Halliday & Matthiessen (2014: 379):
Other words also enter into the nominal group, namely words of the class verb, which may function as Epithet or Classifier. Verbs function in the nominal group in one of two forms:(i) present (active) participle, V-ing, e.g. losing, as in a losing battle;
(ii) past (passive, or intransitive) participle, V-en, e.g. lost, as in a lost cause.