Yes, Admin users can manually undo the action of defaulting a deal, restoring it to active status and removing the default calculations on the deal.
To do this, Admin users will navigate to the Deal Tracking page of the defaulted deal. Click the "Undo Default" button in the Post Funding Details section of the page:
This deal will now be considered active again, no longer in a defaulted stage, with the loss calculations removed. The deal can be defaulted again at some future point:
This is an Admin-only functionality. Agents will not be able to undo deal defaulting.