The regulator for Fannie Mae and Freddie Mac on Tuesday said lenders should continue pursuing foreclosures on individual borrowers even while trying to rework loan terms, despite calls from lawmakers and state investigators to end the practice. “At times, simultaneous actions are necessary because of the long time frames of the foreclosure process and because borrowers are not always responsive to foreclosure alternative offers,” said Edward DeMarco, acting director of the Federal Housing Finance Agency. Attorneys general from all 50 states, led by Iowa Attorney General Tom Miller, are investigating the banks’ practices. Miller has said any possible settlement could include financial penalties and a pledge that banks do away with the so-called dual-track system.