September 5, 2014
Deadline to request exclusion(opt-out) from the Settlement
September 16, 2014
Deadline to object to the Settlement
October 7, 2014
Final Approval Hearing
WELCOME TO THE ING RATE RENEWAL SETTLEMENT PROGRAM WEBSITE
Please note: The Settlement Program and Toll-Free Phone Number are now closed. If you require additional information, please call Capital One at 1-866-509-3906.
If you obtained an Orange Mortgage or Easy Orange Mortgage from ING Bank, FSB (''ING'') between October 1, 2005 and May 31, 2009, or performed a Rate Renewal of an ING Orange Mortgage between October 1, 2005 and May 31, 2009, your rights could be affected by this settlement
This website explains the lawsuit, the Settlement, your legal rights, what benefits are available, who may be eligible for those benefits, and how to get them. Important Update: On October 7, 2014, the United States District Court for the District of Delaware granted Final Approval of the ING Rate Renewal Settlement. You may read the Court’s order
.The Settlement provides
to pay any and all eligible class members and provide for attorneys' fees and costs from this fund, as detailed in Question 14 of the
. The Settlement avoids the further cost and risk associated with continuing the lawsuits for both parties and releases ING from further liability. If you received a Notice, it is because according to ING's records, you are a class member, and
you will receive payment of at least $25, with an expected average payment of about $175 per loan Account
, unless you opt out of this settlement.
Your Legal Rights and Options in this Settlement
You will get a check. The average check amount will be about $175, with a minimum payment amount of $25. In exchange, you give up all claims against ING relating to Rate Renewal.
You will get no payment. This is the only option that allows you to be part of any other lawsuit against ING that involves the legal claims at issue in this case
Object or Go to a Hearing
Write to the Court why you don't like the settlement or ask to speak in Court about the fairness of the settlement.
The Notice has been updated to reflect a correction from the original mailed version of the Notice. A sentence in Question No. 6 of the mailed version of the Settlement Notice read ''Borrowers on Loan Accounts that did not do a Rate Renewal after the fixed interest rate available through Rate Renewal dropped 1.5% below the existing fixed interest rate on the loan will get an additional $25 for each $100,000 of original principal balance on the loan.'' This should have read ''$15'' instead of ''$25''. Please note that this correction does not affect the estimated payment amounts displayed on this website (which you can view by clicking the ''How Much Will I Get Paid/View My Notice'' button and logging in).