Redwood Trust's recent $280 million RMBS is generally viewed as the Mill Valley, CA-headquartered firm's second attempt to jump-start the RMBS market, but doubts persist about whether it will be any more successful.

The REIT's $240 million public offering last April was heavily oversubscribed, and market participants had widely hoped that it would open the door to more securitizations of non-agency Jumbo mortgage loans outside the parameters of a government guarantee.

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