A UAD 3.6 appraisal update addresses whether value has declined since the original appraisal. A completion report documents whether required work is complete, without providing a value opinion. The choice of update vs. completion report depends on the lender's condition; a loan can need either or both. Fannie Mae and Freddie Mac explain these separate functions in their Restricted Appraisal Update Report and Completion Report reference guides.

This explanation reflects guidance available on August 24, 2026. UAD means Uniform Appraisal Dataset, the standard used to report appraisal information electronically.

First establish which UAD version the file uses

The 1004D replacement applies to the UAD 3.6 workflow, which separates the two functions previously combined on Fannie Mae Form 1004D, also known as Freddie Mac Form 442. For legacy files, the August 5, 2026 Fannie Mae Selling Guide still describes Form 1004D and directs UAD 3.6 users to separate policy.

As of this article's publication date, the transition is underway. All lenders became eligible to submit UAD 3.6 reports on January 26, 2026. The June 4, 2026 announcement set a November 2, 2026 mandate for new appraisal submissions to the Uniform Collateral Data Portal, or UCDP, while allowing revisions to previously submitted UAD 2.6 reports.

For a pending file, confirm the original appraisal's version before requesting follow-up documentation. The February 2026 UCDP General User Guide prohibits mixing UAD 2.6 and 3.6 submissions under one Document File ID. A lender's adoption of new software does not, by itself, change an existing appraisal's format. Teams managing mortgage workflow technology should track the version of each appraisal alongside the lender's requirements for that assignment.

What a Restricted Appraisal Update Report establishes

For a UAD 3.6 assignment, an update is a new appraisal assignment that incorporates the original report by reference. The appraiser reviews market conditions and determines whether the property's market value has decreased since the original effective date, as described in the March 10, 2026 update reference guide.

“Restricted” describes the reporting format. The appraiser must still develop and support the valuation conclusion in the workfile, according to Fannie Mae's September 2025 UAD 3.6 explanation.

Appraisal age can trigger the need for an update. For a Fannie Mae purchase of an existing home with a traditional appraisal, that guidance describes obtaining an update when the original appraisal is more than four months but less than 12 months old at the date of the note and mortgage. If the update identifies a value decline, Fannie Mae requires a new appraisal. For a UAD 3.6 file, confirm the applicable age rule with the lender for the loan and appraisal type; this example is not a deadline for every mortgage program.

What a UAD Completion Report establishes

For a UAD 3.6 file requiring appraiser verification, the Completion Report addresses conditions in the original appraisal. Depending on the assignment, it records individual repair results, newly observed repair needs, or whether construction is complete and consistent with the plans and specifications.

The report can document unfinished work; its title alone does not establish that the condition is satisfied. The March 10, 2026 completion reference guide requires photographs or images for repair items and expressly separates completion reporting from an opinion of value.

Evidence that a roof repair is finished therefore does not answer whether market value has declined while the loan was pending.

Can a loan require both reports?

Yes. In UAD 3.6, UCDP accommodates both an Update Report and a Completion Report associated with the same original appraisal. They can be submitted in either order after that appraisal, according to the February 2026 user guide.

Consider a hypothetical Fannie Mae purchase of an existing home with a traditional UAD 3.6 appraisal effective March 20, 2026. The appraisal requires a roof repair, and the lender requires an appraiser's Completion Report. Closing moves to August 24, and the seller finishes the repair on August 14.

The repair creates a completion question. The delay creates a separate appraisal-age question under the Fannie Mae rule described above. Satisfactory completion evidence would leave the update requirement to be addressed.

Changing those assumptions produces three different needs:

These scenarios illustrate the two report functions; they do not determine whether a particular loan is ready to close. For the broader distinction, see conditions remaining before closing.

Turn the lender's condition into a clear request

For either UAD version, ask the lender's appraisal or underwriting team to specify the condition, applicable report or permitted alternative, fee, inspection arrangements, and expected delivery date.

For a UAD 3.6 file, identify the original appraisal, specify update, completion, or both, and name any work requiring verification. Track each requested result separately. The September 16, 2025 joint announcement confirms that applicable UAD 3.6 Update and Completion Reports must be submitted to UCDP. That submission requirement does not mean every loan needs both reports.

For a legacy UAD 2.6 file, have the lender confirm the applicable Form 1004D/442 workflow or allowed alternative before arranging the follow-up. Buyers working through purchase conditions can ask for a written status identifying which condition has been cleared and what remains.