Processing a Mortgage for FHA Insurance Main Menu Home Equity Conversion Mortgage (HECM) Workflow Site Map   Homeowner Is Counseled   An FHA-approved HECM lender provides homeowner with a list of housing counseling agencies that provide HECM counseling. The homeowner contacts a housing counseling agency and a session is arranged and conducted by telephone or face-to-face. Note: HECM Calculator on the HUD.gov website can be used to calculate the principal limit and to analyze and compare different payment options (https://entp.hud.gov/idapp/html/f17hecm-calc.cfm).