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) October 15, 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.)

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 October 15, 2004.

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 October 15, 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

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

Date: October 20, 2004

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-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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_200410_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:

7.460970%

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

384.873521600

17.176821400

0.000000000

367.696700200

1.666502400

Fixed

0.00

0.000000000

5.19600000%

0.000000000

33736XCT4

A-1

50,000,000.00

19,243,676.08

858,841.07

0.00

18,384,835.01

83,325.12

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

6.173093707

7.655352706%

0.00

0.000000000

7.40771268%

0.000000000

33736XDJ5

12,283,000.00

0.00

12,283,000.00

75,824.11

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:

7.460970%

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

966.836275714

0.000000000

966.836275714

4.383664124

Fixed

0.00

)

(12,956.99

)

(0.575400353

6.15500000%

0.000000000

33736XDY2

22,518,217.00

21,771,429.06

0.00

21,771,429.06

98,712.30

961.526874176

0.000000000

960.478015869

0.407009701

0.601957109%

0.00

0.000000000

0.50795423%

0.000000000

33736XDA4

IO-I

818,834,217.00

787,331,105.14

0.00

786,472,264.07

333,273.47

1000.000000000

0.000000000

1000.000000000

0.712838409

1.103212099%

0.00

0.000000000

0.85540610%

0.000000000

33736XDC0

IO-II

469,425,000.00

0.00

469,425,000.00

334,624.17

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

)

(12,956.99

818,834,217.00

787,331,105.14

5,706,152.94

Total

786,472,264.07

858,841.07

0.00

4,847,311.87

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:

7.460970%

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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:

7.460970%

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

1239.290973502

0.000000000

1246.493743953

0.000000000

Fixed

5,392.66

7.202770451

6.88960000%

7.202770451

COMP-I

748,692.47

927,847.82

0.00

933,240.48

0.00

1239.290990442

0.000000000

1246.493755391

0.000000000

Fixed

4,761.51

7.202764948

6.88960000%

7.202764948

COMP-II

661,066.97

819,254.34

0.00

824,015.85

0.00

1234.619140591

0.000000000

1241.668196737

0.000000000

Fixed

3,570.82

7.049056146

6.76760000%

7.049056146

COMP-III

506,567.11

625,417.45

0.00

628,988.27

0.00

Total P&I Payment

13,724.99

1,916,326.55

2,372,519.61

0.00

Total

2,386,244.60

0.00

Page 5 of 24

First Union Commercial Mortgage Securities, Inc.

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

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

4,420,195.60

)

(13,724.99

0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

4,893,089.54

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

)

(8,779.63

0.00

)

(4,177.36

0.00

)

(12,956.99

4,848,886.51

)

(1,574.66

0.00
0.00
0.00

)

(1,574.66

785,056.44

73,784.63

858,841.07

0.00
0.00
0.00
0.00
0.00
0.00

858,841.07

5,707,727.58

5,706,152.92

789,714,659.20

126

858,841.07

0.00

13,724.99

0.00

788,869,543.12

126

78,243.27

701,056.51

73,784.63

486,618.93

89,436.46

649,185.82

31,246.04

0.00
0.00

3,216.90

34,462.94

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(31,246.04

4,847,311.85

Interest Not Advanced (

Current Period

)

0.00

486,618.93

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(538,489.62

)

(62,591.44

0.00

Page 6 of 24

First Union Commercial Mortgage Securities, Inc.

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

15-Oct-04
15-Oct-04
15-Sep-04

15-Nov-04

30-Sep-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

8,779.63

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

4,177.36

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

12,956.99

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

)

(12,956.99

)

(12,956.99

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 24

First Union Commercial Mortgage Securities, Inc.

Class

Accrued

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

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

83,325.12

0.00

23.63%

24.50%

30/360

5.196000000%

0.00

A-2

720,242.95

0.00

23.63%

24.50%

30/360

6.180000000%

0.00

A-3

2,331,179.68

0.00

23.63%

24.50%

30/360

6.423000000%

0.00

184,872.78

0.00

19.50%

20.21%

30/360

6.568000000%

0.00

67,955.70

0.00

18.00%

18.65%

30/360

6.639000000%

0.00

131,829.60

0.00

15.13%

15.65%

30/360

6.720000000%

0.00

64,063.71

0.00

13.75%

14.22%

30/360

6.828000000%

0.00

73,708.24

0.00

12.25%

12.66%

30/360

7.201000000%

0.00

74,705.27

0.00

10.75%

11.10%

30/360

7.299000000%

0.00

75,824.11

0.00

9.25%

9.54%

30/360

7.407712682%

0.00

94,494.64

0.00

7.00%

7.19%

30/360

6.155000000%

0.00

73,500.96

0.00

5.25%

5.37%

30/360

6.155000000%

0.00

31,498.21

0.00

4.50%

4.59%

30/360

6.155000000%

0.00

20,998.81

0.00

4.00%

4.07%

30/360

6.155000000%

0.00

31,503.34

0.00

3.25%

3.29%

30/360

6.155000000%

0.00

20,998.81

0.00

2.75%

2.77%

30/360

6.155000000%

0.00

111,669.29

200,865.88

98,712.30

102,153.58

0.00%

30/360

6.155000000%

)

(12,956.99

89,196.59

0.00

IO-I

333,273.47

0.00

30/360

0.507954228%

0.00

IO-II

334,624.17

0.00

30/360

0.855406099%

0.00

Z-I

0.00

30/360

0.000000000%

0.00

Z-II

0.00

30/360

0.000000000%

0.00

4,860,268.86

4,949,465.45

4,847,311.87

102,153.58

)

(12,956.99

89,196.59

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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%

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

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

(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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

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%

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%

(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-Sep-04

15-Nov-04

15-Sep-04

15-Oct-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

38,559,477

4.89

7.62

1.20

0 to

2,000,000

82,837,312

10.50

7.43

1.39

2,000,000 to

4,000,000

115,685,437

14.66

7.58

1.31

4,000,000 to

6,000,000

101,227,868

12.83

7.46

1.41

6,000,000 to

8,000,000

52,556,335

6.66

7.34

1.40

8,000,000 to 10,000,000

202,941,388

25.73

7.49

1.24

10,000,000 to 15,000,000

15,304,846

1.94

7.50

1.74

15,000,000 to 20,000,000

43,415,811

5.50

7.12

2.63

20,000,000 to 25,000,000

25,378,138

3.22

7.63

1.70

25,000,000 to 30,000,000

33,410,824

4.24

7.60

1.01

30,000,000 to 35,000,000

77,552,108

9.83

7.32

1.28

35,000,000 to 40,000,000

0.00

40,000,000 &

Above

39,806,573

631,867

788,869,543

126

100.00%

Average Schedule Balance
Maximum Schedule Balance
Minimum Schedule Balance

6,260,869

Current Mortgage

Interest Rate

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

26,484,891

3.36

6.62

1.57

6.500%

6.750%

62,783,959

7.96

6.98

1.04

6.751%

7.000%

87,333,097

11.07

7.20

1.49

7.001%

7.250%

274,844,482

34.84

7.38

1.43

7.251%

7.500%

233,759,611

29.63

7.61

1.48

7.501%

7.750%

66,827,561

8.47

7.85

1.40

7.751%

8.000%

6,290,642

0.80

102

8.15

1.42

8.001%

8.250%

25,364,536

3.22

8.40

0.81

8.251%

8.500%

5,180,764

0.66

119

8.70

0.42

8.501%

8.750%

0.00

8.751%

Above

126

788,869,543

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

45,406,894

5.76

7.71

2.26

30,133,984

3.82

7.51

1.55

110

0.00

111

140

3,040,083

0.39

177

8.06

1.14

141

200

2,450,407

0.31

219

7.90

1.04

201

Above

219

81,031,367

Minimum Remaining Term

Maximum Remaining Term

10.27%

Balloon

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

66,497,107

8.43

7.36

1.14

101

627,746,958

79.58

7.43

1.36

0.00

120

4,129,017

0.52

130

8.72

0.53

121

150

6,647,366

0.84

164

8.44

1.01

151

180

0.00

181

210

2,817,728

0.36

219

7.75

1.00

211

240

0.00

241

& Above

219

112

707,838,176

Minimum Remaining Term

Maximum Remaining Term

89.73

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-Sep-04

15-Nov-04

15-Sep-04

15-Oct-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

34,191,553

4.33

7.76

0.55

0.001 0.750

23,768,528

3.01

8.00

0.83

0.751 0.875

43,837,638

5.56

7.22

0.97

0.876 1.000

77,617,212

9.84

7.54

1.04

1.001 1.125

105,659,692

13.39

7.43

1.19

1.126 1.250

87,519,703

11.09

7.44

1.32

1.251 1.375

166,729,418

21.14

7.45

1.44

1.376 1.500

92,724,556

11.75

7.51

1.56

1.501 1.625

81,205,772

10.29

7.28

1.69

1.626 1.750

31,637,904

4.01

7.36

1.83

1.751 1.875

0.00

1.876 2.000

16,040,079

2.03

7.46

2.15

2.001 2.500

0.00

2.501 3.000

23,188,919

2.94

7.58

3.50

3.001 & Above

4,748,569

0.60

7.49

0.00

Unknown

3.500
0.410

126

788,869,543

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

6,636,001

0.84

156

7.27

0.98

0.751 1.000

214,579,400

27.20

7.63

1.24

1.001 1.250

534,419,531

67.74

7.40

1.37

1.251 1.500

2,339,729

0.30

7.93

1.51

1.501 1.750

5,308,684

0.67

7.00

1.24

1.751 2.000

23,188,919

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

2,397,279

0.30

6.91

0.00

Unknown

2.080

1.000

126

788,869,543 100.00

Minimum DSCR

Maximum DSCR

Geographic

Location

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

California

111,602,772

14.15

7.53

1.51

Texas

110,550,074

14.01

7.39

0.99

Florida

89,885,136

11.39

7.41

1.40

CMBS Certificate

67,190,717

8.52

7.42

1.43

Pennsylvania

46,108,017

5.84

7.57

1.09

Michigan

43,578,446

5.52

7.55

1.37

Maryland

43,415,811

5.50

7.12

2.63

North Carolina

35,118,667

4.45

7.29

1.39

Illinois

34,124,059

4.33

7.18

1.44

New York

22,842,744

2.90

7.75

1.46

Nevada

15,816,076

2.00

7.73

1.44

New Jersey

15,754,371

2.00

8.23

0.99

Washington

14,374,524

1.82

7.60

1.23

Wisconsin

13,503,566

1.71

7.42

1.46

Virginia

13,452,307

1.71

7.34

1.60

District of Columbia

12,695,020

1.61

7.39

1.42

Iowa

12,444,689

1.58

7.75

1.43

Massachusetts

9,953,401

1.26

7.19

1.48

Arizona

9,268,302

1.17

7.28

1.26

Ohio

8,974,569

1.14

7.35

1.47

West Virginia

8,314,283

1.05

151

8.12

0.93

Minnesota

6,868,474

0.87

7.43

1.60

Indiana

6,559,487

0.83

7.74

1.35

Missouri

5,449,687

0.69

7.75

1.48

Mississippi

5,335,674

0.68

7.83

1.18

Colorado

5,015,828

0.64

7.68

1.22

Alabama

4,649,416

0.59

7.22

0.72

Georgia

3,581,973

0.45

7.25

1.66

Maine

3,223,819

0.41

7.00

0.47

Kansas

2,289,929

0.29

7.32

1.55

Oregon

2,140,724

0.27

7.88

1.05

Arkansas

2,014,747

0.26

7.22

1.42

South Carolina

1,607,420

0.20

171

8.00

1.13

Tennessee

1,164,818

0.15

7.75

1.37

100.00

788,869,543

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-Sep-04

15-Nov-04

15-Sep-04

15-Oct-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

239,767,513

30.39

7.47

1.12

Retail

202,745,221

25.70

7.43

1.43

Office

138,899,014

17.61

7.40

1.45

Industrial

83,331,030

10.56

7.53

1.39

Mixed use

54,114,950

6.86

7.56

1.28

Self storage

29,445,183

3.73

7.50

1.78

Lodging

23,188,919

2.94

7.58

3.50

Mobile home park

16,044,912

2.03

7.30

1.14

Other

1,332,801

0.17

7.85

1.10

788,869,543

126

100.00%

Amortization Type

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

AmortizingBalloon

111

718,559,160

91.09

7.49

1.43

Full Amortizing

9,163,456

1.16

155

7.69

1.06

IO/Amortizing/Balloon

58,749,648

7.45

7.12

1.07

Other

2,397,279

0.30

6.91

0.00

788,869,543

126

100.00%

Number of Months

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

125

784,740,526

99.48

1.40

7.45

4,129,017

0.52

130

0.53

8.72

0.00

108

0.00

109

120

0.00

121

126

788,869,543

100.00%

Year

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

2004

0.00

2005

59,550,190

7.55

7.39

1.09

2006

0.00

2007

7,774,758

0.99

7.03

1.39

2008

0.00

2009

22,029,562

2.79

7.95

0.96

2010

105

676,612,160

85.77

7.44

1.45

2011

0.00

2012

3,818,273

0.48

109

6.91

0.97

2013

0.00

2014

19,084,601

2.42

174

8.27

0.93

2015 & Greater

100.00

788,869,543

126

First Union Commercial Mortgage Securities, Inc.

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

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

39,806,573

281,084

31-Dec-03

7.35000%

1-Apr-06

FUNB01CH

Multifamily

1.16

37,745,534

268,699

31-Dec-03

7.60000%

1-Jun-11

FUNB01CH

Multifamily

1.01

33,410,824

242,890

31-Dec-03

7.62500%

1-Jul-11

FUNB01CH

Office

1.70

25,378,138

184,734

31-Dec-03

7.57600%

1-Jan-11

FUNB01CG

Lodging

3.50

23,188,919

180,282

31-Dec-03

6.60000%

1-May-11

FUNB01CH

Office

1.63

20,226,892

134,118

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.74

15,304,846

119,074

31-Dec-03

7.27300%

1-May-11

FUNB01CH

Retail

1.41

14,064,918

104,270

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Mixed use

1.48

14,407,168

104,043

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.83

14,140,337

110,014

31-Dec-03

7.60100%

1-Jun-11

FUNB01CH

Industrial

1.23

14,374,524

104,509

31-Dec-02

7.52000%

1-Aug-11

FUNB01CH

Multifamily

1.49

14,341,816

103,336

31-Dec-03

7.18000%

1-Apr-11

FUNB01CH

Retail

1.53

14,237,684

99,786

25-Aug-03

7.44000%

1-May-11

FUNB01CH

Multifamily

0.95

12,748,087

89,641

31-Dec-03

7.51000%

1-Jan-11

FUNB01CH

Mixed use

0.51

12,437,238

90,105

31-Dec-03

7.75000%

1-Jun-11

FUNB01CH

Office

1.43

12,444,689

91,701

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.97

12,343,550

85,108

31-Dec-03

8.32700%

1-Oct-10

FUNB01CH

Multifamily

0.85

12,361,516

99,746

31-Dec-03

7.41000%

1-Jun-11

FUNB01CH

Multifamily

1.28

12,124,417

86,633

31-Dec-03

7.65000%

1-Apr-11

FUNB01CH

Office

0.81

11,407,012

83,439

31-Dec-03

7.61000%

1-Jul-11

FUNB01CH

Industrial

1.38

11,180,811

81,278

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.07

10,298,465

71,007

31-Dec-03

7.50800%

1-May-11

FUNB01CH

Retail

1.48

10,029,157

72,355

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

7.32400%

1-Mar-11

FUNB01CH

Office

1.61

9,475,729

67,346

31-Dec-03

7.35000%

1-Apr-11

FUNB01CH

Retail

1.57

8,904,075

63,385

31-Dec-03

7.80000%

1-Jun-11

FUNB01CH

Retail

1.57

8,850,377

65,508

31-Dec-03

7.15000%

1-Jun-11

FUNB01CH

Office

1.37

8,713,184

60,787

31-Dec-03

7.42000%

1-Nov-10

FUNB01CH

Multifamily

1.11

8,335,244

64,941

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.12

8,277,726

57,075

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Industrial

1.22

7,812,955

55,010

31-Dec-03

7.92400%

1-Jul-11

FUNB01CH

Office

1.55

7,774,564

58,132

31-Dec-03

7.61800%

1-Jul-11

FUNB01CH

Mobile home park

1.18

7,705,451

56,055

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.98

7,547,338

52,039

31-Dec-03

7.27000%

1-May-11

FUNB01CH

Office

1.49

7,534,482

52,632

31-Dec-03

7.86000%

1-Jun-11

FUNB01CH

Industrial

1.51

7,491,786

55,750

31-Dec-03

7.37000%

1-Apr-11

FUNB01CH

Retail

1.48

7,405,049

52,811

31-Dec-03

7.50000%

1-Jun-11

FUNB01CH

Office

1.29

7,279,269

52,441

31-Dec-03

7.37000%

1-Mar-11

FUNB01CH

Mixed use

2.16

7,206,066

51,430

31-Dec-02

7.19000%

1-May-11

FUNB01CH

Industrial

1.36

7,063,950

49,502

31-Dec-03

8.44000%

1-Jun-18

FUNB01CH

Retail

1.01

6,647,366

61,791

31-Dec-03

7.40700%

1-Jul-11

FUNB01CH

Industrial

1.52

6,796,281

48,500

31-Dec-03

7.54000%

1-Jun-11

FUNB01CH

Multifamily

1.57

6,705,310

48,435

31-Dec-03

6.68700%

1-Apr-11

FUNB01CH

Office

1.37

6,257,999

41,887

31-Dec-03

7.39000%

1-May-11

FUNB01CH

Retail

1.75

5,814,633

41,502

31-Dec-03

7.37500%

1-May-11

FUNB01CH

Retail

1.66

5,813,992

41,441

31-Dec-03

7.15000%

1-Apr-11

FUNB01CH

Retail

1.83

5,798,115

40,524

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

7.45000%

1-May-11

FUNB01CH

Industrial

1.58

5,720,229

41,052

31-Dec-03

8.50000%

1-Mar-06

FUNB01CH

Multifamily

0.41

5,694,716

44,905

31-Dec-02

7.74000%

1-May-11

FUNB01CH

Retail

1.41

5,586,335

41,154

25-Dec-03

7.30000%

1-May-06

FUNB01CH

Mixed use

1.18

5,520,232

39,078

31-Dec-03

7.75100%

1-Jul-11

FUNB01CH

Office

1.48

5,449,687

40,123

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.60

5,415,750

38,202

31-Dec-03

7.00000%

1-Apr-06

FUNB01CH

Multifamily

1.24

5,308,684

36,592

31-Dec-03

7.83000%

1-Jul-11

FUNB01CH

Mixed use

1.18

5,335,674

39,563

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.37

5,307,727

38,999

31-Dec-03

7.00000%

1-Apr-08

FUNB01CH

Mobile home park

1.49

5,115,641

35,261

31-Dec-03

7.58000%

1-Jul-11

FUNB01CH

Multifamily

1.32

5,103,250

36,997

31-Dec-03

7.45000%

1-Apr-11

FUNB01CH

Industrial

1.20

4,747,101

36,787

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

0.72

4,649,416

32,647

1-Jun-11

FUNB01CH

Office

1-Mar-04

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Industrial

1.30

4,345,982

32,080

31-Dec-03

7.67000%

1-Mar-11

FUNB01CH

Multifamily

1.24

4,314,109

31,635

31-Dec-03

8.15000%

1-Apr-11

FUNB01CH

Multifamily

1.50

4,185,531

32,003

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.33

4,162,733

30,586

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Retail

1.79

4,109,537

28,935

31-Dec-03

8.72000%

1-Aug-15

FUNB01CH

Multifamily

0.53

4,129,017

33,344

31-Dec-03

7.72400%

1-Jul-11

FUNB01CH

Office

0.74

4,057,347

29,800

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Office

1.84

3,989,280

28,140

30-Dec-03

7.92900%

1-Jun-11

FUNB01CH

Mixed use

1.32

3,844,946

28,788

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

7.37500%

1-Mar-11

FUNB01CH

Retail

1.83

3,600,635

27,773

31-Dec-03

7.76000%

1-Mar-11

FUNB01CH

Retail

1.01

3,637,903

26,891

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.66

3,581,973

25,241

20-Dec-03

7.12500%

1-May-11

FUNB01CH

Multifamily

1.38

3,578,594

24,928

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.73

3,384,844

23,876

31-Dec-03

7.41000%

1-May-11

FUNB01CH

Retail

1.30

3,380,735

24,174

31-Dec-03

7.40000%

1-Mar-11

FUNB01CH

Multifamily

1.29

3,266,218

23,375

31-Dec-03

7.51000%

1-May-11

FUNB01CH

Retail

1.25

3,249,339

23,447

31-Dec-03

7.00000%

1-Apr-11

FUNB01CH

Mobile home park

0.47

3,223,819

22,221

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Retail

1.36

3,182,836

23,495

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Retail

1.62

3,036,272

21,434

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Industrial

2.27

2,899,050

20,465

31-Dec-03

7.68000%

1-Jul-11

FUNB01CH

Retail

1.26

2,879,193

21,063

31-Dec-03

7.75000%

15-Jan-23

FUNB01CH

Retail

1.00

2,817,728

22,373

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.29

2,819,109

19,865

31-Dec-03

7.39500%

1-May-11

FUNB01CH

Retail

1.35

2,723,286

19,446

31-Dec-03

7.60000%

1-May-11

FUNB01CH

Office

2.03

2,717,618

19,770

31-Dec-03

7.46000%

1-May-11

FUNB01CH

Multifamily

0.97

2,676,098

19,223

31-Dec-03

7.09300%

1-May-08

FUNB01CH

Multifamily

1.20

2,659,117

18,468

31-Dec-03

7.90000%

1-Jan-23

FUNB01CH

Retail

1.04

2,450,407

21,324

31-Dec-03

7.93000%

1-Aug-11

FUNB01CH

Mixed use

1.51

2,339,729

17,493

31-Dec-03

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.21

2,323,400

15,967

31-Dec-03

7.32000%

1-Jul-11

FUNB01CH

Multifamily

1.55

2,289,929

16,212

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.47

2,129,784

14,637

31-Dec-03

7.87500%

1-Jun-11

FUNB01CH

Office

1.05

2,140,724

15,952

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

1.42

2,014,747

14,147

31-Dec-03

7.87000%

1-May-11

FUNB01CH

Retail

1.52

1,847,580

13,770

31-Dec-03

6.94200%

1-Nov-13

FUNB01CA

Retail

0.97

1,478,109

18,320

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Retail

1.68

1,700,455

12,271

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Mixed use

1.29

1,689,957

12,473

30-Dec-03

8.00000%

15-Jan-19

FUNB01CH

Retail

1.13

1,607,420

15,111

100

31-Dec-03

7.85000%

15-Oct-10

FUNB01CH

Other

1.10

1,332,801

20,226

101

31-Dec-03

7.25000%

1-Jun-11

FUNB01CH

Retail

1.42

1,569,520

11,051

102

31-Dec-03

6.94200%

1-Nov-13

FUNB01CC

Retail

0.96

1,305,115

16,176

103

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Multifamily

1.30

1,549,158

11,187

104

31-Dec-03

7.37500%

1-Mar-11

FUNB01CH

Multifamily

1.17

1,523,489

10,878

105

30-Dec-03

8.12500%

1-Jan-20

FUNB01CH

Retail

1.15

1,432,663

13,249

106

31-Dec-03

7.55000%

1-May-11

FUNB01CH

Retail

1.47

1,455,346

10,540

107

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Industrial

1.50

1,427,902

11,330

108

31-Dec-03

7.87500%

1-Mar-11

FUNB01CH

Mixed use

2.02

1,333,940

13,371

109

1-Jul-11

FUNB01CH

Mobile home park

1-Aug-04

110

7.62500%

1-Apr-11

FUNB01CH

Multifamily

0.00

1,299,543

9,484

111

31-Dec-03

7.50000%

30-Apr-11

FUNB01CH

Multifamily

2.24

1,240,217

8,950

112

31-Dec-03

6.82000%

1-Nov-13

FUNB01CE

Retail

0.98

1,035,049

12,765

113

31-Dec-03

7.86000%

1-May-11

FUNB01CH

Retail

1.58

1,166,813

8,688

114

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Office

1.37

1,164,818

8,597

115

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

7.58000%

1-Apr-11

FUNB01CH

Office

1.43

1,163,388

8,456

116

31-Dec-03

7.87500%

1-Feb-11

FUNB01CH

Multifamily

1.06

1,085,753

8,121

117

8.62500%

1-Mar-11

FUNB01CH

Office

0.00

1,051,747

8,934

118

31-Dec-03

7.87000%

1-Mar-11

FUNB01CH

Retail

1.50

965,453

8,698

119

31-Dec-03

7.75000%

1-Jul-11

FUNB01CH

Multifamily

0.99

973,152

7,164

120

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Retail

0.94

913,411

6,741

121

31-Dec-02

7.62500%

1-Apr-11

FUNB01CH

Multifamily

1.40

872,828

6,370

122

31-Dec-03

8.20000%

1-May-11

FUNB01CH

Office

1.53

672,447

5,160

123

31-Dec-03

8.37500%

1-Apr-11

FUNB01CH

Multifamily

1.32

660,937

5,153

124

31-Dec-03

8.00000%

1-Mar-11

FUNB01CH

Retail

2.20

643,188

5,210

125

6.94200%

1-Aug-11

FUNB01CB

Retail

0.00

937,572

126

6.94200%

1-Apr-06

FUNB01CD

Retail

0.00

827,840

127

6.82000%

1-Jun-11

FUNB01CF

Retail

0.00

631,867

128

788,869,543

5,755,147

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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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-Sep-04

241,496.29

0.00

22-Apr-04

1-Jul-04

89,109.86

267,328.58

0.00

8-Oct-04

1-Sep-04

63,014.06

0.00

1-Sep-04

37,975.99

0.00

1-Sep-04

36,589.00

0.00

1-Sep-04

31,828.12

0.00

1-Sep-04

33,171.57

0.00

1-Sep-04

9,430.24

0.00

111

1-Sep-04

8,898.23

0.00

112

1-Sep-04

8,890.20

0.00

11-Dec-03

118

560,403.56

738,622.28

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 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-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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)

11-Dec-03

1,051,747

258

8.63%

1-Mar-11

Office

1,053,112

Not Avail.

Not Avail. Not Avail.

118

8-Oct-04

12,748,087

323

7.44%

1-May-11

Multifamily

12,774,277

1,027,276

0.95 25-Aug-03

22-Apr-04

33,410,824

321

7.60%

1-Jun-11

Multifamily

33,441,915

2,955,649

1.01 31-Dec-03

20-Oct-03

5,586,335

320

7.74%

1-May-11

Retail

5,586,335

696,174

1.41 31-Dec-02

52,796,993

52,855,638

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:

15-Oct-04
15-Oct-04
15-Sep-04

15-Nov-04

30-Sep-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:

Other/TBD

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.

13-Oct-2004 - 08:37 (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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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:

15-Oct-04
15-Oct-04

15-Sep-04

15-Nov-04

30-Sep-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

Current Total
Cumulative

Page 24 of 24

* 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