Kristin L. Faust has been named head of the Illinois Housing Development Authority (IHDA), the state’s housing finance agency. She will assume her new role Nov. 12.

Kristin L. Faust
Joel Plotkin Kristin L. Faust

As the state’s chief affordable housing official, Faust will provide leadership in state housing policy to advance IHDA’s mission of financing the creation and preservation of affordable housing throughout Illinois.

She takes over the top post from Audra Hamernik, who was recently named president and CEO of Nevada HAND.

Faust brings more than 25 years of industry experience, most recently serving as president of Neighborhood Housing Services (NHS) of Chicago, a 40-year-old community development organization helping homeowners and strengthening neighborhoods throughout Chicago, south suburban Cook County, and Elgin.

“Kristin has spent her career demonstrating a passion for community development, ensuring the most vulnerable in our state have access to fair and affordable housing,” said Gov. J.B. Pritzker in a statement. “Safe, affordable housing is vital to our state and economy, and I know Kristin will be a strong partner in increasing the amount of available affordable housing and helping first-time home buyers thrive in our state.”

Before joining NHS, Faust was chief credit officer and director of lending and network services at Partners for the Common Good. In that role, she was responsible for the growth and oversight of the domestic and international loan portfolio. Prior to that, Faust served as president of the Enterprise Community Loan Fund, one of the largest non-depository community development financial institutions in the country. In addition, Faust served as chief deputy treasurer for California state treasurer Philip Angelides, where she was responsible for overseeing more than $300 billion in public investment funds.

Faust joins IHDA with nearly 15 years in community development banking in Illinois, primarily with LaSalle National Bank, where she started the Community Development Lending Department.