Default process management software provider DRI Management Systems, Inc., has announced its new Web-based, loan servicing application for the mortgage industry, Rincon. According to the California-based company, the Rincon platform helps overburdened servicers keep pace with demands for borrower assistance. Rincon is expected to double or triple the workload each servicing specialist can handle.

Holliday Fenoglio Fowler, L.P. (HFF), a provider of commercial real estate and capital markets services, announced this week that Christopher Simon is the company's new managing director of its debt placement group. A 13-year veteran of commercial real estate, Simon's new role will focus on originating debt, equity, and structured finance transactions throughout the western United States.

The Arizona Superior Court issued a ruling this month that allows San Diego-based receivership and loan recovery specialist Trigild to sell seven Arizona apartment complexes to Standard Portfolio for $123 million. The 2,759-unit portfolio was abandoned last year by the investment firm Bethany Group and placed into receivership in March 2009. The court's ruling allows the properties to be sold without requiring the lender to foreclose prior to the sale.

Real Property Management says it has transitioned thousands of REO properties into rentals by using a lease and hold strategy. The company offers its rental initiatives to former owners of foreclosed properties or to new tenants, and says local, regional, and national banks, as well as other mortgage owners are now turning to a lease and hold strategy as REO inventories balloon.

Prommis Solutions, a national provider of technology-enabled solutions to the mortgage banking industry, has hired Phil Johnsen as SVP of sales and marketing. Prior to accepting his position at Prommis Solutions, Johnsen was founding partner and president of DDN Mortgage Services LLC, where he led the company's Federal Housing Administration (FHA) inspections and REO renovation services.

Altisource Portfolio Solutions has added short sale and deed-in-lieu services to its arsenal of programs for mortgage lenders and servicers. Altisource has been providing services related to real estate mortgage portfolio management, asset recovery management, and customer relationship management for two decades. The company says this new venture will allow lenders and servicers to enhance their loss mitigation programs from a single-source, end-to-end provider.

Lenders One Mortgage Cooperative recently announced its partnership with AllRegs as the organization's newest preferred vendor. Lenders One is a national alliance of more than 150 independent mortgage bankers, correspondent lenders, and suppliers of mortgage products and services. The company says its newest arrangement with AllRegs will provide these members with compliance training programs and access to a central repository for single and multifamily underwriting and insuring guidelines.

Loan Value Group, a strategic default solutions provider to owners of risk, recently named Louis J. Petriello CFO and general counsel. Petriello will oversee all company accounting practices and legal affairs in his newly created role. In addition, he will work to implement Responsible Homeowner Reward (RH Reward), the company's cash payment program for homeowners affected by negative equity who remain current on their mortgages.

PartnerFirst LLC has added mortgage default industry executive Bill Breeden to its team as a principal and chief development officer. Breeden, a former SVP at ServiceLink and AssetLink, is responsible for helping stakeholders build an effective short sale management and disposition strategy using the PartnerFirst panel of trained and certified real estate agents.

Financial Asset Services, Inc. (FAS) has launched a new door knock service to help mortgage servicers with loss mitigation. The company says successful door knocks can lead to discussions of short sale transactions or deed-in-lieu negotiations for the servicer and allow homeowners to leave the property on their own terms.