Australian Mortgage Marketplace, intended as a non-deposit taking lender to finance "fully-featured prime mortgages" says it is looking at a launch date later this year.The new outfit will operate as a wholesale lender, dealing exclusively with leading mortgage broking companies on a 'private label' basis.And although it will have two mortgage industry veterans, Graham Andersen and Kym Dalton, on its senior management team, a pre-launch statement promises AMM will bring a new way of operating into an already crowded sector. "There has been precious little innovation and no new major funder in the Australian Mortgage Marketplace for over ten years - a period in which the market has doubled in size," said Andersen, AMM's chief executive."With no legacy systems, substantial in-house expertise and industry leading business partners, AMM will maximise the use of developments in technology to bring tangible benefits to all in the mortgage value chain."The promised innovations extend to both mortgage product design and the structure of the residential mortgage backed securities that will fund the mortgages.Foremost amongst the new technologies that AMM said it would "embrace" is distributed ledger technology - also known as blockchain - which has wide application across a range of industries.AMM said it was working with blockchain experts Block8 to develop a shared data and workflow system to "cut out layers of complexity and cost in financing mortgages".DLT provides greater transparency and trust for RMBS investors by using smart contracts to provide a "single source of truth" - in other words, consistency of information across the company, and among its investors. AMM is currently in the process of its Round 2 capital raising which will take it to "product launch" later in 2018.