Fannie Mae flushed the multifamily MBS market with liquidity in the first half by issuing $10.3 billion in commercial mortgage-backed securities supported by new multifamily purchases, the GSE said. Fannie also sold $5.3 billion in MBS pools and structured transactions associated with its Fannie Mae Guaranteed Multifamily Structures (GeMS) program during the six-month period. The GSE’s GeMS program offers pricing comparable to Fannie’s multifamily REMICs and mega securities. The transactions documented in the first half are in line with Fannie’s stated goal of reinvigorating the multifamily MBS business and broadening its investor base. Fannie shifted its focus from serving primarily as a multifamily portfolio market participant to an entity that serves as a source of liquidity through the securitization process. Fannie noted  it issued $2.6 billion in structured multifamily securities created from its own portfolio. Write to Kerri Panchuk.