Company: RWT-PA
Filing Date: 2025-01-16
Form Type: 424B5
Source: 0001104659-25-004099
Chunk: 138

Company: REDWOOD TRUST INC
Filing Date: 2025-01-16
Form: 424B5
Chunk 138
---
 validity of the debt securities and certain tax matters will be passed
upon for us by Latham & Watkins LLP.

<div align='center'>EXPERTS</div>

The financial statements
and management's assessment of the effectiveness of internal control over financial reporting incorporated by reference in this prospectus
and elsewhere in the registration statement have been so incorporated by reference in reliance upon the reports of Grant Thornton LLP,
independent registered public accountants, upon the authority of said firm as experts in accounting and auditing.

<div align='center'>INCORPORATION
OF CERTAIN INFORMATION BY REFERENCE</div>

The SEC’s rules allow
us to “incorporate by reference” information into this prospectus, which means that we can disclose important information
to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be
part of this prospectus, and subsequent information that we file with the SEC will automatically update and supersede that information.
Any 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superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or a subsequently filed document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