Company: RWT-PA
Filing Date: 2025-01-16
Form Type: 424B5
Source: 0001104659-25-004099
Chunk: 76

Company: REDWOOD TRUST INC
Filing Date: 2025-01-16
Form: 424B5
Chunk 76
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 series to be redeemed.

Neither DTC nor Cede &
Co. (or such other DTC nominee) will consent or vote with respect to the securities. Under its usual procedures, DTC will mail an omnibus
proxy to us as soon as possible after the record date. The omnibus proxy assigns the consenting or voting rights of Cede & Co.
to those direct participants to whose accounts the securities of such series are credited on the record date, identified in a listing
attached to the omnibus proxy.

So long as securities are
in book-entry form, we will make payments on those securities to the depositary or its nominee, as the registered owner of such securities,
by wire transfer of immediately available funds. If securities are issued in definitive certificated form under the limited circumstances
described below, we will have the option of making payments by check mailed to the addresses of the persons entitled to payment or by
wire transfer to bank accounts in the United States designated in writing to the applicable trustee or other designated party at least
15 days before the applicable payment date by the persons entitled to payment, unless a shorter period is satisfactory to the applicable
trustee or other designated party.

Redemption proceeds, distributions
and dividend payments on the securities will be made to Cede & Co., or such other nominee as may be requested by an authorized
representative of DTC. DTC’s practice is to credit direct participants’ accounts upon DTC’s receipt of funds and corresponding
detail information from us on the payment date in accordance with their respective holdings shown on DTC records. Payments by participants
to beneficial owners will be governed by standing instructions and customary practices, as is the case with securities held for the account
of customers in bearer form or registered in “street name.” Those payments will be the responsibility of participants and
not of DTC or us, subject to any statutory or regulatory requirements in effect from time to time. Payment of redemption proceeds, distributions
and dividend payments to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC, is our
responsibility, disbursement of payments to direct participants is the responsibility of DTC, and disbursement of payments to the beneficial
owners is the responsibility of direct and indirect participants.

Except under the limited
circumstances described below, purchasers of securities will not be entitled to have securities registered in their names and will not
receive physical delivery of securities. Accordingly, each beneficial owner must rely on the procedures of DTC