The loan modification, or rate freeze, would apply to a limited subset of subprime borrowers who meet a series of criteria, not least of which is that they must have paid their loans on time.

FORBES: Magazine Article

While Bullard said forward guidance is ineffective, and asked for a modification in the flow rate of asset purchases (Fed code for more money printing), they both agree the Fed has to do more to stimulate the economy.

FORBES: The Fed Is Inflating Asset Prices And Increasing Volatility, And It Should Do More, Kocherlakota Says

Those extra payments and assistance with interest rate reductions shift the math in favor of modification by thousands of dollars a year.

FORBES: Magazine Article