Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 2

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 2
---
54 |
| Where                                                     
 You Can Find More Information                             | 55 |

<div align='center'>S-iii

ABOUT THIS PROSPECTUS SUPPLEMENT</div>

You should read this prospectus supplement, the accompanying prospectus, the documents incorporated by reference in this prospectus supplement and the accompanying prospectus, and any free writing prospectus that we have authorized for use in connection with this offering when making your investment decision. You should also read and consider the information in the documents we have referred you to in the section of this prospectus supplement entitled “Where You Can Find More Information.” This prospectus supplement and the accompanying prospectus are part of a registration statement on Form S-3 we have filed with the Securities and Exchange Commission, which we refer to as the SEC, under the Securities Act of 1933, as amended (the “Securities Act”). This prospectus supplement and the accompanying prospectus do not contain all of the information in the registration statement. We have omitted certain parts of the registration statement, as permitted by the rules and regulations of the SEC. You may find the registration statement, including exhibits, on the SEC’s website atwww.sec.gov. See “Where You Can Find More Information” in the accompanying
prospectus. In addition, any statement in a filing we make with the SEC that adds to, updates or changes information contained in an
earlier filing we made with the SEC shall be deemed to modify and supersede such information in the earlier filing.

Unless otherwise mentioned
or unless the context requires otherwise, all references in this prospectus supplement to “Redwood,” “we,” “us,”
“our” or similar references mean Redwood Trust, Inc. and its subsidiaries, except where it is made clear that the terms
mean Redwood Trust, Inc. only. In statements regarding qualification as a real estate investment trust, or “REIT,” under
the Internal Revenue Code of 1986, as amended, or the “Code,” such terms refer solely to Redwood Trust, Inc.

If the information set forth
in this prospectus supplement differs in any way from the information set forth in the accompanying prospectus, you should rely on the
information set forth in this prospectus supplement.

You should rely only on the
information contained or incorporated by reference in this prospectus supplement, the accompanying prospectus and any free writing prospectus
that we have authorized for use in connection with this offering. No dealer, salesperson or other person is authorized to give any