EXHIBIT 21
LIST OF SUBSIDIARIES
OF
REDWOOD TRUST, INC.
| State of Incorporation | ||
| Subsidiaries | or Organization | |
| Sequoia Mortgage Funding Corporation | Delaware | |
| Sequoia Mortgage Funding Corporation 2002-A | Delaware | |
| Sequoia Mortgage Funding Corporation 2002-B | Delaware | |
| Sequoia Mortgage Funding Corporation 2003-A | Delaware | |
| Sequoia Mortgage Trust 5 | Delaware | |
| Sequoia Mortgage Trust 6 | Delaware | |
| Sequoia Mortgage Trust 7 | Delaware | |
| Acacia CDO 1, Ltd. | Cayman Islands | |
| Acacia CDO 2, Ltd. | Cayman Islands | |
| Acacia CDO 3, Ltd. | Cayman Islands | |
| Acacia CDO 4, Ltd. | Cayman Islands | |
| Acacia CDO 5, Ltd. | Cayman Islands | |
| Acacia CDO 6, Ltd. | Cayman Islands | |
| RWT Holdings, Inc. | Delaware | |
| Sequoia Residential Funding, Inc. | Delaware | |
| Redwood Financial Services, Inc. | Delaware | |
| Redwood Commercial Funding, Inc. | Delaware |