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                                                                    EXHIBIT 23.2


                        CONSENT OF INDEPENDENT AUDITORS


The Board of Directors
American Residential Holdings, Inc.

We consent to incorporation by reference in the registration statements (No.
333-48005 and No. 333-61529) on Form S-8 of American Residential Investment
Trust, Inc. of our report dated January 15, 1999, relating to the balance sheet
of American Residential Holdings, Inc. as of December 31, 1998, and the related
statements of operations, stockholders' equity and cash flows for the period
from January 28, 1998 (inception) through December 31, 1998, which report
appears in the December 31, 1998, annual report on Form 10-K of American
Residential Investment Trust, Inc.



                                   KPMG LLP

San Diego, California
March 22, 1999