If a house is not foreclosed on and no payments are being received, this comes from the taxpayer. In the end, banks are not necessarily the ones who suffer, it may be federal programs, like affordable housing for the poor. As the safety net gets cut more and more, choices will be have to be made and there will be winners and losers.
"Fannie and Freddie own or guarantee about half of the nation's $10.4 trillion in mortgages. The bulk of their losses stemmed from soured mortgages the firms bought or guaranteed between 2005 and 2008. The companies have sharply tightened underwriting standards, and loans made over the past three years are expected to be profitable."
http://online.wsj.com/article/SB10001424052970203687504577001653467422674.html