You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

WASHINGTON, Dec. 11, 2020 /PRNewswire/ --The National Reverse Mortgage Lenders Association's Board of Directors elected the following slate of officers to serve on NRMLA's Executive Committee during the 2021 term: Scott Norman,(View his bio) Mike Kent, (View his bio) Co-Chairman Co-Chairman Finance of America Reverse LLC PHH Mortgage Corp. dba Liberty Reverse Mortgage Austin, TX Rancho Cordova, CA Jim Cory, CRMP, (View his bio) Robert Sivori, (View his bio) Vice-Chairman Vice-Chairman Open Mortgage, LLC Celink San Diego, CA Lansing, MI Leslie Flynne (View her bio) Michael McCully, (View his bio) Secretary Treasurer Reverse Mortgage Solutions New View Advisors Houston, TX Naples, FL "I want to congratulate Scott and Mike on being elected NRMLA's co-chairs. Their diverse skillsets and thoughtful leadership are well-suited to help govern the association during this unprecedented time of changing market demands," says NRMLA President Steve Irwin. The complete list of NRMLA's Board of Directors and Officers is available on NRMLAonline.org. About Reverse MortgagesReverse mortgages are available to homeowners age 62 and older with significant home equity. They are a versatile financial tool that seniors can use to borrow against the equity in their home without having to make monthly principal or interest payments as with a traditional "forward" mortgage or a home equity loan.Under a reverse mortgage, funds are advanced to the borrower and interest accrues, but the outstanding balance is not due until the last borrower leaves the home, sells or passes away. To date, more than 1.2 million households have utilized an FHA-insured reverse mortgage to help meet their financial needs. For more information, please visit www.ReverseMortgage.org About the National Reverse Mortgage Lenders AssociationThe National Reverse Mortgage Lenders Association (NRMLA) is the national voice for the industry and represents the lenders, loan servicers, and housing counseling agencies responsible for more than 90 percent of reverse mortgage transactions in the United States.All NRMLA member companies commit themselves to a Code of Ethics & Professional Responsibility. Learn more at www.nrmlaonline.org. Contact:Darryl Hicks, 202-939-1784, [emailprotected]National Reverse Mortgage Lenders Association SOURCE National Reverse Mortgage Lenders Association Related Links https://www.nrmlaonline.org

Answer: NRMLA Announces 2021 Executive Officers Scott Norman and Michael Kent Elected Co-Chairs