From what I have read on the subject, it looks like the changes for a “qualified mortgage” is that loans cannot exceed 30 years. There does not appear to be any restriction on the ability to get 30 year financing. Another good change is that the legislation will eliminate all interest-only loans, those with negative amortization and most loans with balloon payments.
Not true. There are changes coming as far as “Qualified Mortgage” requirements, but those changes will not end 30 year fixed options. IF/when Fannie and Freddie stop guaranteeing loans, it’s likely there will be less long term fixed options, but that is several years down the road, if it occurs at all.