display recent posts in static front page

I am trying to set up a site (folienoire.be) to look more or les like this:
http://horrorhomework.com

Right now, I have a static page (home) and a posts page (blog).
The home page is showing a list of post titles below. I want the recent posts widget on my front page to show title, featured image and an excerpt of the content.

How do I go about this with the Dynamic News Lite theme?

Levi