EXHIBIT
      32.1
     
    Certification
      of Chief Executive Officer Regarding
      Quarterly Report On Form 10-Q 
    Pursuant
      to 18 U.S.C. Section
      1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002
     
    In
      connection with the Quarterly Report of Redwood Trust, Inc. (the “Company”) on
      Form 10-Q, as filed with the Securities and Exchange Commission on the date
      hereof (the “Report”), I, George E. Bull, III, Chief Executive Officer of the
      Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant
      to Section 906 of the Sarbanes-Oxley Act of 2002, that:
     
    (1)
      The
      Report fully complies with the requirements of Section 13(a) or 15(d) of the
      Securities Exchange Act of 1934 as amended; and
     
    (2)
      The
      information contained in the Report fairly presents, in all material respects,
      the financial condition and results of operations of the Company for the periods
      indicated.
     
    
      
          
            | Date:
                August 5, 2008 |  | /s/
                GEORGE E.
                BULL,
                III | 
          
            |  |  | George
                E. Bull, III Chairman
                of the Board and Chief Executive
                Officer |