<SEC-DOCUMENT>0001144204-16-104198.txt : 20160523
<SEC-HEADER>0001144204-16-104198.hdr.sgml : 20160523
<ACCEPTANCE-DATETIME>20160523161556
ACCESSION NUMBER:		0001144204-16-104198
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160523
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160523
DATE AS OF CHANGE:		20160523

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:		161669191

	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>v440707_8-k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="margin: 0">&nbsp;<B>&nbsp;</B></P>

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

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

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

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

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

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<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; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</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; 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: 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: center"><B>Date of Report (Date of earliest event
reported): May 23, 2016</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; text-align: center"></P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 34%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Maryland</B> &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 32%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-13759</B> &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 34%; 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; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other</FONT> <FONT STYLE="font-size: 10pt">jurisdiction of</FONT> <FONT STYLE="font-size: 10pt">incorporation)</FONT></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: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer</FONT> <FONT STYLE="font-size: 10pt">Identification No.)</FONT></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: 0pt 0; text-align: center"><B>One Belvedere Place</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices
and Zip Code)</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: center"><B>(415)&nbsp;389-7373</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</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: center"><B>Not Applicable</B></P>

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

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

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

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<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">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>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule&nbsp;425 under
the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule&nbsp;14a-12 under
the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

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

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<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"><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; text-indent: 0.5in">On May 23, 2016, Redwood
Trust, Inc. (the &ldquo;Company&rdquo;) issued a press release announcing that its Chief Financial Officer will present at the
KBW Mortgage Finance Conference on Wednesday, June 1, 2016 at 11:00 a.m. (Pacific time). A link to the live webcast of the Company&rsquo;s
presentation will be available through the Investor Information &ndash; Webcasts and Presentations section of the Company&rsquo;s
website at www.redwoodtrust.com. An archive of the webcast and the presentation materials will be available shortly after the presentation
at the same location for 90 days.</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; text-indent: 0.5in">Cautionary Statement:
Redwood Trust&rsquo;s presentation for the KBW Mortgage Finance Conference may contain forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 Annual Report on Form 10-K for the
year ended December 31, 2015, 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 (SEC), 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.</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; text-indent: 0.5in">Important factors,
among others, that may affect our actual results include: interest rate volatility, changes in credit spreads, and changes in
liquidity in the market for real estate securities and loans; changes in the demand from investors for residential mortgages and
investments, and our ability to distribute an increased volume of residential mortgages through our whole-loan distribution channel;
our ability to finance our investments in securities and our acquisition of residential mortgages with short-term debt; the availability
of assets for purchase at attractive risk-adjusted returns and our ability to reinvest cash and the proceeds from the potential
sale of securities and investments we hold; changes in the values of assets we own; higher than expected operating expenses due
to delays or decreases in the realization of expected operating expense reductions related to the repositioning of our conforming
mortgage banking activities and commercial loan origination activities, and other unforeseen expenses; general economic trends,
the performance of the housing, commercial real estate, mortgage, credit, and broader financial markets, and their effects on
the prices of earning assets and the credit status of borrowers; federal and state legislative and regulatory developments, and
the actions of governmental authorities, including those affecting the mortgage industry or our business (including, but not limited
to, the Federal Housing Finance Agency&rsquo;s rules relating to FHLB membership requirements and the implications for our captive
insurance subsidiary&rsquo;s membership in the FHLB); developments related to the fixed income and mortgage finance markets and
the Federal Reserve&rsquo;s statements regarding its future open market activity and monetary policy; our exposure to credit risk
and the timing of credit losses within our portfolio; the concentration of the credit risks we are exposed to, including due to
the structure of assets we hold and the geographical concentration of real estate underlying assets we own; our exposure to adjustable-rate
mortgage loans; the efficacy and expense of our efforts to manage or hedge credit risk, interest rate risk, and other financial
and operational risks; changes in credit ratings on assets we own and changes in the rating agencies&rsquo; credit rating methodologies;
changes in interest rates; changes in mortgage prepayment rates; the ability of counterparties to satisfy their obligations to
us; our involvement in securitization transactions, the profitability of those transactions, and the risks we are exposed to in
engaging in securitization transactions; exposure to claims and litigation, including litigation arising from our involvement
in securitization transactions; whether we have sufficient liquid assets to meet short-term needs; our ability to successfully
compete and retain or attract key personnel; our ability to adapt our business model and strategies to changing circumstances;
changes in our investment, financing, and hedging strategies and new risks we may be exposed to if we expand our business activities;
our exposure to a disruption or breach of the security of our technology infrastructure and systems; exposure to environmental
liabilities; our failure to comply with applicable laws and regulations; our failure to maintain appropriate internal controls
over financial reporting and disclosure controls and procedures; the impact on our reputation that could result from our actions
or omissions or from those of others; changes in accounting principles and tax rules; 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; decisions about raising, managing, and distributing capital; and other factors not presently
identified.</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; text-indent: 0.5in"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; 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="vertical-align: top">
    <TD STYLE="width: 1in; padding-right: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">Exhibit 99.1</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">Press Release dated May 23, 2016</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P>

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

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

<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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<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Date: May 23, 2016</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.8pt"><FONT STYLE="font-size: 10pt">REDWOOD TRUST, INC.</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 37%; padding-right: 1.8pt; border-bottom: Black 1pt solid"><FONT STYLE="text-transform: uppercase">/<FONT STYLE="font-size: 10pt">s</FONT>/ <FONT STYLE="font-size: 10pt">Andrew P. Stone</FONT></FONT></TD>
    <TD STYLE="vertical-align: top; width: 10%; 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 STYLE="padding-right: 1.8pt"><FONT STYLE="font-size: 10pt">Andrew P. Stone</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 STYLE="padding-right: 1.8pt"><FONT STYLE="font-size: 10pt">General Counsel, Executive Vice President, and Secretary</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>


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

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    <TD STYLE="width: 1in; padding-right: 0.8pt; font-size: 10pt; text-decoration: underline"><FONT STYLE="font-size: 10pt"><B><U>Exhibit No</U></B>.</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt; text-decoration: underline"><FONT STYLE="font-size: 10pt"><B><U>Exhibit Title</U></B> </FONT></TD></TR>
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    <TD STYLE="width: 1in; padding-right: 0.8pt; text-align: left"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Press Release dated May 23, 2016</FONT></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

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

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    <TD STYLE="width: 70%; padding-right: 0; padding-left: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>FOR IMMEDIATE RELEASE</U></B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 0; padding-left: 0; text-indent: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CONTACT:</FONT></TD>
    <TD STYLE="width: 20%; padding-left: 5.4pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kristin Brown</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redwood Trust, Inc.</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investor Relations</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Monday, May 23, 2016 </FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(415) 384-3805 </FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Redwood
Trust to Present at the KBW Mortgage Finance Conference</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: black"><B>MILL VALLEY,
CA &ndash; Monday, May 23, 2016</B> &ndash; Redwood Trust, Inc. (NYSE: RWT) today announced that </FONT>Christopher J. Abate, <FONT STYLE="color: black">Chief
Financial Officer, will present at the KBW Mortgage Finance Conference on Wednesday, June 1, 2016 at 11:00 a.m. Pacific Time /
2:00 p.m. Eastern Time.</FONT></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">A link to the live webcast of the presentation
will be available through the Investor Information &ndash; Webcasts and Presentations section of our website, <FONT STYLE="color: Blue"><U>www.redwoodtrust.com</U></FONT>.
An archive of the webcast will be available shortly after the presentation at the same location for 90 days.</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">This presentation may include a discussion
of Redwood Trust&rsquo;s non-GAAP core earnings, which is not calculated in accordance with generally accepted accounting principles
(GAAP). A reconciliation of GAAP earnings to core earnings, along with additional information about Redwood&rsquo;s core earnings
measure, are included in The Redwood Review, a quarterly publication available on Redwood&rsquo;s website at <FONT STYLE="color: #3F47FF"><U>www.redwoodtrust.com</U></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"><I>Cautionary Statement: Redwood Trust&rsquo;s
presentation for the KBW Mortgage Finance Conference may contain forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. 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 Annual Report on Form 10-K for the year ended December
31, 2015, 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 (SEC), 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Important factors, among others, that
may affect our actual results include: interest rate volatility, changes in credit spreads, and changes in liquidity in the market
for real estate securities and loans; changes in the demand from investors for residential mortgages and investments, and our ability
to distribute an increased volume of residential mortgages through our whole-loan distribution channel; our ability to finance
our investments in securities and our acquisition of residential mortgages with short-term debt; the availability of assets for
purchase at attractive risk-adjusted returns and our ability to reinvest cash and the proceeds from the potential sale of securities
and investments we hold; changes in the values of assets we own; higher than expected operating expenses due to delays or decreases
in the realization of expected operating expense reductions related to the repositioning of our conforming mortgage banking activities
and commercial loan origination activities, and other unforeseen expenses; general economic trends, the performance of the housing,
commercial real estate, mortgage, credit, and broader financial markets, and their effects on the prices of earning assets and
the credit status of borrowers; federal and state legislative and regulatory developments, and the actions of governmental authorities,
including those affecting the mortgage industry or our business (including, but not limited to, the Federal Housing Finance Agency&rsquo;s
rules relating to FHLB membership requirements and the implications for our captive insurance subsidiary&rsquo;s membership in
the FHLB); developments related to the fixed income and mortgage finance markets and the Federal Reserve&rsquo;s statements regarding
its future open market activity and monetary policy; our exposure to credit risk and the timing of credit losses within our portfolio;
the concentration of the credit risks we are exposed to, including due to the structure of assets we hold and the geographical
concentration of real estate underlying assets we own; our exposure to adjustable-rate mortgage loans; the efficacy and expense
of our efforts to manage or hedge credit risk, interest rate risk, and other financial and operational risks; changes in credit
ratings on assets we own and changes in the rating agencies&rsquo; credit rating methodologies; changes in interest rates; changes
in mortgage prepayment rates; the ability of counterparties to satisfy their obligations to us; our involvement in securitization
transactions, the profitability of those transactions, and the risks we are exposed to in engaging in securitization transactions;
exposure to claims and litigation, including litigation arising from our involvement in securitization transactions; whether we
have sufficient liquid assets to meet short-term needs; our ability to successfully compete and retain or attract key personnel;
our ability to adapt our business model and strategies to changing circumstances; changes in our investment, financing, and hedging
strategies and new risks we may be exposed to if we expand our business activities; our exposure to a disruption or breach of the
security of our technology infrastructure and systems; exposure to environmental liabilities; our failure to comply with applicable
laws and regulations; our failure to maintain appropriate internal controls over financial reporting and disclosure controls and
procedures; the impact on our reputation that could result from our actions or omissions or from those of others; changes in accounting
principles and tax rules; 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; decisions about raising,
managing, and distributing capital; and other factors not presently identified.</I></P>



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