Per default optimizes for RMSE. Alternatively, you can set the Loss property to MAE or LogisticLoss. If set to log likelihood and with binary ratings, the recommender implements a simple version Menon and Elkan's LFL model, which predicts binary labels, has no advanced regularization, and uses no side information.
This recommender makes use of multi-core machines if requested. Just set MaxThreads to a large enough number (usually multiples of the number of available cores). The parallelization is based on ideas presented in the paper by Gemulla et al.
Literature:
This recommender supports incremental updates. See the paper by Rendle and Schmidt-Thieme.