Exhibit
23.2
Consent
of Independent Registered Public Accounting Firm
We consent to the reference to our firm
under the caption “Experts” and to the use of our report dated March 4, 2010, in
this Amendment No. 2 to the Registration Statement (Form S-11 No. 333-165556)
and related Prospectus of Two Harbors Investment Corp. for the registration of
an offering of up to $150,000,000 of its common stock.
/s/ Ernst
& Young LLP
Minneapolis,
MN
April 12,
2010