FHEFSSAFederal Housing Enterprises Financial Safety and Soundness Act (US Department of Housing and Urban Development)
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The explanation is that the goals have always been set "below the market." This dates back to 1992, when FHEFSSA established specific numerical targets for each goal, pending HUD rulemaking.
It is as close as HUD could come, under FHEFSSA, to establishing a home-purchase goal.
(13.) Fannie Mae and Freddie Mac had strategic reasons to press for ambiguous language in the FHEFSSA. For example, one version of the risk-based capital rules required the regulator to identify the worst historical interest rate shocks for use in the stress test.
The 1992 Federal Housing Enterprises Financial Safety and Soundness Act (FHEFSSA) established goals for the GSEs regarding their purchase of loans in the secondary mortgage market made to underserved Americans.