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 Post-Effective Amendment No. 1 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 19,
2010