Company: RWT-PA
Filing Date: 2025-01-16
Form Type: 424B5
Source: 0001104659-25-004099
Chunk: 48

Company: REDWOOD TRUST INC
Filing Date: 2025-01-16
Form: 424B5
Chunk 48
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us supplement,
except to the extent superseded by information contained herein or by information contained in documents filed with or furnished to the
SEC after the date of this prospectus supplement. This prospectus supplement and the accompanying prospectus incorporate by reference
the documents set forth below that have been previously filed with the SEC:

| · | all                                                                                          
 documents filed by Redwood Trust, Inc. with the SEC pursuant to Sections 13(a), 13(c),       
 14, or 15(d) of the Securities Exchange Act of 1934, as amended, after the date of this      
 prospectus and prior to the termination of the offering (but excluding any items, documents, 
 or portions of items or documents which are deemed “furnished” and not filed                 
 with the SEC).                                                                               |

We will provide
to each person, including any beneficial owner, to whom a prospectus supplement and accompanying prospectus is delivered, without charge
upon written or oral request, a copy of any or all of the documents that are incorporated by reference into this prospectus supplement
and the accompanying prospectus but not delivered with this prospectus supplement and accompanying prospectus, including exhibits which
are specifically incorporated by reference into such documents. Requests should be directed to Redwood Trust, Inc., Attention: Investor
Relations, at One Belvedere Place, Suite 300, Mill Valley, California 94941, telephone: (866) 269-4976.

<div align='center'>S-29</div>

PROSPECTUS

<div align='center'>Redwood Trust, Inc.
Debt Securities
Common Stock
Preferred Stock
Warrants
Stockholder Rights
Units</div>

We may from time to time
offer, in one or more classes or series, separately or together, and in amounts, at prices and on terms to be set forth in one or more
supplements to this prospectus, the following securities:

| · | debt securities,                                                
 which may consist of debentures, notes, or other types of debt; |

| · | shares of our 
 common stock; |

| · | shares of our    
 preferred stock; |

| · | warrants to                                             
 purchase shares of our common stock or preferred stock; |

| · | rights issuable                                                                                                                   
 to our stockholders to purchase shares of our common stock or preferred stock, to purchase warrants exercisable for shares of our 
 common stock or preferred stock, or to purchase units consisting of two or more of the foregoing; and