UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

~~September~~June 230, 2004 Date of Report (Date of earliest event reported)

AAMES FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

1-13660 (Commission File Number)	95-340340 (IRS employer identification no.)

350 South Grand Ave, 43^rd Floor
Los Angeles, CA 90071
(Address of principal executive offices)(Zip Code)

(323) 210-5000
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 28.0201 ~~Results~~Other Events Aames Financial Corporation, on behalf of ~~Operations~~its ~~and~~wholly ~~Financial~~owned ~~Condition. Reference~~subsidiary isAames ~~made~~Capital toCorporation, is releasing the ~~press~~following ~~release~~information ofconcerning ~~the~~delinquency ~~Registrant~~and ~~issued~~loss onin ~~September 2,~~its ~~2004,~~loan ~~which~~servicing ~~contains~~portfolio regarding its mortgage-backed securities. Aames Financial Corporation is releasing this information ~~meeting~~in response to inquiries received from members of the ~~requirements~~financial community. A copy of this ~~Item~~information ~~2.02 and~~with respect to adjustable rate loans is ~~incorporated~~attached ~~herein~~to bythis ~~reference~~Form 8-K as Exhibit 99.1 Aand a copy of ~~the~~this ~~press~~information ~~release~~with respect to fixed rate loans is attached to this Form 8-K as Exhibit 99.12.

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements: None (b) Pro forma financial informtaion: None (c) Exhibits: 99.1 ~~Press~~Information ~~release~~concerning ~~dated~~delinquency ~~September~~and loss in the loan servicing portfolio of Aames Capital Corporation (Adjustable Rate Loans). 99.2, ~~2004~~Information concerning delinquency and loss in the loan servicing portfolio of Aames Capital Corporation (Fixed Rate Loans).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AAMES FINANCIAL CORPORATION
By:	/s/ Patrick D. Grosso
	Patrick D. Grosso
	Assistant Secretary
	Dated: September 2, 2004
	Dated: September 23, 2004

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