NEW YORK — A federal judge in Connecticut has refused to dismiss claims that WMC Mortgage Corp., a subsidiary of General Electric Co.’s financial-services arm, misled investors about billions of dollars’ worth of mortgage-backed securities.

U.S. District Judge Charles Haight Jr. on March 31 let proceed claims brought by two mortgage-backed securities trustees, Deutsche Bank National Trust Co. and Law Debenture Trust Co. of New York.