Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 6

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 6
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 result from our actions or omissions or from those of 
 others;                                                                                   |

| · | our                                                                                       
 failure to maintain appropriate internal controls over financial reporting and disclosure 
 controls and procedures;                                                                  |

| · | our                                           
 risk management efforts may not be effective; |

| · | we                                      
 could be harmed by misconduct or fraud; |

| · | inadvertent                                                                    
 errors, system failures or cybersecurity incidents could disrupt our business; |

| · | accounting                                                                           
 rules related to certain of our transactions and asset valuations are highly complex 
 and involve significant judgment and assumptions;                                    |

| · | the                                                                                               
 future realization of our deferred tax assets is uncertain, and the amount of valuation allowance 
 we may apply against our deferred tax assets may change materially in future periods;             |

| · | the                                                                                            
 impact of changes to U.S. federal income tax laws on the U.S. housing market, mortgage finance 
 markets, and our business;                                                                     |

| · | our                                                                                       
 failure to comply with applicable laws and regulation, including our ability to obtain or 
 maintain governmental licenses;                                                           |

| · | our                                                        
 ability to maintain our status as a REIT for tax purposes; |

| · | limitations                                                                               
 imposed on our business due to our REIT status and our status as exempt from registration 
 under the Investment Company Act of 1940;                                                 |

| · | our                                                                                       
 stock and the notes may experience price declines, volatility, and poor liquidity, and we 
 may reduce our dividends;                                                                 |

| · | decisions                                          
 about raising, managing, and distributing capital; |

| · | dividend                                                                 
 distributions and the timing and character of such dividends may change; |

| · | limited                                                                                    
 number of institutional shareholders own a significant percentage of our common stock; and |

| · | other                                                            
 factors not yet identified, including broad market fluctuations. |

<div align='center'>S-vi

SUMMARY</div>

This summary highlights selected information appearing elsewhere or incorporated by reference in this prospectus supplement and the accompanying prospectus and may not contain all of the information that is important to you and is qualified in its entirety by the more detailed information appearing elsewhere or incorporated by reference in this prospectus supplement. This prospectus supplement and the accompanying prospectus include information about the notes we are offering as well as information regarding our business and financial data. You should read this prospectus supplement and the accompanying prospectus, including information incorporated by reference, and any free writing prospectus that we have