You will need to go back to the property to look at everything and do all the FHA things, with new photos, new effective date, new comparables, etc. There are some things you would be able to clone from the old report, but a lot of things change. New intended use and users (remember with FHA there are two users), new purpose, etc, etc. Before the purpose was for a mortgage transaction, now the purpose is for FHA insurance, etc. So it is basically a completely new package/product. You might want to make a comment in your addendum that a report was previously completed for a non-FHA purpose and at the client's request has been converted to a FHA transaction. If and how much you discount your fee is up to you. Just finished a FHA report on a property that I did a FHA report on 6 1/2 months ago. Did a completely new package with everything new (except comp #5 was #1 in the old report), I discounted $50 from my normal FHA fee-but that was my business decision. But your order is not an update because everything has changed and your new report is not in reference to the old report.