11,750,000.00	11,750,000.00	62,754.79	-	62,754.79	-	-	11,750,000.00
M-1		11,375,000.00	11,375,000.00	66,088.75	-	66,088.75	-	-	11,375,000.00
M-2		7,875,000.00	7,875,000.00	48,017.81	-	48,017.81	-	-	7,875,000.00
B-1		7,000,000.00	7,000,000.00	45,505.83	-	45,505.83	-	-	7,000,000.00
C-1		-	356,700.04	-	-	-	-	499,262.11	855,962.15
R-1		-	-	-	-	-	-	-	-




Total		175,000,000.00	174,710,109.02	776,886.21	1,102,666.33	1,879,552.54	-	499,262.11	174,106,704.80

	Interest Accrual Detail			Current Period Factor Information per $1,000 of Original Face
					Orig. Principal	Prior				Current
	Period	Period			(with Notional)	Principal			Total	Principal
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
						(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1			A-30/360	00253CHN0	65,500,000.00	990.128381	3.158509	16.834601	19.993110	973.293781
A-2			A-30/360	00253CHP5	50,000,000.00	1,000.000000	4.481667	-	4.481667	1,000.000000
A-3			A-30/360	00253CHQ3	21,500,000.00	1,000.000000	5.746667	-	5.746667	1,000.000000
A-4			A-30/360	00253CHR1	11,750,000.00	1,000.000000	5.340833	-	5.340833	1,000.000000
M-1			A-30/360	00253CHS9	11,375,000.00	1,000.000000	5.810000	-	5.810000	1,000.000000
M-2			A-30/360	00253CHT7	7,875,000.00	1,000.000000	6.097500	-	6.097500	1,000.000000
B-1			A-30/360	00253CHU4	7,000,000.00	1,000.000000	6.500833	-	6.500833	1,000.000000
C-1			A-30/360	AA020102C	-	-	-	-	-	-
R-1			A-30/360	AA020102R	-	-	-	-	-	-

Page 4 of 23

Aames 2002-1

Mortgage Pass-Through Certificates

REMIC II Series 2002-1

Certificate Payment Report for May 28, 2002 Distribution

	Distribution in Dollars - to Date
									Current
	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

A-1	65,500,000.00	415,827.37	855,961.53	893,295.82	1,749,257.35	2,165,084.72	-	-	63,750,742.65
A-2	50,000,000.00	448,166.66	-	-	-	448,166.66	-	-	50,000,000.00
A-3	21,500,000.00	247,106.66	-	-	-	247,106.66	-	-	21,500,000.00
A-4	11,750,000.00	125,509.58	-	-	-	125,509.58	-	-	11,750,000.00
M-1	11,375,000.00	132,177.50	-	-	-	132,177.50	-	-	11,375,000.00
M-2	7,875,000.00	96,035.62	-	-	-	96,035.62	-	-	7,875,000.00
B-1	7,000,000.00	91,011.66	-	-	-	91,011.66	-	-	7,000,000.00
C-1	-	-	-	-	-	-	-	855,962.15	855,962.15
R-1	-	-	-	-	-	-	-	-	-




Total	175,000,000.00	1,555,835.05	855,961.53	893,295.82	1,749,257.35	3,305,092.40	-	855,962.15	174,106,704.80

Page 5 of 23

AAMES CAPITAL CORP 8-K