If a lender manages his loans properly, then he will be able to be properly compensated for his time/effort necessary to liquidate the collateral that was securing the loan (and often actually end up being compensated very generously when borrowers default).
that's really not the point, though. lenders are in the business of lending in return for interest + principal. they aren't in the business of speculating on collateral defaults---some may enjoy that aspect, but some (probably most) do not. i would have no interest in that if i were to lend here.