Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 137

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 137
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 statement contained in this prospectus or a previously filed document incorporated by reference will be deemed to be modified or
superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or a subsequently filed document
incorporated by reference modifies or replaces that statement.

This prospectus and any accompanying
prospectus supplement incorporate by reference the documents set forth below that have previously been 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 Exchange Act 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, including our Compensation Committee report and performance    
 graph or any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K or related exhibits furnished pursuant to Item      
 9.01 of Form 8-K).                                                                                                                |

You may request a free copy
of any of the documents incorporated by reference in this prospectus by writing or telephoning us at the following address:

<div align='center'>Redwood Trust, Inc.
Attn: Investor Relations
One Belvedere Place, Suite 300
Mill Valley, CA 94941
(866) 269-4976</div>

Exhibits to the filings will
not be sent, however, unless those exhibits have specifically been incorporated by reference in this prospectus or any accompanying prospectus
supplement.

<div align='center'>54

WHERE
YOU CAN FIND MORE INFORMATION</div>

We file reports, proxy statements
and other information with the SEC. The SEC maintains a website that contains reports, proxy and information statements and other information
about issuers, such as us, who file electronically with the SEC. The address of that website is http://www.sec.gov.

Our website address is http://www.redwoodtrust.com.
The information contained on our website, however, is not, and should not be deemed to be, a part of this prospectus or any other report
or filing filed with the SEC.

This prospectus and any prospectus
supplement are part of a registration statement that we filed with the SEC and do not contain all of the information in the registration
statement. We have omitted certain parts of the registration statement, as permitted by