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I don’t know of anything that would prohibit it. The CFPB’s Guide to TILA-RESPA Integrated Dislcosures references different payment frequencies. https://files.consumerfinance.gov/f/201404_cfpb_tila-respa-integrated-disclosure-form.pdf (see p. 48)
37(i)(5) Principal and interest payments.
1. Statement of periodic payment frequency. The subheading required by § 1026.37(i)(5) must include the unit-period of the transaction, such as “quarterly,” “bi-weekly,” or “annual.” This unit-period should be the same as disclosed under § 1026.37(b)(3). See § 1026.37(o)(5)(i).
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