ING Can't Slip False Ad Suit Over Mortgage Rate Renewals

Law360, New York (September 23, 2013, 3:28 PM EDT) -- A Delaware judge on Thursday preserved class claims that ING Bank FSB reneged on mortgage financing guarantees on its Easy Orange and Orange home loans, ruling the suit plausibly cast the bank’s advertising as an affirmative falsification.

U.S. District Judge Leonard P. Stark rejected ING’s argument that plaintiff Jeffrey Gerbitz failed to meet particularized pleading standards for fraud claims in his suit challenging ING’s alleged imposition of undisclosed costs and eligibility requirements on a loan feature allowing mortgagors to modify their loans and lock in lower...
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