SECURITIES AND EXCHANGE COMMISSION

                              Washington, D.C.  20549
                           ___________________________

                                    Form 8-K

                                  CURRENT REPORT
                        PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

          Date of Report (Date of earliest event reported): July 27, 2000


                            AAMES FINANCIAL CORPORATION
              (Exact name of Registrant as Specified in Its Charter)


       Delaware                     0-19604            95-340340
----------------------------     ------------       ------------------
(State or Other Jurisdiction     (Commission         (IRS Employer
    of Incorporation)            File Number)       Identification No.)



                         350 South Grand Avenue, 52nd Floor
                           Los Angeles, California 90071
                      (Address of Principal Executive Offices)



                                   (323) 210-5000
                ----------------------------------------------------
                (Registrant's Telephone Number, Including Area Code)


                                        NA
            -------------------------------------------------------------
            (Former Name or Former Address, if Changed Since Last Report)



ITEM 5.     OTHER EVENTS

     Reference is made to the press release of Registrant issued on July 27,
2000 which contains information meeting the requirements of this Item 5 and
is incorporated herein by this reference.  A copy of the press releases are
attached to this Form 8-K as Exhibit 99.1.

ITEM 7.     FINANCIAL STATEMENTS AND EXHIBITS

           
     (c)           EXHIBITS

     99.1          Press release issued July 27, 2000.


     





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                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.


                                      AAMES FINANCIAL CORPORATION





Dated: July 31, 2000              By: /s/ Ralph W. Flick
                                      ------------------------
                                          Ralph W. Flick
                                          Assistant Secretary



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                                 EXHIBIT INDEX




Exhibit No.                 Description of Exhibit
-----------                 ----------------------
                    
99.1                   Press release issued July 27, 2000.









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