The people who "lost everything" were people who bought houses they couldn't afford by lying about their incomes. Counting on the bubble growing forever.
Acting like the only people who had these loan obligations were actively doing something wrong is a total myth.
Meanwhile Wells Fargo, who gave loans to dead people to meet quotas, was made whole and then fined a few token dollars.
The people who defaulted on their mortgages did so because they couldn't afford them. The reason they got a loan that they couldn't afford was because they lied about either their income or their debts while getting the no-doc loans.
The failures in process that led yo the industry allowing people to lie to them without verification is another part of the story but it's completely dishonest to act like the people getting the loans they defaulted on had no agency.
No, they were offered loans at incredibly low rates that would be unaffordable if they rose at all. A large part of the scandal was about how the banks were offering loans to people that couldn't really afford them not that people were lying to get those loans.