When doing a consumer line of credit, is a truth and lending statement needed? On the itemization section what would be listed in a case of the line of credit being $10,000.00 and they draw $1,000.00 on the note date?

Think "Open End Credit" for this transaction, if it meets the definition. Recurring transactions anticipated? Finance charge imposed from time to time on outstanding balance? Repaid funds again available for draw?

You won't have a "truth in lending" statement as I think you understand that term, nor will you have an itemization of the amount financed. These are both peculiar to closed-end credit.

Instead, you will have an "initial disclosure statement" as described in §226.6 of Regulation Z.

In addition to the "initial disclosure statement", there is also the ever-popular "periodic disclosure" which you will have to mail (at inflated postage rates) once per month for the rest of your life. (See Section 226.7.)

Of course, you could deliver the disclosures electronically and avoid the inflated postage rates if you jump through all of the E-SIGN and E-Reg hoops.

Can you do a multiple advance loan up to the maximum but not open end. What would be the disclosure with this.

Sure. It's open-end credit because the available credit is replentished as payments are made--not because multiple advances are possible. You've described the garden-variety construction loan that would be disclosed under Subpart C and your numbers would be estimated in the Appendix D manner.