EXHIBIT 21.1

SUBSIDIARIES OF THE REGISTRANT

The following is a listing of the subsidiaries of Anworth Mortgage Asset Corporation^*:

Subsidiary	Jurisdiction of Incorporation
Belvedere Trust Mortgage Corporation		Maryland
BT Management Holding Corporation		Delaware
BT Management Company, L.L.C.		Delaware
Belvedere Trust Finance Corporation		Delaware
BT Residential Funding Corporation		Delaware
Belvedere Trust Secured Assets Corporation		Delaware
BellaVista Finance Corporation		Delaware
BellaVista Funding Corporation		Delaware

* The assets of each of the foregoing subsidiaries have been assigned to a third party for the benefit of creditors.