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 Amendment No 2. to the Registration
Statement (Form S-11 No. 333-163034) and related prospectus of Two Harbors
Investment Corp. for the registration of 9,906,918 warrants and 9,906,918 shares
of its common stock that may be issued upon exercise of the
warrants.
/s/
Ernst & Young LLP
Minneapolis,
MN
April 30,
2010