Exhibit 23.2




INDEPENDENT AUDITORS' CONSENT


We consent to the incorporation by reference in this Registration Statement of
American Mortgage Acceptance Company on Form S-3 of our report relating to the
consolidated financial statements of ARCap Investors, L.L.C. as of December 31,
2001 and for the year then ended, dated January 31, 2002, and of our report
relating to the consolidated financial statements of ARCap Investors, L.L.C. as
of December 31, 2000 and for the year then ended, dated January 22, 2001, both
appearing in the Annual Report on Form 10-K of American Mortgage Acceptance
Company for the year ended December 31, 2001. We also consent to the reference
to us under the heading "Experts" in such Registration Statement.


/s/ DELOITTE & TOUCHE LLP

Dallas, Texas
May 2, 2002