Exhibit 23.2
CONSENT OF INDEPENDENT AUDITORS
We hereby consent to the incorporation by reference in this Post-Effective
Amendment No. 2 to Form S-3D Registration Statement of our report on the 1998
and 1997 consolidated financial statements, dated January 20, 1999, which
appears on Page F-4 in the Annual Report on Form 10-K of Thornburg Mortgage,
Inc. and subsidiaries for the year ended December 31, 1999. We also consent to
the reference to our Firm under the caption "Experts" in the aforementioned
Registration Statement.
/s/ McGladrey & Pullen, LLP
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McGladrey & Pullen, LLP
November 8, 2000
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