Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 46

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 46
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 CERTIFIED SOPHISTICATED INVESTORS, AS DEFINED IN ARTICLE 50(1) OF THE FPO; (5) PERSONS
WHO ARE SELF-CERTIFIED SOPHISTICATED INVESTORS, AS DEFINED IN ARTICLE 50A(1) OF THE FPO (AND HAVING COMPLETED AND SIGNED A
STATEMENT TO THAT EFFECT IN ACCORDANCE THE FPO); OR (6) PERSONS TO WHOM THIS PROSPECTUS SUPPLEMENT MAY OTHERWISE LAWFULLY BE
COMMUNICATED IN THE UNITED KINGDOM.

IF AN INVESTOR IS IN DOUBT ABOUT THE INVESTMENT
TO WHICH THIS PROMOTION RELATES, THEY SHOULD CONSULT AN AUTHORISED PERSON SPECIALISING IN ADVISING ON INVESTMENTS OF THE KIND IN QUESTION.

NO PROSPECTUS IS REQUIRED UNDER SECTION 85
OF FSMA AND ANY OFFER WHICH MAY BE MADE OF THE NOTE HOLDERS WILL BE: (I) LIMITED TO FEWER THAN 150 NATURAL OR LEGAL PERSONS
IN THE U.K., OTHER THAN QUALIFIED INVESTORS (WITHIN THE MEANING OF SECTION 86 OF FSMA); (II) MADE ON THE BASIS THAT THE MINIMUM
CONSIDERATION PAYABLE BY ANY NOTE HOLDER WILL NOT BE LESS THAN EUR 100,000; OR (III) UPON AN ALTERNATIVE LAWFUL EXEMPTION TO SECTION 85
OF FSMA.

<div align='center'>S-27

LEGAL MATTERS</div>

Certain legal
matters relating to this offering will be passed upon for us by Latham & Watkins LLP. Clifford Chance US LLP is acting as counsel
to the underwriters in connection with certain legal matters relating to the notes being offered hereby. Venable LLP will issue an opinion
to us regarding certain matters of Maryland law, including the validity of the securities offered hereby.

<div align='center'>EXPERTS</div>

The audited
consolidated financial statements of Redwood Trust, Inc. and management’s assessment of the effectiveness of internal control
over financial reporting incorporated by reference in this prospectus supplement and elsewhere in the registration statement have been
so incorporated by reference in reliance upon the reports of Grant Thornton LLP, independent registered public accountants, upon the
authority of said firm as experts in accounting and auditing.

<div align='center'>WHERE YOU CAN OBTAIN MORE INFORMATION</div>

This prospectus supplement and the accompanying prospectus are part of the automatic shelf-registration