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) February 15, 2005

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.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01. Other Events.

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 February 15, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to Section 4.02 of the Pooling and Servicing Agreement for the distribution on February 15, 2005.

(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

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

Date: February 18, 2005

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

Administrator:
Andy Streepey 312.904.9387
andy.streepey@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
Collateral Realized Loss

Page 22

Page 23
Page 24
Page 25

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

FUNB01C3

FUNB01C3_200502_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

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 25

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:

7.460946%

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

322.049202200

14.330407400

0.000000000

307.718794800

1.394473000

Fixed

0.00

0.000000000

5.19600000%

0.000000000

33736XCT4

A-1

50,000,000.00

16,102,460.11

716,520.37

0.00

15,385,939.74

69,723.65

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

6.173110804

7.408397672%

0.00

0.000000000

7.40773315%

0.000000000

33736XDJ5

12,283,000.00

0.00

12,283,000.00

75,824.32

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

Page 2 of 25

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:

7.460946%

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

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

966.836275714

0.000000000

966.836275714

4.421557444

Fixed

0.00

)

(12,103.70

)

(0.537507033

6.15500000%

0.000000000

33736XDY2

22,518,217.00

21,771,429.06

0.00

21,771,429.06

99,565.59

957.690669111

0.000000000

956.815619736

0.399945268

0.499831933%

0.00

0.000000000

0.50113709%

0.000000000

33736XDA4

IO-I

818,834,217.00

784,189,889.17

0.00

783,473,368.80

327,488.87

1000.000000000

0.000000000

1000.000000000

0.712855919

0.856086099%

0.00

0.000000000

0.85542710%

0.000000000

33736XDC0

IO-II

469,425,000.00

0.00

469,425,000.00

334,632.39

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

)

(12,103.70

818,834,217.00

784,189,889.17

5,545,307.89

Total

783,473,368.80

716,520.37

0.00

4,828,787.52

Page 3 of 25

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:

7.460946%

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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 25

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:

7.460946%

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

1268.353012820

0.000000000

1275.723903033

0.000000000

Fixed

5,518.53

7.370890213

6.88960000%

7.370890213

COMP-I

748,692.47

949,606.35

0.00

955,124.88

0.00

1268.353023295

0.000000000

1275.723910393

0.000000000

Fixed

4,872.65

7.370887098

6.88960000%

7.370887098

COMP-II

661,066.97

838,466.29

0.00

843,338.94

0.00

1263.056636267

0.000000000

1270.267309696

0.000000000

Fixed

3,652.69

7.210673429

6.76760000%

7.210673429

COMP-III

506,567.11

639,822.95

0.00

643,475.64

0.00

Total P&I Payment

14,043.87

1,916,326.55

2,427,895.59

0.00

Total

2,441,939.46

0.00

Page 5 of 25

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

4,249,921.44

)

(14,043.87

0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

5,032,649.08

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

)

(11,577.12

0.00

)

(526.58

0.00

)

(12,103.70

4,992,197.26

)

(1,568.38

0.00
0.00

)

(161,841.38

)

(163,409.76

621,819.99

94,700.38

716,520.37

0.00
0.00
0.00
0.00
0.00
0.00

716,520.37

5,708,717.63

5,545,307.87

786,628,819.21

126

716,520.37

0.00

14,043.87

0.00

785,926,342.71

126

66,281.63

579,142.68

94,700.38

796,771.51

121,409.85

1,037,394.02

28,348.12

0.00
0.00

5,978.04

34,326.16

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(28,348.12

4,828,787.50

Interest Not Advanced (

Current Period

)

0.00

796,771.51

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(338,520.17

)

(39,572.16

0.00

Advance Summary (Advance Made by Servicer)

Page 6 of 25

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

11,577.12

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

526.58

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

12,103.70

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

)

(12,103.70

)

(12,103.70

Aggregate Interest Adjustment Allocated to the Bonds

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Page 7 of 25

First Union Commercial Mortgage Securities, Inc.

Class

Accrued

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

69,723.65

0.00

23.63%

24.60%

30/360

5.196000000%

0.00

A-2

720,242.95

0.00

23.63%

24.60%

30/360

6.180000000%

0.00

A-3

2,331,179.68

0.00

23.63%

24.60%

30/360

6.423000000%

0.00

184,872.78

0.00

19.50%

20.28%

30/360

6.568000000%

0.00

67,955.70

0.00

18.00%

18.72%

30/360

6.639000000%

0.00

131,829.60

0.00

15.13%

15.71%

30/360

6.720000000%

0.00

64,063.71

0.00

13.75%

14.28%

30/360

6.828000000%

0.00

73,708.24

0.00

12.25%

12.71%

30/360

7.201000000%

0.00

74,705.27

0.00

10.75%

11.14%

30/360

7.299000000%

0.00

75,824.32

0.00

9.25%

9.57%

30/360

7.407733150%

0.00

94,494.64

0.00

7.00%

7.22%

30/360

6.155000000%

0.00

73,500.96

0.00

5.25%

5.39%

30/360

6.155000000%

0.00

31,498.21

0.00

4.50%

4.61%

30/360

6.155000000%

0.00

20,998.81

0.00

4.00%

4.09%

30/360

6.155000000%

0.00

31,503.34

0.00

3.25%

3.30%

30/360

6.155000000%

0.00

20,998.81

0.00

2.75%

2.78%

30/360

6.155000000%

0.00

111,669.29

248,284.92

99,565.59

148,719.33

0.00%

30/360

6.155000000%

)

(12,103.70

136,615.63

0.00

IO-I

327,488.87

0.00

30/360

0.501137089%

0.00

IO-II

334,632.39

0.00

30/360

0.855427099%

0.00

Z-I

0.00

30/360

0.000000000%

0.00

Z-II

0.00

30/360

0.000000000%

0.00

4,840,891.22

4,977,506.85

4,828,787.52

148,719.33

)

(12,103.70

136,615.63

0.00

(2) Accrued - Deductions + Additions Interest

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

Page 8 of 25

(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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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%

0.79%

1.62%

0.00%

3.97%

8.27%

15-Feb-05

12,713,238

65,030,793

0.00%

0.79%

1.62%

0.00%

4.76%

8.44%

18-Jan-05

12,721,378

66,375,123

0.79%

1.62%

0.00%

4.76%

8.44%

15-Dec-04

1 12,729,466

66,423,715

0.00%

0.79%

12,740,118

1.62%

0.00%

3.97%

6.86%

15-Nov-04

54,058,337

0.00%

0.79%

1.62%

0.00%

3.17%

6.69%

15-Oct-04

12,748,087

52,796,993

0.79%

1.62%

0.00%

2.38%

5.08%

15-Sep-04

1 12,758,625

40,086,451

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

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

Page 9 of 25

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

15-Feb-05

126

100.80%

785,926,343

95.98%

0.00%

305

7.46%

7.41%

18-Jan-05

126

100.80%

786,628,819

96.07%

0.00%

306

7.46%

7.41%

15-Dec-04

126

100.80%

787,326,811

96.15%

0.00%

307

7.46%

7.41%

15-Nov-04

126

100.80%

788,181,467

96.26%

0.00%

308

7.71%

7.65%

15-Oct-04

126

100.80%

788,869,543

96.34%

0.00%

309

7.46%

7.41%

15-Sep-04

126

100.80%

789,714,659

96.44%

0.00%

310

7.71%

7.65%

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%

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

Page 10 of 25

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

31-Jan-05

15-Mar-05

18-Jan-05

15-Feb-05

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 25

Current Scheduled

Balance

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

38,324,336

4.88

7.62

1.19

0 to

2,000,000

82,536,410

10.50

7.43

1.41

2,000,000 to

4,000,000

115,304,334

14.67

7.58

1.31

4,000,000 to

6,000,000

100,858,611

12.83

7.46

1.43

6,000,000 to

8,000,000

62,353,396

7.93

7.37

1.41

8,000,000 to 10,000,000

192,220,098

24.46

7.48

1.23

10,000,000 to 15,000,000

15,219,914

1.94

7.50

1.74

15,000,000 to 20,000,000

43,212,672

5.50

7.12

2.63

20,000,000 to 25,000,000

25,299,572

3.22

7.63

1.70

25,000,000 to 30,000,000

33,305,790

4.24

7.60

1.01

30,000,000 to 35,000,000

77,291,209

9.83

7.32

1.28

35,000,000 to 40,000,000

0.00

40,000,000 &

Above

39,673,815

639,895

785,926,343

126

100.00%

Average Schedule Balance
Maximum Schedule Balance
Minimum Schedule Balance

6,237,511

Current Mortgage

Interest Rate

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

26,379,054

3.36

6.62

1.62

6.500%

6.750%

62,527,744

7.96

6.98

1.06

6.751%

7.000%

87,027,247

11.07

7.20

1.50

7.001%

7.250%

273,808,005

34.84

7.38

1.43

7.251%

7.500%

232,967,101

29.64

7.61

1.47

7.501%

7.750%

66,543,303

8.47

7.85

1.40

7.751%

8.000%

6,263,875

0.80

8.15

1.42

8.001%

8.250%

25,244,524

3.21

8.40

0.81

8.251%

8.500%

5,165,489

0.66

115

8.70

0.42

8.501%

8.750%

0.00

8.751%

Above

126

785,926,343

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

71,459,509

9.09

7.67

2.03

3,716,285

0.47

105

6.91

0.97

110

0.00

111

140

3,010,040

0.38

173

8.06

1.14

141

200

2,431,054

0.31

215

7.90

1.04

201

Above

215

80,616,887

Minimum Remaining Term

Maximum Remaining Term

10.26%

Balloon

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

66,271,747

8.43

7.36

1.14

101

625,525,191

79.59

7.43

1.37

0.00

120

4,118,539

0.52

126

8.72

0.53

121

150

6,591,281

0.84

160

8.44

1.01

151

180

0.00

181

210

2,802,697

0.36

215

7.75

1.00

211

240

0.00

241

& Above

215

112

705,309,455

Minimum Remaining Term

Maximum Remaining Term

89.74

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

31-Jan-05

15-Mar-05

18-Jan-05

15-Feb-05

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Geographic Distribution

Distribution of DSCR (PFY)

Distribution of DSCR (Cutoff)

Page 12 of 25

Debt Service

Coverage Ratio

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

Less than zero

30,872,869

3.93

7.84

0.56

0.001 0.750

23,684,753

3.01

8.00

0.83

0.751 0.875

46,808,988

5.96

7.21

0.97

0.876 1.000

77,252,089

9.83

7.54

1.04

1.001 1.125

106,147,365

13.51

7.43

1.19

1.126 1.250

80,998,620

10.31

7.50

1.32

1.251 1.375

163,280,102

20.78

7.45

1.44

1.376 1.500

100,664,970

12.81

7.45

1.56

1.501 1.625

80,892,707

10.29

7.28

1.69

1.626 1.750

31,489,995

4.01

7.35

1.83

1.751 1.875

0.00

1.876 2.000

15,971,710

2.03

7.46

2.19

2.001 2.500

0.00

2.501 3.000

23,066,832

2.93

7.58

3.50

3.001 & Above

4,795,344

0.61

7.48

0.00

Unknown

3.500
0.410

126

785,926,343

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

6,518,982

0.83

152

7.27

0.98

0.751 1.000

213,745,051

27.20

7.63

1.24

1.001 1.250

532,520,319

67.76

7.40

1.38

1.251 1.500

2,333,080

0.30

7.93

1.51

1.501 1.750

5,289,105

0.67

7.00

1.24

1.751 2.000

23,066,832

2.93

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

2,452,974

0.31

6.91

0.00

Unknown

2.080

1.000

126

785,926,343 100.00

Minimum DSCR

Maximum DSCR

Geographic

Location

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

California

111,239,097

14.15

7.53

1.51

Texas

110,121,138

14.01

7.39

0.99

Florida

89,589,892

11.40

7.41

1.40

CMBS Certificate

66,899,175

8.51

7.42

1.43

Pennsylvania

45,949,452

5.85

7.57

1.09

Michigan

43,404,924

5.52

7.55

1.37

Maryland

43,212,672

5.50

7.12

2.63

North Carolina

34,969,727

4.45

7.29

1.40

Illinois

34,003,901

4.33

7.18

1.48

New York

22,751,486

2.89

7.75

1.46

Nevada

15,758,948

2.01

7.73

1.44

New Jersey

15,696,518

2.00

8.23

0.98

Washington

14,329,346

1.82

7.60

1.23

Wisconsin

13,459,022

1.71

7.42

1.46

Virginia

13,406,576

1.71

7.34

1.60

District of Columbia

12,652,724

1.61

7.39

1.42

Iowa

12,407,029

1.58

7.75

1.43

Massachusetts

9,918,766

1.26

7.19

1.48

Arizona

9,236,340

1.18

7.28

1.26

Ohio

8,944,174

1.14

7.35

1.47

West Virginia

8,244,920

1.05

147

8.12

0.93

Minnesota

6,845,812

0.87

7.43

1.60

Indiana

6,539,511

0.83

7.74

1.35

Missouri

5,433,351

0.69

7.75

1.48

Mississippi

5,320,005

0.68

7.83

1.18

Colorado

5,000,411

0.64

7.68

1.22

Alabama

4,633,370

0.59

7.22

0.72

Georgia

3,569,622

0.45

7.25

1.66

Maine

3,211,930

0.41

7.00

0.93

Kansas

2,282,280

0.29

7.32

1.55

Oregon

2,134,452

0.27

7.88

1.05

Arkansas

2,007,794

0.26

7.22

1.51

South Carolina

1,590,741

0.20

167

8.00

1.13

Tennessee

1,161,237

0.15

7.75

1.37

100.00

785,926,343

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

31-Jan-05

15-Mar-05

18-Jan-05

15-Feb-05

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 25

Property Types

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

Multifamily

238,949,231

30.40

7.47

1.12

Retail

201,938,376

25.69

7.43

1.44

Office

138,437,242

17.61

7.40

1.46

Industrial

83,049,341

10.57

7.53

1.39

Mixed use

53,926,097

6.86

7.56

1.30

Self storage

29,281,781

3.73

7.50

1.78

Lodging

23,066,832

2.93

7.58

3.50

Mobile home park

15,990,258

2.03

7.30

1.23

Other

1,287,185

0.16

7.85

1.10

785,926,343

126

100.00%

Amortization Type

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

AmortizingBalloon

111

715,919,829

91.09

7.49

1.43

Full Amortizing

9,005,873

1.15

152

7.69

1.06

IO/Amortizing/Balloon

58,547,667

7.45

7.12

1.07

Other

2,452,974

0.31

6.91

0.00

785,926,343

126

100.00%

Number of Months

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

119

743,371,143

94.59

1.43

7.44

42,555,199

5.41

0.80

7.91

0.00

108

0.00

109

120

0.00

121

126

785,926,343

100.00%

Year

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

2005

59,372,536

7.55

7.39

1.09

2006

0.00

2007

7,746,374

0.99

7.03

1.39

2008

0.00

2009

21,887,214

2.78

7.96

0.96

2010

105

674,250,324

85.79

7.44

1.45

2011

0.00

2012

3,716,285

0.47

105

6.91

0.97

2013

0.00

2014

4,118,539

0.52

126

8.72

0.53

2015

14,835,071

1.89

182

8.14

1.04

2016 & Greater

100.00

785,926,343

126

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

39,673,815

281,084

31-Dec-03

7.35000%

1-Apr-06

FUNB01CH

Multifamily

1.16

37,617,394

268,699

31-Dec-03

7.60000%

1-Jun-11

FUNB01CH

Multifamily

1.01

33,305,790

242,890

31-Dec-03

7.62500%

1-Jul-11

FUNB01CH

Office

1.70

25,299,572

184,734

31-Dec-03

7.57600%

1-Jan-11

FUNB01CG

Lodging

3.50

23,066,832

180,282

31-Dec-03

6.60000%

1-May-11

FUNB01CH

Office

1.63

20,145,840

134,118

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.74

15,219,914

119,074

31-Dec-03

7.27300%

1-May-11

FUNB01CH

Retail

1.41

13,996,700

104,270

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Mixed use

1.48

14,359,715

104,043

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.83

14,061,867

110,014

31-Dec-03

7.60100%

1-Jun-11

FUNB01CH

Industrial

1.23

14,329,346

104,509

31-Dec-02

7.52000%

1-Aug-11

FUNB01CH

Multifamily

1.49

14,296,515

103,336

31-Dec-04

7.18000%

1-Apr-11

FUNB01CH

Retail

1.56

14,187,342

99,786

25-Aug-03

7.44000%

1-May-11

FUNB01CH

Multifamily

0.95

12,713,238

89,641

31-Dec-03

7.51000%

1-Jan-11

FUNB01CH

Mixed use

0.51

12,395,539

90,105

31-Dec-03

7.75000%

1-Jun-11

FUNB01CH

Office

1.43

12,407,029

91,701

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.97

12,297,493

85,108

31-Dec-03

8.32700%

1-Oct-10

FUNB01CH

Multifamily

0.85

12,313,705

99,746

31-Dec-03

7.41000%

1-Jun-11

FUNB01CH

Multifamily

1.28

12,084,459

86,633

31-Dec-03

7.65000%

1-Apr-11

FUNB01CH

Office

0.81

11,371,048

83,439

31-Dec-03

7.61000%

1-Jul-11

FUNB01CH

Industrial

1.38

11,146,065

81,278

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.07

10,260,039

71,007

31-Dec-03

7.50800%

1-May-11

FUNB01CH

Retail

1.48

9,996,688

72,355

Page 14 of 25

* 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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

7.32400%

1-Mar-11

FUNB01CH

Office

1.61

9,443,152

67,346

31-Dec-03

7.35000%

1-Apr-11

FUNB01CH

Retail

1.57

8,873,847

63,385

31-Dec-03

7.80000%

1-Jun-11

FUNB01CH

Retail

1.57

8,823,937

65,508

31-Dec-03

7.15000%

1-Jun-11

FUNB01CH

Office

1.37

8,682,608

60,787

31-Dec-03

7.42000%

1-Nov-10

FUNB01CH

Multifamily

1.11

8,286,323

64,941

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.12

8,246,840

57,075

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Industrial

1.22

7,785,656

55,010

31-Dec-03

7.92400%

1-Jul-11

FUNB01CH

Office

1.55

7,752,290

58,132

31-Dec-03

7.61800%

1-Jul-11

FUNB01CH

Mobile home park

1.18

7,681,554

56,055

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.98

7,519,177

52,039

31-Dec-03

7.27000%

1-May-11

FUNB01CH

Office

1.49

7,510,880

52,632

31-Dec-03

7.86000%

1-Jun-11

FUNB01CH

Industrial

1.51

7,469,750

55,750

31-Dec-03

7.37000%

1-Apr-11

FUNB01CH

Retail

1.48

7,380,031

52,811

31-Dec-03

7.50000%

1-Jun-11

FUNB01CH

Office

1.29

7,255,806

52,441

31-Dec-04

7.37000%

1-Mar-11

FUNB01CH

Mixed use

2.25

7,181,566

51,430

31-Dec-02

7.19000%

1-May-11

FUNB01CH

Industrial

1.36

7,039,242

49,502

31-Dec-03

8.44000%

1-Jun-18

FUNB01CH

Retail

1.01

6,591,281

61,791

31-Dec-03

7.40700%

1-Jul-11

FUNB01CH

Industrial

1.52

6,774,062

48,500

31-Dec-03

7.54000%

1-Jun-11

FUNB01CH

Multifamily

1.57

6,684,102

48,435

31-Dec-04

6.68700%

1-Apr-11

FUNB01CH

Office

1.58

6,233,214

41,887

31-Dec-03

7.39000%

1-May-11

FUNB01CH

Retail

1.75

5,795,253

41,502

31-Dec-03

7.37500%

1-May-11

FUNB01CH

Retail

1.66

5,794,543

41,441

31-Dec-03

7.15000%

1-Apr-11

FUNB01CH

Retail

1.83

5,777,468

40,524

Page 15 of 25

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

7.45000%

1-May-11

FUNB01CH

Industrial

1.58

5,701,443

41,052

31-Dec-03

8.50000%

1-Mar-06

FUNB01CH

Multifamily

0.41

5,680,321

44,905

31-Dec-02

7.74000%

1-May-11

FUNB01CH

Retail

1.41

5,569,277

41,154

25-Dec-03

7.30000%

1-May-06

FUNB01CH

Mixed use

1.18

5,501,426

39,078

31-Dec-03

7.75100%

1-Jul-11

FUNB01CH

Office

1.48

5,433,351

40,123

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.60

5,396,918

38,202

31-Dec-03

7.00000%

1-Apr-06

FUNB01CH

Multifamily

1.24

5,289,105

36,592

31-Dec-03

7.83000%

1-Jul-11

FUNB01CH

Mixed use

1.18

5,320,005

39,563

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.37

5,291,202

38,999

31-Dec-03

7.00000%

1-Apr-08

FUNB01CH

Mobile home park

1.49

5,096,774

35,261

31-Dec-03

7.58000%

1-Jul-11

FUNB01CH

Multifamily

1.32

5,087,270

36,997

31-Dec-03

7.45000%

1-Apr-11

FUNB01CH

Industrial

1.20

4,720,530

36,787

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

0.72

4,633,370

32,647

1-Jun-11

FUNB01CH

Office

1-Mar-04

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Industrial

1.30

4,333,052

32,080

31-Dec-03

7.67000%

1-Mar-11

FUNB01CH

Multifamily

1.24

4,300,489

31,635

31-Dec-03

8.15000%

1-Apr-11

FUNB01CH

Multifamily

1.50

4,173,946

32,003

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.33

4,149,773

30,586

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Retail

1.79

4,095,178

28,935

31-Dec-03

8.72000%

1-Aug-15

FUNB01CH

Multifamily

0.53

4,118,539

33,344

31-Dec-03

7.72400%

1-Jul-11

FUNB01CH

Office

0.74

4,045,100

29,800

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Office

1.84

3,975,408

28,140

30-Dec-03

7.92900%

1-Jun-11

FUNB01CH

Mixed use

1.32

3,833,839

28,788

Page 16 of 25

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

7.37500%

1-Mar-11

FUNB01CH

Retail

1.83

3,580,073

27,773

31-Dec-03

7.76000%

1-Mar-11

FUNB01CH

Retail

1.01

3,626,676

26,891

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.66

3,569,622

25,241

20-Dec-03

7.12500%

1-May-11

FUNB01CH

Multifamily

1.38

3,565,883

24,928

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.73

3,373,073

23,876

31-Dec-03

7.41000%

1-May-11

FUNB01CH

Retail

1.30

3,369,522

24,174

31-Dec-03

7.40000%

1-Mar-11

FUNB01CH

Multifamily

1.29

3,255,194

23,375

31-Dec-03

7.51000%

1-May-11

FUNB01CH

Retail

1.25

3,238,824

23,447

31-Dec-03

7.00000%

1-Apr-11

FUNB01CH

Mobile home park

0.93

3,211,930

22,221

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Retail

1.36

3,173,366

23,495

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Retail

1.62

3,025,647

21,434

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Industrial

2.27

2,888,905

20,465

31-Dec-03

7.68000%

1-Jul-11

FUNB01CH

Retail

1.26

2,870,404

21,063

31-Dec-03

7.75000%

15-Jan-23

FUNB01CH

Retail

1.00

2,802,697

22,373

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.29

2,809,389

19,865

31-Dec-03

7.39500%

1-May-11

FUNB01CH

Retail

1.35

2,714,221

19,446

31-Dec-03

7.60000%

1-May-11

FUNB01CH

Office

2.03

2,709,019

19,770

31-Dec-03

7.46000%

1-May-11

FUNB01CH

Multifamily

0.97

2,667,331

19,223

31-Dec-03

7.09300%

1-May-08

FUNB01CH

Multifamily

1.20

2,649,600

18,468

31-Dec-03

7.90000%

1-Jan-23

FUNB01CH

Retail

1.04

2,431,054

21,324

31-Dec-03

7.93000%

1-Aug-11

FUNB01CH

Mixed use

1.51

2,333,080

17,493

31-Dec-03

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.21

2,315,023

15,967

31-Dec-03

7.32000%

1-Jul-11

FUNB01CH

Multifamily

1.55

2,282,280

16,212

Page 17 of 25

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.47

2,122,104

14,637

31-Dec-03

7.87500%

1-Jun-11

FUNB01CH

Office

1.05

2,134,452

15,952

31-Dec-04

7.22000%

1-Jun-11

FUNB01CH

Multifamily

1.51

2,007,794

14,147

31-Dec-03

7.87000%

1-May-11

FUNB01CH

Retail

1.52

1,842,125

13,770

31-Dec-03

6.94200%

1-Nov-13

FUNB01CA

Retail

0.97

1,438,690

18,320

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Retail

1.68

1,694,889

12,271

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Mixed use

1.29

1,684,762

12,473

30-Dec-03

8.00000%

15-Jan-19

FUNB01CH

Retail

1.13

1,590,741

15,111

100

31-Dec-03

7.85000%

15-Oct-10

FUNB01CH

Other

1.10

1,287,185

20,226

101

31-Dec-03

7.25000%

1-Jun-11

FUNB01CH

Retail

1.42

1,564,143

11,051

102

31-Dec-03

6.94200%

1-Nov-13

FUNB01CC

Retail

0.96

1,270,310

16,176

103

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Multifamily

1.30

1,544,055

11,187

104

31-Dec-03

7.37500%

1-Mar-11

FUNB01CH

Multifamily

1.17

1,518,316

10,878

105

30-Dec-03

8.12500%

1-Jan-20

FUNB01CH

Retail

1.15

1,419,299

13,249

106

31-Dec-03

7.55000%

1-May-11

FUNB01CH

Retail

1.47

1,450,684

10,540

107

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Industrial

1.50

1,420,316

11,330

108

31-Dec-03

7.87500%

1-Mar-11

FUNB01CH

Mixed use

2.02

1,316,167

13,371

109

1-Jul-11

FUNB01CH

Mobile home park

1-Aug-04

110

7.62500%

1-Apr-11

FUNB01CH

Multifamily

0.00

1,295,420

9,484

111

31-Dec-03

7.50000%

30-Apr-11

FUNB01CH

Multifamily

2.24

1,236,158

8,950

112

31-Dec-03

6.82000%

1-Nov-13

FUNB01CE

Retail

0.98

1,007,284

12,765

113

31-Dec-03

7.86000%

1-May-11

FUNB01CH

Retail

1.58

1,163,359

8,688

114

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Office

1.37

1,161,237

8,597

115

Page 18 of 25

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

7.58000%

1-Apr-11

FUNB01CH

Office

1.43

1,159,655

8,456

116

31-Dec-03

7.87500%

1-Feb-11

FUNB01CH

Multifamily

1.06

1,082,449

8,121

117

8.62500%

1-Mar-11

FUNB01CH

Office

0.00

1,046,950

8,934

118

31-Dec-03

7.87000%

1-Mar-11

FUNB01CH

Retail

1.50

956,531

8,698

119

31-Dec-03

7.75000%

1-Jul-11

FUNB01CH

Multifamily

0.99

970,234

7,164

120

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Retail

0.94

910,603

6,741

121

31-Dec-03

7.62500%

1-Apr-11

FUNB01CH

Multifamily

1.22

870,058

6,370

122

31-Dec-03

8.20000%

1-May-11

FUNB01CH

Office

1.53

670,630

5,160

123

31-Dec-03

8.37500%

1-Apr-11

FUNB01CH

Multifamily

1.32

659,217

5,153

124

31-Dec-04

8.00000%

1-Mar-11

FUNB01CH

Retail

2.14

639,895

5,210

125

6.94200%

1-Aug-11

FUNB01CB

Retail

0.00

959,456

126

6.94200%

1-Apr-06

FUNB01CD

Retail

0.00

847,163

127

6.82000%

1-Jun-11

FUNB01CF

Retail

0.00

646,355

128

785,926,343

5,755,147

Page 19 of 25

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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-Jan-05

266,346.13

0.00

1-Jan-05

241,500.94

0.00

23-Apr-04

1-Jan-05

103,444.33

0.00

1-Jan-05

102,740.09

0.00

1-Oct-04

89,111.40

356,443.38

0.00

8-Oct-04

4-Jan-05

1-Jan-05

40,921.76

0.00

20-Oct-03

1-Jan-05

37,976.81

0.00

1-Jan-05

9,430.43

0.00

111

891,471.89

1,158,803.87

Total

Page 20 of 25

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 Advances and may include Servicer and Trust Advances.

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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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)

15-Dec-03

1,046,950

254

8.63%

1-Mar-11

Office

1,046,950

Not Avail.

Not Avail. Not Avail.

118

8-Oct-04

12,713,238

319

7.44%

1-May-11

Multifamily

12,748,087

1,027,276

0.95 25-Aug-03

8-Oct-04

12,395,539

312

7.51%

1-Jan-11

Mixed use

12,395,539

552,681

0.51 31-Dec-03

23-Apr-04

33,305,790

317

7.60%

1-Jun-11

Multifamily

33,330,550

2,955,649

1.01 31-Dec-03

20-Oct-03

5,569,277

316

7.74%

1-May-11

Retail

5,573,285

696,174

1.41 31-Dec-02

65,030,793

65,094,411

Page 21 of 25

(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:

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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:

Other/TBD

Loan is current. 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. Counsel contacted court and
determined that a trail date still has not been set.

118

REO

Borrower is unwilling to fund debt service going forward. Loan is due for the 08/11/2004 payment date. Borrower is marketing the property
for sale with CBRE. Foreclosure has been filed, expected foreclosure date is January 6, 2005.

Other/TBD

Met with Borrower who again offered to payoff loan with a waiver of the prepayment premium. Rejected Borrower's offer but Lender
anticipates Borrower will be remitting a revised offer.

Pending Return to Master Servicer

Received notification October 27, 2004 that the TIC the borrowers put into place has been merged into and with our original borrower. The
ownership of the partnership is now Gersten 50%, Swolsky 25% and Swolsky's ex-wife's Trust 25%. The consent to the change in ownership
has been executed, loan is now in rehab period.

14-Feb-2005 - 15:01 (G292-G295, G624-G642) (c) 2005 LaSalle Bank
N.A.

Page 22 of 25

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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 25

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

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

Current Total
Cumulative

Page 24 of 25

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

First Union Commercial Mortgage Securities, Inc.

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

15-Feb-05
15-Feb-05

18-Jan-05

15-Mar-05

31-Jan-05

Wachovia Bank, National Association, as Servicer

Commercial Mortgage Pass-Through Certificates

Series 2001-C3

Bond/Collateral Realized Loss Reconciliation

Statement Date:

ABN AMRO Acct: 720357.2

Prospectus

Period

Aggregate

Realized Loss

on Loans

Prior Realized

Loss Applied to

Certificates

Amounts Covered by

Overcollateralization

and other Credit Support

Additional (Recoveries)/

Expenses applied to

Realized Losses

Current Realized

Loss Applied to

Certififcates

Recoveries of

Realized Losses

paid as Cash

(Recoveries)/

Realized Loss

Applied to

Certificate Interest

Modification

Adjustments/Appraisal

Reduction Adjustment

Interest

(Shortages)

/Excesses applied

to Realized

Losses

Beginning

Balance of the

Loan at

Liquidation

(A)

(B)

(C)

(D)

(E)

(*)

|------------------------------------------------------Adjustments--------------------------------------------------|

53,258

4,416,599

53,258

200403

515000060

693,571

1,402,071

693,571

200408

615000110

746,829

Page 25 of 25

*In the Initial Period the Current Realized Loss Applied to Certificates will equal Aggregate Realized Loss on Loans - B - C - D + E instead of A - B - C - D + E

Description of Fields

A
B
C
D

Prior Realized Loss Applied to Certificates
Reduction to Realized Loss applied to bonds (could represent OC, insurance policies, reserve accounts, etc)

Adjustments that are based on principal haircut or future interest foregone due to modification
Realized Loss Adjustments, Supplemental Recoveries or Expenses on a previously liquidated loan

Amounts classified by the Master as interest adjustments from general collections on a loan with a Realized Loss

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