The independent members of Anworth Mortgage Asset Corp.'s board has appointed JosephMcAdams as president of the company.

McAdams has been a director of the company since June 2002. Heis also a member and the chief investment officer of Anworth Management LLC, thecompany's external manager.

Lloyd McAdams, who previously served as president, will continueto serve as the chairman of the board and CEO of Anworth Mortgage Asset.