<SEC-DOCUMENT>0001144204-14-070500.txt : 20141124
<SEC-HEADER>0001144204-14-070500.hdr.sgml : 20141124
<ACCEPTANCE-DATETIME>20141124060443
ACCESSION NUMBER:		0001144204-14-070500
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20141124
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141124
DATE AS OF CHANGE:		20141124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REDWOOD TRUST INC
		CENTRAL INDEX KEY:			0000930236
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				680329422
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13759
		FILM NUMBER:		141244541

	BUSINESS ADDRESS:	
		STREET 1:		ONE BELVEDERE PLACE
		STREET 2:		SUITE 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941
		BUSINESS PHONE:		(415) 380-2317

	MAIL ADDRESS:	
		STREET 1:		ONE BELVEDERE PLACE
		STREET 2:		SUITE 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v395017_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>
&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section&nbsp;13 OR 15(d)
of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of Report (Date of earliest event
reported): November 24, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REDWOOD TRUST, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Maryland</B> &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-13759</B> &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>68-0329422</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(State or other</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">incorporation)</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>One Belvedere Place</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Suite&nbsp;300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Mill Valley, California 94941</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices
and Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(415)&nbsp;389-7373</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Written communications
pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Soliciting material
pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement
communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement
communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7.01. Regulation FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 24, 2014, Redwood Trust, Inc.
issued a press release announcing its Board of Directors&rsquo; intention with respect to 2015 regular quarterly dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information contained in this Item
7.01 and the attached Exhibit 99.1 is furnished to and not filed with the Securities and Exchange Commission, and shall not be
incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended,
or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Exhibit 99.1</FONT></TD>
    <TD STYLE="width: 86%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Press Release dated November 24, 2014</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 46%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Date: November 24, 2014</FONT></TD>
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.8pt 0pt 0">REDWOOD TRUST, INC.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.8pt 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.8pt 0pt 0; text-indent: 0.5in">&nbsp;</P></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.8pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps">/s/ Andrew P. Stone&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;&nbsp;Andrew P. Stone&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; padding-left: 31.95pt; text-indent: -31.5pt"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Counsel and Secretary</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 9%; padding-right: 0.8pt; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Exhibit No</U></B>.</FONT></TD>
    <TD STYLE="width: 91%; padding-right: 0.8pt; text-decoration: underline"><FONT STYLE="font-size: 10pt"><B><U>Exhibit Title</U></B> &nbsp;</FONT></TD>
    </TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Press Release dated November 24, 2014</FONT></TD>
    <TD STYLE="width: 16%; padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v395017_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0; text-decoration: underline; padding-top: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>FOR IMMEDIATE RELEASE</U></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">CONTACTS:&nbsp;&nbsp;&nbsp; &nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; padding-right: 0; padding-left: 0; padding-top: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Christopher Abate</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redwood Trust, Inc.</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Monday, November 24, 2014</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">(415) 384-3584 </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mike McMahon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">Investor Relations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-align: left">(415) 384-3805&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REDWOOD ANNOUNCES INTENTION TO MAINTAIN
DIVIDEND </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AT $0.28 PER SHARE PER QUARTER IN 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>MILL VALLEY,
CA</B> </FONT><B>&ndash; Monday, November 24, 2014</B><FONT STYLE="font-size: 10pt"> &ndash; Redwood Trust, Inc. (NYSE:RWT) today
announced that its Board of Directors declared its intention to continue to pay a regular dividend of $0.28 per share per quarter
in 2015. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;The payment of regular dividends
remains a priority for Redwood,&quot; said Marty Hughes, Redwood's CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information about Redwood Trust,
Inc., please visit our website at: www.redwoodtrust.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cautionary Statement: This
press release and the related conference call contain forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, including statements related to Redwood&rsquo;s
intentions with respect to 2015 regular dividends. Forward-looking statements involve numerous risks and uncertainties. Our
actual results may differ from our beliefs, expectations, estimates, and projections and, consequently, you should not rely
on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature
and can be identified by words such as &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend,&rdquo;
&ldquo;seek,&rdquo; &ldquo;plan&rdquo; and similar expressions or their negative forms, or by references to strategy, plans,
or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those
described in our most recent Annual Report on Form 10-K under the caption &ldquo;Risk Factors.&rdquo; Other risks,
uncertainties, and factors that could cause actual results to differ materially from those projected may be described from
time to time in reports we file with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K. We
undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future
events, or otherwise.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>



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