UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 16, 2004

First Union Commercial Mortgage Securities, Inc. (as depositor under the Pooling and Servicing Agreement, dated as of August 15, 2001, relating to the First Union National Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2001-C3)
(Exact name of registrant as specified in its charter)

North Carolina
(State or other jurisdiction
of incorporation)

333-53266-03
(Commission
File Number)

56-1643598
(IRS Employer
Identification No.)

201 South College Street, Charlotte, North Carolina
(Address of principal executive offices)

28288-0166
(Zip Code)

Registrant's telephone number, including area code 704-374-6161

(Former name or former address, if changed since last report.)

Item 5. Other Events and Regulation FD Disclosure.

This current report on Form 8-K relates to the monthly distribution reported to the holders of First Union National Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2001-C3, which was made on August 16, 2004.

Item 7. Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to Section 4.02 of the Pooling and Servicing Agreement for the distribution on August 16, 2004.
(Exhibit No. Description)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS PAYING AGENT UNDER THE POOLING AND SERVICING AGREEMENT ON BEHALF OF FIRST UNION COMMERCIAL MORTGAGE SECURITIES, INC., REGISTRANT

Date: August 19, 2004

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

First Union Commercial Mortgage Securities, Inc.

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Administrator:
Laura Kocha-Chaddha 312.904.0648
laura.kocha.chaddha@abnamro.com

Analyst:
Chris Suh 714.259.6266
chris.k.suh@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Shortfall Summary Report
Bond Interest Reconciliation

Asset-Backed Facts ~ 15 Month Loan Status Summary

Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Mortgage Loan Characteristics

Loan Level Detail
Delinquent Loan Detail
Specially Serviced (Part I) - Loan Detail

Page 2-5
Page 6
Page 7
Page 8

Page 9

Page 10
Page 11-13

Page 14-19
Page 20

Page 21

Specially Serviced (Part II) - Servicer Comments

Modified Loan Detail
Realized Loss Detail

Page 22

Page 23
Page 24

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

FUNB01C3

FUNB01C3_200408_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

21-Aug-01
17-Sep-01

15-Aug-11

Parties to The Transaction

Issuer: Wachovia Bank, National Association

Depositor: First Union National Bank

Underwriter: ABN AMRO Incorporated/Deutsche Banc Alex. Brown

Master Servicer: Wachovia Bank, National Association

Special Servicer: Lennar Partners, Inc.

Rating Agency: Fitch, Inc./Fitch Ratings/Standard & Poor's

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.wachovia.com

www.etrustee.net

Page 1 of 24

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.707877%

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

First Union Commercial Mortgage Securities, Inc.

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

REMIC II

Statement Date:

ABN AMRO Acct: 720357.2

426.633437000

27.920465000

0.000000000

398.712972000

1.847322800

Fixed

0.00

0.000000000

5.19600000%

0.000000000

33736XCT4

A-1

50,000,000.00

21,331,671.85

1,396,023.25

0.00

19,935,648.60

92,366.14

1000.000000000

0.000000000

1000.000000000

5.150000000

Fixed

0.00

0.000000000

6.18000000%

0.000000000

33736XCU1

A-2

139,853,000.00

0.00

139,853,000.00

720,242.95

1000.000000000

0.000000000

1000.000000000

5.352500006

Fixed

0.00

0.000000000

6.42300000%

0.000000000

33736XCV9

A-3

435,531,000.00

0.00

435,531,000.00

2,331,179.68

1000.000000000

0.000000000

1000.000000000

5.473333333

Fixed

0.00

0.000000000

6.56800000%

0.000000000

33736XCW7

33,777,000.00

0.00

33,777,000.00

184,872.78

1000.000000000

0.000000000

1000.000000000

5.532500204

Fixed

0.00

0.000000000

6.63900000%

0.000000000

33736XCX5

12,283,000.00

0.00

12,283,000.00

67,955.70

1000.000000000

0.000000000

1000.000000000

5.600000000

Fixed

0.00

0.000000000

6.72000000%

0.000000000

33736XCY3

23,541,000.00

0.00

23,541,000.00

131,829.60

1000.000000000

0.000000000

1000.000000000

5.690000000

Fixed

0.00

0.000000000

6.82800000%

0.000000000

33736XCZ0

11,259,000.00

0.00

11,259,000.00

64,063.71

1000.000000000

0.000000000

1000.000000000

6.000833673

7.201000000%

0.00

0.000000000

7.20100000%

0.000000000

33736XDE6

12,283,000.00

0.00

12,283,000.00

73,708.24

1000.000000000

0.000000000

1000.000000000

6.082500407

7.299000000%

0.00

0.000000000

7.29900000%

0.000000000

33736XDG1

12,282,000.00

0.00

12,282,000.00

74,705.27

1000.000000000

0.000000000

1000.000000000

6.379394285

7.655329378%

0.00

0.000000000

7.65527357%

0.000000000

33736XDJ5

12,283,000.00

0.00

12,283,000.00

78,358.10

1000.000000000

0.000000000

1000.000000000

5.129166802

Fixed

0.00

0.000000000

6.15500000%

0.000000000

33736XDL0

18,423,000.00

0.00

18,423,000.00

94,494.64

1000.000000000

0.000000000

1000.000000000

5.129166783

Fixed

0.00

0.000000000

6.15500000%

0.000000000

33736XDN6

14,330,000.00

0.00

14,330,000.00

73,500.96

1000.000000000

0.000000000

1000.000000000

5.129166260

Fixed

0.00

0.000000000

6.15500000%

0.000000000

33736XDQ9

6,141,000.00

0.00

6,141,000.00

31,498.21

1000.000000000

0.000000000

1000.000000000

5.129167074

Fixed

0.00

0.000000000

6.15500000%

0.000000000

33736XDS5

4,094,000.00

0.00

4,094,000.00

20,998.81

1000.000000000

0.000000000

1000.000000000

5.129166395

Fixed

0.00

0.000000000

6.15500000%

0.000000000

33736XDU0

6,142,000.00

0.00

6,142,000.00

31,503.34

1000.000000000

0.000000000

1000.000000000

5.129167074

Fixed

0.00

0.000000000

6.15500000%

0.000000000

33736XDW6

4,094,000.00

0.00

4,094,000.00

20,998.81

Page 2 of 24

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.707877%

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

First Union Commercial Mortgage Securities, Inc.

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

REMIC II

Statement Date:

ABN AMRO Acct: 720357.2

997.634925980

0.000000000

30.800458580

966.834467400

4.327023316

Fixed

0.00

)

(17,789.67

)

(0.790012371

6.15500000%

0.000000000

33736XDY2

22,518,217.00

22,464,959.75

0.00

693,571.41

21,771,388.34

97,436.85

964.923808991

0.000000000

962.371894798

0.490195111

0.605603117%

0.00

0.000000000

0.60961719%

0.000000000

33736XDA4

IO-I

818,834,217.00

790,112,631.60

0.00

788,023,036.94

401,388.53

1000.000000000

0.000000000

1000.000000000

0.919312585

1.103189099%

0.00

0.000000000

1.10317510%

0.000000000

33736XDC0

IO-II

469,425,000.00

0.00

469,425,000.00

431,548.31

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSG2922

R-I

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSG2930

R-II

0.00

Total P&I Payment

0.00

)

(17,789.67

818,834,217.00

790,112,631.60

6,418,673.88

Total

788,023,036.94

1,396,023.25

693,571.41

5,022,650.63

Page 3 of 24

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.707877%

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

First Union Commercial Mortgage Securities, Inc.

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

Grantor Trust

Statement Date:

ABN AMRO Acct: 720357.2

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSG2948

Z-I

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSG2955

Z-II

0.00

Total P&I Payment

0.00

Total

0.00

Page 4 of 24

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.707877%

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

First Union Commercial Mortgage Securities, Inc.

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

Companion

Statement Date:

ABN AMRO Acct: 720357.2

1225.009488876

0.000000000

1232.129635283

0.000000000

Fixed

5,330.80

7.120146407

6.88960000%

7.120146407

COMP-I

748,692.47

917,155.38

0.00

922,486.18

0.00

1225.009517568

0.000000000

1232.129658513

0.000000000

Fixed

4,706.89

7.120140944

6.88960000%

7.120140944

COMP-II

661,066.97

809,813.33

0.00

814,520.22

0.00

1220.640321477

0.000000000

1227.609921221

0.000000000

Fixed

3,530.57

6.969599744

6.76760000%

6.969599744

COMP-III

506,567.11

618,336.24

0.00

621,866.81

0.00

Total P&I Payment

13,568.26

1,916,326.55

2,345,304.95

0.00

Total

2,358,873.21

0.00

Page 5 of 24

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

4,873,583.69

)

(13,568.26

0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

5,075,256.06

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances

Recoup of Prior Advances

Misc. Fees & Expenses

Total Unscheduled Fees & Expenses
Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding

Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Scheduled Principal:
Current Scheduled Principal
Advanced Scheduled Principal
Scheduled Principal
Unscheduled Principal:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds
Total Unscheduled Principal
Remittance Principal

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding
Plus Current Period
Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts

PPIS Reducing Scheduled
Interest

PPIS Reducing Servicing Fee
PPIS Due Certificate

0.00

)

(8,936.53

0.00

)

(8,519.71

0.00

)

(17,789.68

5,024,230.84

)

(1,580.23

0.00
0.00
0.00

)

(1,580.23

664,714.11

22,809.36

687,523.47

0.00
0.00

708,499.78

0.00
0.00

708,499.78

1,396,023.25

6,420,254.09

6,418,673.87

792,468,971.00

127

687,523.47

0.00

13,568.26

1,402,071.19

0.00

790,392,944.60

126

86,827.76

599,333.15

22,809.36

215,240.63

22,809.36

215,240.63

33,235.54

0.00
0.00

1,386.75

34,622.29

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(33,235.54

5,022,650.62

Interest Not Advanced (

Current Period

)

0.00

215,240.63

Workout Fees
Liquidation Fees

)

(333.44

0.00

Less Non Recovered

)

(599,333.15

)

(86,827.76

0.00

Page 6 of 24

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Interest Adjustments Summary

Statement Date:

0.00

8,936.53

333.44

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

8,519.71

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

17,789.68

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

0.00

0.00

Total Excess Allocated to the Bonds

)

(17,789.68

)

(17,789.68

Aggregate Interest Adjustment Allocated to the Bonds

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Other Interest Loss

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Page 7 of 24

First Union Commercial Mortgage Securities, Inc.

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Bond Interest Reconciliation

Deductions

Allocable

Deferred &

Prior

Prepay-

Other

Additions

Interest

Credit Support

Original

Current(4)

Accrual

Int. Short-

falls Due

ment

Interest

Interest (2)

Payment

Amount

PPIS

Interest

Certificate

Accretion

Interest

Loss/Exp

Interest

Penalties

Proceeds (1)

Interest

Shortfalls

Certificate

Rate

Pass

Thru

Method Days

Outstanding

Remaining

Statement Date:

Distributable

Current Period

(Shortfall)/

Recovery

Int Accrual

on Prior

Shortfall (3)

0.00

A-1

92,366.14

0.00

23.63%

24.45%

30/360

5.196000000%

0.00

A-2

720,242.95

0.00

23.63%

24.45%

30/360

6.180000000%

0.00

A-3

2,331,179.68

0.00

23.63%

24.45%

30/360

6.423000000%

0.00

184,872.78

0.00

19.50%

20.17%

30/360

6.568000000%

0.00

67,955.70

0.00

18.00%

18.61%

30/360

6.639000000%

0.00

131,829.60

0.00

15.13%

15.62%

30/360

6.720000000%

0.00

64,063.71

0.00

13.75%

14.19%

30/360

6.828000000%

0.00

73,708.24

0.00

12.25%

12.63%

30/360

7.201000000%

0.00

74,705.27

0.00

10.75%

11.08%

30/360

7.299000000%

0.00

78,358.10

0.00

9.25%

9.52%

30/360

7.655273574%

0.00

94,494.64

0.00

7.00%

7.18%

30/360

6.155000000%

0.00

73,500.96

0.00

5.25%

5.36%

30/360

6.155000000%

0.00

31,498.21

0.00

4.50%

4.58%

30/360

6.155000000%

0.00

20,998.81

0.00

4.00%

4.06%

30/360

6.155000000%

0.00

31,503.34

0.00

3.25%

3.28%

30/360

6.155000000%

0.00

20,998.81

0.00

2.75%

2.76%

30/360

6.155000000%

0.00

115,226.52

177,834.17

97,436.85

80,397.33

0.00%

30/360

6.155000000%

)

(17,789.68

62,607.65

0.00

IO-I

401,388.53

0.00

30/360

0.609617187%

0.00

IO-II

431,548.31

0.00

30/360

1.103175099%

0.00

Z-I

0.00

30/360

0.000000000%

0.00

Z-II

0.00

30/360

0.000000000%

0.00

5,040,440.30

5,103,047.95

5,022,650.63

80,397.33

)

(17,789.68

62,607.65

0.00

(2) Accrued - Deductions + Additions Interest

(3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable.

Page 8 of 24

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(4) Determined as follows: (A) the ending balance of all the classes less (B) the sum of (i) the ending balance of the class and (ii) the ending balance of all classes which are not subordinate to the class divided by (A).

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

ABN AMRO Acct: 720357.2

0.00%

3.17%

5.24%

16-Aug-04

41,416,991

0.00%

0.79%

1,402,071

0.18%

0.00%

3.15%

5.24%

15-Jul-04

41,546,014

0.00%

0.79%

1,403,374

0.18%

0.00%

3.15%

5.24%

15-Jun-04

41,584,260

0.00%

0.79%

1,404,380

0.18%

0.00%

3.15%

5.24%

17-May-04

41,613,487

0.00%

0.79%

1,405,669

0.18%

0.00%

3.15%

1.54%

15-Apr-04

12,223,204

0.79%

0.16%

0.00%

0.79%

1,406,659

0.18%

0.00%

3.15%

1.54%

15-Mar-04

1,306,838

12,231,173

0.78%

0.16%

0.00%

1.56%

5,824,824

0.73%

0.00%

3.91%

2.08%

17-Feb-04

1,308,287

16,661,170

0.00%

0.78%

0.16%

1.56%

5,828,155

0.73%

0.00%

3.91%

2.08%

15-Jan-04

1,309,175

16,671,347

0.78%

0.16%

0.00%

1.56%

5,831,463

0.73%

0.00%

3.13%

1.95%

15-Dec-03

1,310,058

15,617,709

0.78%

0.13%

0.78%

0.16%

1.56%

5,836,057

0.73%

0.00%

3.91%

2.11%

17-Nov-03

1,065,024

1,311,210

16,941,442

0.00%

1.56%

0.68%

1.56%

5,839,310

0.73%

0.00%

3.13%

1.41%

15-Oct-03

5,473,582

11,312,892

1.56%

0.68%

0.00%

1.56%

5,843,852

0.73%

0.00%

2.34%

0.89%

15-Sep-03

5,477,803

7,157,071

0.78%

0.16%

0.00%

1.56%

5,847,051

0.73%

0.00%

2.34%

0.89%

15-Aug-03

1,314,076

7,161,127

0.00%

1.56%

5,850,228

0.73%

0.00%

2.34%

0.89%

15-Jul-03

7,165,155

0.00%

1.56%

5,854,697

0.73%

0.00%

1.56%

0.73%

16-Jun-03

5,854,697

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 9 of 24

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Series 2001-C3

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Amort

ABN AMRO Acct: 720357.2

Commercial Mortgage Pass-Through Certificates

16-Aug-04

126

100.80%

790,392,945

96.53%

0.00%

0.79%

1,402,071

0.18%

0.79%

693,571

0.09%

311

7.71%

7.65%

15-Jul-04

127

101.60%

792,468,971

96.78%

0.00%

312

7.46%

7.41%

15-Jun-04

127

101.60%

793,301,803

96.88%

0.00%

313

7.71%

7.65%

17-May-04

127

101.60%

793,966,513

96.96%

0.00%

314

7.46%

7.41%

15-Apr-04

127

101.60%

794,789,448

97.06%

0.00%

315

7.71%

7.65%

15-Mar-04

127

101.60%

795,444,659

97.14%

0.00%

0.78%

4,416,599

0.55%

0.78%

53,258

0.01%

316

7.47%

7.41%

498,344

17-Feb-04

128

102.40%

800,837,888

97.80%

0.00%

317

7.47%

7.41%

15-Jan-04

128

102.40%

801,485,034

97.88%

0.00%

318

7.71%

7.66%

15-Dec-03

128

102.40%

802,127,148

97.96%

0.00%

319

7.47%

7.41%

17-Nov-03

128

102.40%

802,929,403

98.06%

0.00%

320

7.71%

7.66%

15-Oct-03

128

102.40%

803,562,292

98.13%

0.00%

321

7.47%

7.41%

15-Sep-03

128

102.40%

804,342,790

98.23%

0.00%

322

7.71%

7.66%

15-Aug-03

128

102.40%

804,956,656

98.31%

0.00%

323

7.71%

7.66%

15-Jul-03

128

102.40%

806,205,981

98.46%

0.00%

324

7.47%

7.41%

16-Jun-03

128

102.40%

806,970,256

98.55%

0.00%

325

7.71%

7.66%

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 10 of 24

First Union Commercial Mortgage Securities, Inc.

Mortgage Loan Characteristics

ABN AMRO Acct: 720357.2

Series 2001-C3

Commercial Mortgage Pass-Through Certificates

Wachovia Bank, National Association, as Servicer

30-Jul-04

15-Sep-04

15-Jul-04

16-Aug-04

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Distribution of Mortgage Interest Rates

Distribution of Principal Balances

Distribution of Remaining Term (Balloon)

Distribution of Remaining Term (Fully Amortizing)

Page 11 of 24

Current Scheduled

Balance

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

38,678,200

4.89

7.62

1.21

0 to

2,000,000

82,993,317

10.50

7.43

1.39

2,000,000 to

4,000,000

115,884,296

14.66

7.58

1.31

4,000,000 to

6,000,000

101,419,266

12.83

7.46

1.40

6,000,000 to

8,000,000

52,659,554

6.66

7.34

1.40

8,000,000 to 10,000,000

203,317,527

25.72

7.49

1.24

10,000,000 to 15,000,000

15,348,070

1.94

7.50

1.74

15,000,000 to 20,000,000

43,519,747

5.51

7.12

2.63

20,000,000 to 25,000,000

25,419,299

3.22

7.63

1.70

25,000,000 to 30,000,000

33,465,790

4.23

7.60

1.01

30,000,000 to 35,000,000

77,687,880

9.83

7.32

1.28

35,000,000 to 40,000,000

0.00

40,000,000 &

Above

39,875,687

624,746

790,392,945

126

100.00%

Average Schedule Balance
Maximum Schedule Balance
Minimum Schedule Balance

6,272,960

Current Mortgage

Interest Rate

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

26,539,316

3.36

6.62

1.57

6.500%

6.750%

62,915,209

7.96

6.98

1.04

6.751%

7.000%

87,491,809

11.07

7.20

1.49

7.001%

7.250%

275,380,684

34.84

7.38

1.43

7.251%

7.500%

234,172,469

29.63

7.61

1.48

7.501%

7.750%

66,974,003

8.47

7.85

1.40

7.751%

8.000%

6,304,447

0.80

104

8.15

1.42

8.001%

8.250%

25,426,162

3.22

8.40

0.80

8.251%

8.500%

5,188,846

0.66

121

8.70

0.42

8.501%

8.750%

0.00

8.751%

Above

126

790,392,945

Minimum Mortgage Interest Rate
Maximum Mortgage Interest Rate

100.00%

6.600%
8.720%

Fully Amortizing

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

37,811,146

4.78

7.82

2.47

34,047,634

4.31

7.50

1.55

110

3,868,396

0.49

111

6.91

0.97

111

140

3,055,132

0.39

179

8.06

1.14

141

200

2,460,154

0.31

221

7.90

1.04

201

Above

221

81,242,461

Minimum Remaining Term

Maximum Remaining Term

10.28%

Balloon

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

66,614,364

8.43

7.36

1.14

101

628,900,523

79.57

7.43

1.36

0.00

120

4,134,630

0.52

132

8.72

0.53

121

150

6,675,573

0.84

166

8.44

0.99

151

180

0.00

181

210

2,825,393

0.36

221

7.75

1.00

211

240

0.00

241

& Above

221

112

709,150,483

Minimum Remaining Term

Maximum Remaining Term

89.72

First Union Commercial Mortgage Securities, Inc.

Mortgage Loan Characteristics

ABN AMRO Acct: 720357.2

Series 2001-C3

Commercial Mortgage Pass-Through Certificates

Wachovia Bank, National Association, as Servicer

30-Jul-04

15-Sep-04

15-Jul-04

16-Aug-04

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Geographic Distribution

Distribution of DSCR (PFY)

Distribution of DSCR (Cutoff)

Page 12 of 24

Debt Service

Coverage Ratio

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

Less than zero

34,247,504

4.33

7.76

0.55

0.001 0.750

23,812,153

3.01

8.00

0.83

0.751 0.875

50,635,315

6.41

102

7.38

0.97

0.876 1.000

71,128,638

9.00

7.46

1.05

1.001 1.125

105,857,972

13.39

7.43

1.19

1.126 1.250

85,977,127

10.88

7.43

1.32

1.251 1.375

167,026,691

21.13

7.45

1.44

1.376 1.500

94,574,168

11.97

7.51

1.56

1.501 1.625

81,367,480

10.29

7.28

1.69

1.626 1.750

31,713,648

4.01

7.36

1.83

1.751 1.875

0.00

1.876 2.000

16,075,241

2.03

7.46

2.15

2.001 2.500

0.00

2.501 3.000

23,251,185

2.94

7.58

3.50

3.001 & Above

4,725,823

0.60

7.49

0.00

Unknown

3.500
0.410

126

790,392,945

100.00%

Minimum DSCR

Maximum DSCR

Debt Service

Coverage Ratio

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

Less than zero

0.00

0.001 0.750

6,693,789

0.85

157

7.26

0.98

0.751 1.000

215,010,750

27.20

7.63

1.24

1.001 1.250

535,405,266

67.74

7.40

1.37

1.251 1.500

2,343,240

0.30

7.93

1.51

1.501 1.750

5,318,807

0.67

7.00

1.24

1.751 2.000

23,251,185

2.94

7.58

3.50

2.001 2.250

0.00

2.251 2.500

0.00

2.501 2.750

0.00

2.751 & Above

2,369,908

0.30

6.91

0.00

Unknown

2.080

1.000

126

790,392,945 100.00

Minimum DSCR

Maximum DSCR

Geographic

Location

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

California

111,792,594

14.14

7.53

1.51

Texas

110,771,662

14.01

7.39

0.99

Florida

90,039,064

11.39

7.41

1.40

CMBS Certificate

67,340,534

8.52

7.42

1.43

Pennsylvania

46,190,529

5.84

7.57

1.09

Michigan

43,667,626

5.52

7.55

1.37

Maryland

43,519,747

5.51

7.12

2.63

North Carolina

35,195,240

4.45

7.29

1.39

Illinois

34,186,389

4.33

7.18

1.44

New York

22,889,885

2.90

7.75

1.46

Nevada

15,845,749

2.00

7.73

1.44

New Jersey

15,784,458

2.00

8.23

0.99

Washington

14,398,167

1.82

7.60

1.23

Wisconsin

13,526,786

1.71

7.42

1.46

Virginia

13,476,094

1.70

7.34

1.60

District of Columbia

12,717,051

1.61

7.39

1.42

Iowa

12,464,463

1.58

7.75

1.43

Massachusetts

9,971,379

1.26

7.19

1.48

Arizona

9,284,908

1.17

7.28

1.26

Ohio

8,990,383

1.14

7.35

1.47

West Virginia

8,349,016

1.06

153

8.12

0.91

Minnesota

6,880,287

0.87

7.43

1.60

Indiana

6,569,971

0.83

7.74

1.35

Missouri

5,458,270

0.69

7.75

1.48

Mississippi

5,343,922

0.68

7.83

1.18

Colorado

5,023,911

0.64

7.68

1.22

Alabama

4,657,749

0.59

7.22

0.72

Georgia

3,588,389

0.45

7.25

1.66

Maine

3,229,966

0.41

7.00

0.47

Kansas

2,293,910

0.29

7.32

1.55

Oregon

2,144,027

0.27

7.88

1.05

Arkansas

2,018,358

0.26

7.22

1.42

South Carolina

1,615,765

0.20

173

8.00

1.13

Tennessee

1,166,696

0.15

7.75

1.37

100.00

790,392,945

126

First Union Commercial Mortgage Securities, Inc.

Mortgage Loan Characteristics

ABN AMRO Acct: 720357.2

Series 2001-C3

Commercial Mortgage Pass-Through Certificates

Wachovia Bank, National Association, as Servicer

30-Jul-04

15-Sep-04

15-Jul-04

16-Aug-04

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Distribution of Loan Seasoning

Distribution of Property Types

Distribution of Year Loans Maturing

Distribution of Amortization Type

Page 13 of 24

Property Types

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

Multifamily

240,193,336

30.39

7.47

1.11

Retail

203,160,963

25.70

7.43

1.43

Office

139,139,604

17.60

7.40

1.45

Industrial

83,477,744

10.56

7.53

1.39

Mixed use

54,213,141

6.86

7.56

1.29

Self storage

29,528,341

3.74

7.50

1.78

Lodging

23,251,185

2.94

7.58

3.50

Mobile home park

16,073,332

2.03

7.30

1.14

Other

1,355,298

0.17

7.85

1.10

790,392,945

126

100.00%

Amortization Type

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

AmortizingBalloon

111

719,927,007

91.08

7.49

1.43

Full Amortizing

9,241,500

1.17

157

7.68

1.06

IO/Amortizing/Balloon

58,854,530

7.45

7.12

1.07

Other

2,369,908

0.30

6.91

0.00

790,392,945

126

100.00%

Number of Months

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

56,584,431

7.16

1.43

7.38

123

733,808,514

92.84

1.39

7.47

0.00

108

0.00

109

120

0.00

121

126

790,392,945

100.00%

Year

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

2004

0.00

2005

59,643,266

7.55

7.39

1.09

2006

0.00

2007

7,789,443

0.99

7.03

1.39

2008

0.00

2009

22,101,704

2.80

7.95

0.96

2010

105

677,839,255

85.76

7.44

1.45

2011

0.00

2012

3,868,396

0.49

111

6.91

0.97

2013

0.00

2014

19,150,881

2.42

176

8.27

0.92

2015 & Greater

100.00

790,392,945

126

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

31-Dec-03

7.30000%

1-Aug-11

FUNB01CH

Retail

1.40

39,875,687

281,084

31-Dec-03

7.35000%

1-Apr-06

FUNB01CH

Multifamily

1.16

37,812,193

268,699

31-Dec-03

7.60000%

1-Jun-11

FUNB01CH

Multifamily

1.01

33,465,790

242,890

31-Dec-03

7.62500%

1-Jul-11

FUNB01CH

Office

1.70

25,419,299

184,734

31-Dec-03

7.57600%

1-Jan-11

FUNB01CG

Lodging

3.50

23,251,185

180,282

31-Dec-03

6.60000%

1-May-11

FUNB01CH

Office

1.63

20,268,562

134,118

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.74

15,348,070

119,074

31-Dec-03

7.27300%

1-May-11

FUNB01CH

Retail

1.41

14,099,793

104,270

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Mixed use

1.48

14,431,916

104,043

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.83

14,180,272

110,014

31-Dec-03

7.60100%

1-Jun-11

FUNB01CH

Industrial

1.23

14,398,167

104,509

31-Dec-02

7.52000%

1-Aug-11

FUNB01CH

Multifamily

1.49

14,365,504

103,336

31-Dec-03

7.18000%

1-Apr-11

FUNB01CH

Retail

1.53

14,263,790

99,786

25-Aug-03

7.44000%

1-May-11

FUNB01CH

Multifamily

0.95

12,766,476

89,641

31-Dec-03

7.51000%

1-Jan-11

FUNB01CH

Mixed use

0.51

12,458,964

90,105

31-Dec-03

7.75000%

1-Jun-11

FUNB01CH

Office

1.43

12,464,463

91,701

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.97

12,367,348

85,108

31-Dec-03

8.32700%

1-Oct-10

FUNB01CH

Multifamily

0.85

12,386,318

99,746

31-Dec-03

7.41000%

1-Jun-11

FUNB01CH

Multifamily

1.28

12,145,245

86,633

31-Dec-03

7.65000%

1-Apr-11

FUNB01CH

Office

0.81

11,425,834

83,439

31-Dec-03

7.61000%

1-Jul-11

FUNB01CH

Industrial

1.38

11,199,008

81,278

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.07

10,318,320

71,007

31-Dec-03

7.50800%

1-May-11

FUNB01CH

Retail

1.48

10,046,109

72,355

31-Dec-03

7.32400%

1-Mar-11

FUNB01CH

Office

1.61

9,492,662

67,346

31-Dec-03

7.35000%

1-Apr-11

FUNB01CH

Retail

1.57

8,919,800

63,385

Page 14 of 24

* NOI and DSCR, if available and reportable under the terms of the trust agreement, are based on information obtained from the related borrower, and no other party to the agreement shall be held liable for the accuracy or methodology used to

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

31-Dec-03

7.80000%

1-Jun-11

FUNB01CH

Retail

1.57

8,864,276

65,508

31-Dec-03

7.15000%

1-Jun-11

FUNB01CH

Office

1.37

8,729,044

60,787

31-Dec-03

7.42000%

1-Nov-10

FUNB01CH

Multifamily

1.11

8,360,088

64,941

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.12

8,293,685

57,075

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Industrial

1.22

7,827,125

55,010

31-Dec-03

7.92400%

1-Jul-11

FUNB01CH

Office

1.55

7,786,317

58,132

31-Dec-03

7.61800%

1-Jul-11

FUNB01CH

Mobile home park

1.18

7,717,969

56,055

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.98

7,561,889

52,039

31-Dec-03

7.27000%

1-May-11

FUNB01CH

Office

1.49

7,546,813

52,632

31-Dec-03

7.86000%

1-Jun-11

FUNB01CH

Industrial

1.51

7,503,386

55,750

31-Dec-03

7.37000%

1-Apr-11

FUNB01CH

Retail

1.48

7,418,068

52,811

31-Dec-03

7.50000%

1-Jun-11

FUNB01CH

Office

1.29

7,291,522

52,441

31-Dec-03

7.37000%

1-Mar-11

FUNB01CH

Mixed use

2.16

7,218,811

51,430

31-Dec-02

7.19000%

1-May-11

FUNB01CH

Industrial

1.36

7,076,772

49,502

31-Dec-02

8.44000%

1-Jun-18

FUNB01CH

Retail

0.99

6,675,573

61,791

31-Dec-03

7.40700%

1-Jul-11

FUNB01CH

Industrial

1.52

6,807,869

48,500

31-Dec-03

7.54000%

1-Jun-11

FUNB01CH

Multifamily

1.57

6,716,401

48,435

31-Dec-03

6.68700%

1-Apr-11

FUNB01CH

Office

1.37

6,270,753

41,887

31-Dec-03

7.39000%

1-May-11

FUNB01CH

Retail

1.75

5,824,727

41,502

31-Dec-03

7.37500%

1-May-11

FUNB01CH

Retail

1.66

5,824,119

41,441

31-Dec-03

7.15000%

1-Apr-11

FUNB01CH

Retail

1.83

5,808,817

40,524

31-Dec-03

7.45000%

1-May-11

FUNB01CH

Industrial

1.58

5,730,026

41,052

31-Dec-03

8.50000%

1-Mar-06

FUNB01CH

Multifamily

0.41

5,702,417

44,905

31-Dec-02

7.74000%

1-May-11

FUNB01CH

Retail

1.41

5,595,285

41,154

25-Dec-03

7.30000%

1-May-06

FUNB01CH

Mixed use

1.18

5,530,010

39,078

Page 15 of 24

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

31-Dec-03

7.75100%

1-Jul-11

FUNB01CH

Office

1.48

5,458,270

40,123

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.60

5,425,529

38,202

31-Dec-03

7.00000%

1-Apr-06

FUNB01CH

Multifamily

1.24

5,318,807

36,592

31-Dec-03

7.83000%

1-Jul-11

FUNB01CH

Mixed use

1.18

5,343,922

39,563

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.37

5,316,385

38,999

31-Dec-03

7.00000%

1-Apr-08

FUNB01CH

Mobile home park

1.49

5,125,396

35,261

31-Dec-03

7.58000%

1-Jul-11

FUNB01CH

Multifamily

1.32

5,111,613

36,997

31-Dec-03

7.45000%

1-Apr-11

FUNB01CH

Industrial

1.20

4,760,618

36,787

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

0.72

4,657,749

32,647

1-Jun-11

FUNB01CH

Office

1-Mar-04

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Industrial

1.30

4,352,780

32,080

31-Dec-03

7.67000%

1-Mar-11

FUNB01CH

Multifamily

1.24

4,321,238

31,635

31-Dec-03

8.15000%

1-Apr-11

FUNB01CH

Multifamily

1.50

4,191,668

32,003

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.33

4,169,523

30,586

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Retail

1.79

4,116,990

28,935

31-Dec-03

8.72000%

1-Aug-15

FUNB01CH

Multifamily

0.53

4,134,630

33,344

31-Dec-03

7.72400%

1-Jul-11

FUNB01CH

Office

0.74

4,063,777

29,800

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Office

1.84

3,996,484

28,140

30-Dec-03

7.92900%

1-Jun-11

FUNB01CH

Mixed use

1.32

3,850,803

28,788

31-Dec-03

7.37500%

1-Mar-11

FUNB01CH

Retail

1.83

3,611,085

27,773

31-Dec-03

7.76000%

1-Mar-11

FUNB01CH

Retail

1.01

3,643,790

26,891

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.66

3,588,389

25,241

20-Dec-03

7.12500%

1-May-11

FUNB01CH

Multifamily

1.38

3,585,183

24,928

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.73

3,390,956

23,876

31-Dec-03

7.41000%

1-May-11

FUNB01CH

Retail

1.30

3,386,577

24,174

Page 16 of 24

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

31-Dec-03

7.40000%

1-Mar-11

FUNB01CH

Multifamily

1.29

3,271,957

23,375

31-Dec-03

7.51000%

1-May-11

FUNB01CH

Retail

1.25

3,254,828

23,447

31-Dec-03

7.00000%

1-Apr-11

FUNB01CH

Mobile home park

0.47

3,229,966

22,221

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Retail

1.36

3,187,814

23,495

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Retail

1.62

3,041,787

21,434

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Industrial

2.27

2,904,316

20,465

31-Dec-03

7.68000%

1-Jul-11

FUNB01CH

Retail

1.26

2,883,804

21,063

31-Dec-03

7.75000%

15-Jan-23

FUNB01CH

Retail

1.00

2,825,393

22,373

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.29

2,824,159

19,865

31-Dec-03

7.39500%

1-May-11

FUNB01CH

Retail

1.35

2,728,008

19,446

31-Dec-03

7.60000%

1-May-11

FUNB01CH

Office

2.03

2,722,116

19,770

31-Dec-03

7.46000%

1-May-11

FUNB01CH

Multifamily

0.97

2,680,671

19,223

31-Dec-03

7.09300%

1-May-08

FUNB01CH

Multifamily

1.20

2,664,047

18,468

31-Dec-03

7.90000%

1-Jan-23

FUNB01CH

Retail

1.04

2,460,154

21,324

31-Dec-03

7.93000%

1-Aug-11

FUNB01CH

Mixed use

1.51

2,343,240

17,493

31-Dec-03

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.21

2,327,736

15,967

31-Dec-03

7.32000%

1-Jul-11

FUNB01CH

Multifamily

1.55

2,293,910

16,212

31-Dec-03

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.47

2,133,758

14,637

31-Dec-03

7.87500%

1-Jun-11

FUNB01CH

Office

1.05

2,144,027

15,952

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

1.42

2,018,358

14,147

31-Dec-03

7.87000%

1-May-11

FUNB01CH

Retail

1.52

1,850,451

13,770

31-Dec-03

6.94200%

1-Nov-13

FUNB01CA

Retail

0.97

1,497,479

18,320

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Retail

1.68

1,703,358

12,271

31-Dec-02

7.75000%

1-Apr-11

FUNB01CH

Mixed use

1.59

1,692,681

12,473

30-Dec-03

8.00000%

15-Jan-19

FUNB01CH

Retail

1.13

1,615,765

15,111

100

Page 17 of 24

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

31-Dec-03

7.85000%

15-Oct-10

FUNB01CH

Other

1.10

1,355,298

20,226

101

31-Dec-03

7.25000%

1-Jun-11

FUNB01CH

Retail

1.42

1,572,315

11,051

102

31-Dec-03

6.94200%

1-Nov-13

FUNB01CC

Retail

0.96

1,322,219

16,176

103

31-Dec-02

7.50000%

1-Mar-11

FUNB01CH

Multifamily

1.28

1,551,819

11,187

104

31-Dec-03

7.37500%

1-Mar-11

FUNB01CH

Multifamily

1.17

1,526,181

10,878

105

30-Dec-03

8.12500%

1-Jan-20

FUNB01CH

Retail

1.15

1,439,366

13,249

106

31-Dec-03

7.55000%

1-May-11

FUNB01CH

Retail

1.47

1,457,783

10,540

107

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Industrial

1.50

1,431,771

11,330

108

31-Dec-03

7.87500%

1-Mar-11

FUNB01CH

Mixed use

2.02

1,342,793

13,371

109

31-Dec-02

7.47000%

1-Jul-11

FUNB01CH

Mobile home park

1.27

9,019

1-Aug-04

1,402,071

110

7.62500%

1-Apr-11

FUNB01CH

Multifamily

0.00

1,301,699

9,484

111

31-Dec-03

7.50000%

30-Apr-11

FUNB01CH

Multifamily

2.24

1,242,335

8,950

112

31-Dec-03

6.82000%

1-Nov-13

FUNB01CE

Retail

0.98

1,048,698

12,765

113

31-Dec-03

7.86000%

1-May-11

FUNB01CH

Retail

1.58

1,168,630

8,688

114

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Office

1.37

1,166,696

8,597

115

31-Dec-03

7.58000%

1-Apr-11

FUNB01CH

Office

1.43

1,165,339

8,456

116

31-Dec-03

7.87500%

1-Feb-11

FUNB01CH

Multifamily

1.06

1,087,488

8,121

117

8.62500%

1-Mar-11

FUNB01CH

Office

0.00

1,054,216

8,934

118

31-Dec-03

7.87000%

1-Mar-11

FUNB01CH

Retail

1.50

969,928

8,698

119

31-Dec-03

7.75000%

1-Jul-11

FUNB01CH

Multifamily

0.99

974,685

7,164

120

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Retail

0.94

914,884

6,741

121

31-Dec-02

7.62500%

1-Apr-11

FUNB01CH

Multifamily

1.40

874,276

6,370

122

31-Dec-03

8.20000%

1-May-11

FUNB01CH

Office

1.53

673,413

5,160

123

31-Dec-03

8.37500%

1-Apr-11

FUNB01CH

Multifamily

1.32

661,854

5,153

124

31-Dec-03

8.00000%

1-Mar-11

FUNB01CH

Retail

2.20

644,871

5,210

125

Page 18 of 24

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.94200%

1-Aug-11

FUNB01CB

Retail

0.00

926,817

126

6.94200%

1-Apr-06

FUNB01CD

Retail

0.00

818,344

127

6.82000%

1-Jun-11

FUNB01CF

Retail

0.00

624,746

128

790,392,945

5,764,166

1,402,071

Page 19 of 24

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Delinquent Loan Detail

Disclosure

Control #

Paid

Thru
Date

Current P&I

Advance

Outstanding

P&I

Advances**

Out. Property

Protection

Advances

Loan

Status

Code (1)

Special

Servicer

Transfer Date

Foreclosure

Date

Bankruptcy

Date

REO

Date

Statement Date:

1-Jul-04

89,109.20

0.00

1-Jul-04

48,154.88

0.00

1-Jul-04

37,975.63

0.00

1-Jul-04

28,627.87

0.00

1-Jul-04

15,862.14

0.00

1-Jul-04

9,430.16

0.00

19-Nov-01

111

1-Jul-04

8,890.11

0.00

11-Dec-03

118

238,049.99

Total

Page 20 of 24

A. In Grace Period

1. Delinq. 1 month

2. Delinq. 2 months

3. Delinquent 3 + months

4. Performing Matured Balloon

** Outstanding P&I Advances include the current period P&I Advance

7. Foreclosure

9. REO

B. Late Payment but < 1 month delinq.

5. Non Performing Matured Balloon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Specially Serviced (Part I) ~ Loan Detail (End of Period)

Disclosure

Control #

Servicing

Xfer Date

Balance

Note
Rate

Maturity

Date

Remaining

Property

Type

Geo.

Location

NOI

DSCR

NOI
Date

Schedule

Actual

Life

Amort.

Statement Date:

Loan

Status

Code(1)

19-Nov-01

1,301,699

321

7.63%

1-Apr-11

Multifamily

Not Available

Not Avail.

Not Avail. Not Avail.

111

11-Dec-03

1,054,216

260

8.63%

1-Mar-11

Office

1,055,312

Not Avail.

Not Avail. Not Avail.

118

22-Apr-04

33,465,790

323

7.60%

1-Jun-11

Multifamily

33,465,790

2,955,649

1.01 31-Dec-03

20-Oct-03

5,595,285

322

7.74%

1-May-11

Retail

5,595,285

696,174

1.41 31-Dec-02

41,416,991

40,116,387

Page 21 of 24

(1) Legend:

A. P&I Adv - in Grace Period
B. P&I Adv - < one month delinq

1. P&I Adv - delinquent 1 month
2. P&I Adv - delinquent 2 months

3. P&I Adv - delinquent 3+ months
4. Mat. Balloon/Assumed P&I

7. Foreclosure

9. REO

5. Non Performing Mat. Balloon

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Specially Serviced Loan Detail (Part II) ~ Servicer Comments (End of Period)

Disclosure

Control #

Resolution

Strategy

Comments

Statement Date:

Extension

Forbearance documents and limited guarantee have been executed by Borrower, and all forbearance payments received. Loan in rehabilitation.

111

Pending Return to Master Servicer

Borrower is current although paying late. Counsel retained to research and potentially intervene in the litigation between named borrower
(sponsor is Iris Devereaux) and property owner (sponsor Nicolas Filas) to whom property was transferred in 2001 without lender consent.

118

Other/TBD

Borrower has threatened to stop funding debt service shortfall if Lender does not consider their offer to pay loan off in full with waiver of the
prepayment premium. Appraisal bids are being solicited. Borrower has offered to fund an appraisal.

Other/TBD

Information submitted by borrower confirmed transfer of Borrower interest in the property (to a related entity), without obtaining lender
consent. Contact and analysis ongoing.

12-Aug-2004 - 15:38 (G292-G295, G624-G642) (c) 2004 LaSalle Bank
N.A.

Page 22 of 24

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Modified Loan Detail

Disclosure

Control #

Modification

Date

Cutoff

Maturity

Date

Modification

Description

Modified

Maturity

Date

Statement Date:

Page 23 of 24

First Union Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

16-Aug-04
16-Aug-04

15-Jul-04

15-Sep-04

30-Jul-04

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

ABN AMRO Acct: 720357.2

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation

Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

200408

1,402,071.19

925,000.00

216,500.22

708,499.78

693,571.41

65.97%

50.53%

19-Mar-01

1,800,000.00

110

200403

4,416,599.25

4,967,194.67

603,853.36

4,363,341.31

53,257.94

112.47%

98.79%

20-Apr-01

5,900,000.00

5,818,670.44

5,892,194.67

820,353.58

5,071,841.09

746,829.35

1,402,071.19

693,571.41

708,499.78

216,500.22

925,000.00

Current Total
Cumulative

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* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

FIRST UNION COMMERCIAL MORTGAGE PASS THR CER SER 2001-C3 8-K