Loan Value Group LLC has announced that it has named Louis J. Petriello as chief financial officer and general counsel. In this newly created role, Petriello will oversee all company accounting practices and legal affairs and work with management to implement Loan Value Group’s Responsible Homeowner Reward, a unique program that provides cash payments to eligible homeowners affected by negative equity who remain current on their mortgages. He will be based in the company’s headquarters and report to Howard Hubler, the company's chief executive officer.
Before joining Loan Value Group, Petriello served as chief financial officer and general counsel for Logan Circle Partners LP, an institutional asset management firm acquired by Fortress Investment Group LLC in April 2010. Earlier, Petriello served as director of tax at Shared Medical Systems Corporation (SMS), a publicly traded, multinational corporation located in Malvern, Pa. After SMS, he was a partner in the law firm of Petriello & Royal LLC. He began his career at Arthur Andersen & Company as a tax manager.“Lou is a significant addition to our senior management team,” said Hubler. “His deep experience in the institutional marketplace coupled with his joint focus on both financial and legal issues of financial products will be valuable as we continue to roll out the RH Reward program to banks and other owners of mortgage risk.”
A registered CPA and lawyer, Petriello earned a bachelor of sciences degree in accounting from the University of Delaware and a J.D. from Widener University School of Law. He has also served as an adjunct professor in the MBA Program at Penn State University, teaching courses in accounting and finance.
“RH Reward is the only credible solution to the endemic problem of strategic default that has the demonstrated ability to align the interests of both borrower and risk owner, as well as the communities in which at-risk borrowers live,” said Petriello. “I am impressed on the progress Loan Value Group has made since launching the program in January and look forward to working with Howie and the rest of the management team in continuing that momentum.”
For more information, visit www.RHReward.com.