A method to fabricate a tunneling magnetoresistive (TMR) read transducer is disclosed. An insulative layer is deposited on a wafer substrate, and a bottom lead is deposited over the insulative layer. A laminated TMR layer, having a plurality of laminates, is deposited over the bottom lead. A TMR sensor having a stripe height is defined in the TMR layer, and a parallel resistor and first and second shunt resistors are also defined in the TMR layer. A top lead is deposited over the TMR sensor. The parallel resistor is electrically connected to the bottom lead and to the top lead. The first shunt resistor is electrically connected to the bottom lead and the wafer substrate, and the second shunt resistor is electrically connected to the top lead and the wafer substrate.