Many - I once worked for a bank in a state that required this method. It's messy and you might have problems with investors if these loans are being sold. As Randy observes, a 30-year loan will now have 361 payments.
For TIL purposes, you won't treat the odd days' interest as a PFC, but it's still included in the FC. Similarly, odd interest that is billed doesn't impact the APR quite as much as if it is prepaid, but it can't be excluded from the APR calculation all together.
Before making this switch, decide how you will handle cases where the borrower fails to make the billed interest payment. Will your note allow you to assess a late charge? Will you report a delinquency to the CB? When the first P&I payment rolls around, will you use all of it to cover as much matured interest as possible? If the matured interest exceeds the amount of the first P&I payment, will you amortize the loan negatively? If you don't amortize negatively how will you track the remaining unpaid interest? Will you be able to capture the billed interest for 1098 purposes?