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CastleLine, Arthur J. Gallagher partner to offer risk management service

CastleLine has signed a strategic agreement with Arthur J. Gallagher Risk Management Services to offer a suite of innovative products and services to mortgage industry customers.

As part of the agreement, the companies will leverage their respective expertise to provide a wide range of integrated, value-added risk management solutions to clients engaged in the origination, underwriting, and purchase of residential mortgages.

Specifically CastleLine and its subsidiaries will offer a multitude of alternative insurance solutions designed to safeguard mortgage originators and investors against losses resulting from repurchase demands due to errors, omissions and fraud during the mortgage underwriting process.

CastleLine chief executive officer Bryan Binder said, "Their national presence and scope of capabilities, coupled with our mortgage expertise and innovative new products, will enable us to collectively deliver highly customized and cost-effective risk management strategies to our customers."

Services to be provided by Gallagher include complementary risk management products, such as property/casualty, other E&O/D&O coverage, as well as employee benefit and HR consulting services.

New York-based CastleLine and its subsidiaries offer financial products and services to parties and securitization of residential mortgages.