Section 1500: Disbursement to Others.

If the payment amount changes, due to a delayed signing date, and the amount of the loan being paid off increases due to accrued interest- do we have to cure by providing a new HUD statement and providing the difference in the payment out of our own pocket?

If the payment amount changes, do you have to cure? No. But why is your payment changing...you can't just change it because you allowed stale documents to be used in closing a loan post date.

Why would you have a delayed signing date? You should re-print your docs if they don't close on schedule. Your HUD needs to be accurate, however. If you are showing the 'old' payoff on the HUD, it is incorrect, IMO. Again, it all goes back to a true and accurate settlement (loan) DATE.

So, if you closed on the innacurate HUD (low payoff) then as far as I'm concerned, you are on the hook for the additional interest to pay the old loan off. That should make the HUD, based on the earlier date, accurate by default.

That's my take on it at any rate.

Is there a guide that anyone can recommend for understanding the HUD-1? I am familiar with the commentary to the form in RESPA, but I could definitely use some more help.

All I can suggest if the Q&A and Round ups, along with Appdx A. I don't think you will really find anything that would successfully answer the above question, however.

Totally agree with Joker, you should never close on stale dated docs.
However, I don't see where you'd be curing anything because a loan payoff isn't in any tolerance boxes.
I wouldn't dare go to the borrower for additional monies because I was too lazy to reprint docs so yes, I think your bank should pony up any additional funds due.

WHOA! Reread the OP's post. Please explain: "If the payment amount changes". What payment amount are you talking about? Are Joker and I correct in assuming you mean loan PAYOFF amount or are you talking about changing the monthly payment amount on the new loan??? If it's the latter, you have a whole different set of problems to deal with.