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) January 18, 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 January 18, 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 January 18, 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: January 21, 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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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_200501_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 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:

7.460951%

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

336.288300600

14.239098400

0.000000000

322.049202200

1.456128400

Fixed

0.00

0.000000000

5.19600000%

0.000000000

33736XCT4

A-1

50,000,000.00

16,814,415.03

711,954.92

0.00

16,102,460.11

72,806.42

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

6.173105105

7.407733150%

0.00

0.000000000

7.40772627%

0.000000000

33736XDJ5

12,283,000.00

0.00

12,283,000.00

75,824.25

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 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:

7.460951%

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

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

4.444583246

Fixed

0.00

)

(11,585.20

)

(0.514481231

6.15500000%

0.000000000

33736XDY2

22,518,217.00

21,771,429.06

0.00

21,771,429.06

100,084.09

958.560142938

0.000000000

957.690669111

0.401545738

0.501137089%

0.00

0.000000000

0.50268612%

0.000000000

33736XDA4

IO-I

818,834,217.00

784,901,844.09

0.00

784,189,889.17

328,799.39

1000.000000000

0.000000000

1000.000000000

0.712850083

0.855427099%

0.00

0.000000000

0.85542010%

0.000000000

33736XDC0

IO-II

469,425,000.00

0.00

469,425,000.00

334,629.65

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

)

(11,585.20

818,834,217.00

784,901,844.09

5,545,651.42

Total

784,189,889.17

711,954.92

0.00

4,833,696.50

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:

7.460951%

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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:

7.460951%

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

1261.024516515

0.000000000

1268.353012820

0.000000000

Fixed

5,486.79

7.328496305

6.88960000%

7.328496305

COMP-I

748,692.47

944,119.56

0.00

949,606.35

0.00

1261.024537348

0.000000000

1268.353023295

0.000000000

Fixed

4,844.62

7.328485947

6.88960000%

7.328485947

COMP-II

661,066.97

833,621.67

0.00

838,466.29

0.00

1255.886707686

0.000000000

1263.056636267

0.000000000

Fixed

3,632.05

7.169928581

6.76760000%

7.169928581

COMP-III

506,567.11

636,190.90

0.00

639,822.95

0.00

Total P&I Payment

13,963.46

1,916,326.55

2,413,932.13

0.00

Total

2,427,895.59

0.00

Page 5 of 24

First Union Commercial Mortgage Securities, Inc.

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

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

4,634,723.26

)

(13,963.46

0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

5,040,303.02

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

)

(11,585.20

0.00
0.00

0.00

)

(11,585.20

4,997,250.18

)

(1,569.80

0.00
0.00

)

(161,983.90

)

(163,553.71

664,294.74

47,660.18

711,954.92

0.00
0.00
0.00
0.00
0.00
0.00

711,954.92

5,709,205.10

5,545,651.40

787,326,810.67

126

711,954.92

0.00

13,963.46

0.00

786,628,819.21

126

97,877.21

662,330.84

47,660.18

419,543.22

66,281.63

579,142.68

31,467.63

0.00
0.00

2,889.51

34,357.14

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(31,467.63

4,833,696.48

Interest Not Advanced (

Current Period

)

0.00

419,543.22

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(502,731.37

)

(79,255.76

0.00

Advance Summary (Advance Made by Servicer)

Page 6 of 24

First Union Commercial Mortgage Securities, Inc.

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

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

11,585.20

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

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

11,585.20

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

)

(11,585.20

)

(11,585.20

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

72,806.42

0.00

23.63%

24.57%

30/360

5.196000000%

0.00

A-2

720,242.95

0.00

23.63%

24.57%

30/360

6.180000000%

0.00

A-3

2,331,179.68

0.00

23.63%

24.57%

30/360

6.423000000%

0.00

184,872.78

0.00

19.50%

20.27%

30/360

6.568000000%

0.00

67,955.70

0.00

18.00%

18.70%

30/360

6.639000000%

0.00

131,829.60

0.00

15.13%

15.70%

30/360

6.720000000%

0.00

64,063.71

0.00

13.75%

14.26%

30/360

6.828000000%

0.00

73,708.24

0.00

12.25%

12.70%

30/360

7.201000000%

0.00

74,705.27

0.00

10.75%

11.13%

30/360

7.299000000%

0.00

75,824.25

0.00

9.25%

9.56%

30/360

7.407726274%

0.00

94,494.64

0.00

7.00%

7.21%

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%

4.60%

30/360

6.155000000%

0.00

20,998.81

0.00

4.00%

4.08%

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

236,699.72

100,084.09

136,615.63

0.00%

30/360

6.155000000%

)

(11,585.20

125,030.43

0.00

IO-I

328,799.39

0.00

30/360

0.502686124%

0.00

IO-II

334,629.65

0.00

30/360

0.855420099%

0.00

Z-I

0.00

30/360

0.000000000%

0.00

Z-II

0.00

30/360

0.000000000%

0.00

4,845,281.70

4,970,312.13

4,833,696.50

136,615.63

)

(11,585.20

125,030.43

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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%

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

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

(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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

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%

17-Nov-03

128

102.40%

802,929,403

98.06%

0.00%

320

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

31-Dec-04

15-Feb-05

15-Dec-04

18-Jan-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 24

Current Scheduled

Balance

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

38,381,963

4.88

7.62

1.20

0 to

2,000,000

82,608,101

10.50

7.43

1.41

2,000,000 to

4,000,000

115,394,472

14.67

7.58

1.31

4,000,000 to

6,000,000

100,946,600

12.83

7.46

1.41

6,000,000 to

8,000,000

52,404,418

6.66

7.34

1.40

8,000,000 to 10,000,000

202,389,178

25.73

7.49

1.24

10,000,000 to 15,000,000

15,240,559

1.94

7.50

1.74

15,000,000 to 20,000,000

43,261,789

5.50

7.12

2.63

20,000,000 to 25,000,000

25,318,068

3.22

7.63

1.70

25,000,000 to 30,000,000

33,330,550

4.24

7.60

1.01

30,000,000 to 35,000,000

77,353,121

9.83

7.32

1.28

35,000,000 to 40,000,000

0.00

40,000,000 &

Above

39,705,307

640,691

786,628,819

126

100.00%

Average Schedule Balance
Maximum Schedule Balance
Minimum Schedule Balance

6,243,086

Current Mortgage

Interest Rate

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

26,404,526

3.36

6.62

1.57

6.500%

6.750%

62,589,634

7.96

6.98

1.06

6.751%

7.000%

87,100,069

11.07

7.20

1.49

7.001%

7.250%

274,055,558

34.84

7.38

1.43

7.251%

7.500%

233,154,867

29.64

7.61

1.47

7.501%

7.750%

66,611,462

8.47

7.85

1.40

7.751%

8.000%

6,270,282

0.80

8.15

1.42

8.001%

8.250%

25,273,380

3.21

8.40

0.81

8.251%

8.500%

5,169,039

0.66

116

8.70

0.42

8.501%

8.750%

0.00

8.751%

Above

126

786,628,819

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

71,522,268

9.09

7.67

2.03

3,742,002

0.48

106

6.91

0.97

110

0.00

111

140

3,017,459

0.38

174

8.06

1.14

141

200

2,435,808

0.31

216

7.90

1.04

201

Above

216

80,717,537

Minimum Remaining Term

Maximum Remaining Term

10.26%

Balloon

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

66,325,236

8.43

7.36

1.14

101

626,053,698

79.59

7.43

1.37

0.00

120

4,120,939

0.52

127

8.72

0.53

121

150

6,605,068

0.84

161

8.44

1.01

151

180

0.00

181

210

2,806,341

0.36

216

7.75

1.00

211

240

0.00

241

& Above

216

112

705,911,283

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-Dec-04

15-Feb-05

15-Dec-04

18-Jan-05

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

30,895,144

3.93

7.84

0.56

0.001 0.750

23,704,599

3.01

8.00

0.83

0.751 0.875

46,870,512

5.96

7.21

0.97

0.876 1.000

77,340,224

9.83

7.54

1.04

1.001 1.125

106,239,106

13.51

7.43

1.19

1.126 1.250

87,299,985

11.10

7.44

1.32

1.251 1.375

165,422,890

21.03

7.45

1.44

1.376 1.500

92,495,023

11.76

7.51

1.56

1.501 1.625

80,967,620

10.29

7.28

1.69

1.626 1.750

31,525,716

4.01

7.35

1.83

1.751 1.875

0.00

1.876 2.000

15,988,141

2.03

7.46

2.15

2.001 2.500

0.00

2.501 3.000

23,096,437

2.94

7.58

3.50

3.001 & Above

4,783,422

0.61

7.48

0.00

Unknown

3.500
0.410

126

786,628,819

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

6,548,343

0.83

153

7.27

0.98

0.751 1.000

213,944,390

27.20

7.63

1.24

1.001 1.250

532,972,301

67.75

7.40

1.38

1.251 1.500

2,334,631

0.30

7.93

1.51

1.501 1.750

5,293,787

0.67

7.00

1.24

1.751 2.000

23,096,437

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

2,438,930

0.31

6.91

0.00

Unknown

2.080

1.000

126

786,628,819 100.00

Minimum DSCR

Maximum DSCR

Geographic

Location

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

California

111,325,086

14.15

7.53

1.51

Texas

110,223,745

14.01

7.39

0.99

Florida

89,659,803

11.40

7.41

1.40

CMBS Certificate

66,969,314

8.51

7.42

1.43

Pennsylvania

45,987,068

5.85

7.57

1.09

Michigan

43,446,662

5.52

7.55

1.37

Maryland

43,261,789

5.50

7.12

2.63

North Carolina

35,005,545

4.45

7.29

1.39

Illinois

34,032,524

4.33

7.18

1.44

New York

22,773,305

2.90

7.75

1.46

Nevada

15,772,526

2.01

7.73

1.44

New Jersey

15,710,239

2.00

8.23

0.98

Washington

14,339,995

1.82

7.60

1.23

Wisconsin

13,469,572

1.71

7.42

1.46

Virginia

13,417,433

1.71

7.34

1.60

District of Columbia

12,662,750

1.61

7.39

1.42

Iowa

12,415,871

1.58

7.75

1.43

Massachusetts

9,927,010

1.26

7.19

1.48

Arizona

9,243,939

1.18

7.28

1.26

Ohio

8,951,389

1.14

7.35

1.47

West Virginia

8,262,054

1.05

148

8.12

0.93

Minnesota

6,851,178

0.87

7.43

1.60

Indiana

6,544,204

0.83

7.74

1.35

Missouri

5,437,184

0.69

7.75

1.48

Mississippi

5,323,672

0.68

7.83

1.18

Colorado

5,004,037

0.64

7.68

1.22

Alabama

4,637,187

0.59

7.22

0.72

Georgia

3,572,559

0.45

7.25

1.66

Maine

3,214,773

0.41

7.00

0.93

Kansas

2,284,095

0.29

7.32

1.55

Oregon

2,135,919

0.27

7.88

1.05

Arkansas

2,009,448

0.26

7.22

1.42

South Carolina

1,594,865

0.20

168

8.00

1.13

Tennessee

1,162,079

0.15

7.75

1.37

100.00

786,628,819

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-Dec-04

15-Feb-05

15-Dec-04

18-Jan-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 24

Property Types

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

Multifamily

239,143,383

30.40

7.47

1.11

Retail

202,131,907

25.70

7.43

1.43

Office

138,546,672

17.61

7.40

1.45

Industrial

83,116,106

10.57

7.53

1.39

Mixed use

53,970,941

6.86

7.56

1.28

Self storage

29,321,500

3.73

7.50

1.78

Lodging

23,096,437

2.94

7.58

3.50

Mobile home park

16,003,240

2.03

7.30

1.23

Other

1,298,633

0.17

7.85

1.10

786,628,819

126

100.00%

Amortization Type

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

AmortizingBalloon

111

716,548,888

91.09

7.49

1.43

Full Amortizing

9,045,271

1.15

153

7.69

1.06

IO/Amortizing/Balloon

58,595,730

7.45

7.12

1.07

Other

2,438,930

0.31

6.91

0.00

786,628,819

126

100.00%

Number of Months

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

122

760,461,968

96.67

1.41

7.44

26,166,851

3.33

0.90

8.09

0.00

108

0.00

109

120

0.00

121

126

786,628,819

100.00%

Year

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

2005

59,414,371

7.55

7.39

1.09

2006

0.00

2007

7,753,156

0.99

7.03

1.39

2008

0.00

2009

21,921,951

2.79

7.96

0.96

2010

105

674,811,725

85.79

7.44

1.45

2011

0.00

2012

3,742,002

0.48

106

6.91

0.97

2013

0.00

2014

4,120,939

0.52

127

8.72

0.53

2015

14,864,676

1.89

183

8.14

1.04

2016 & Greater

100.00

786,628,819

126

First Union Commercial Mortgage Securities, Inc.

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

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

39,705,307

281,084

31-Dec-03

7.35000%

1-Apr-06

FUNB01CH

Multifamily

1.16

37,647,814

268,699

31-Dec-03

7.60000%

1-Jun-11

FUNB01CH

Multifamily

1.01

33,330,550

242,890

31-Dec-03

7.62500%

1-Jul-11

FUNB01CH

Office

1.70

25,318,068

184,734

31-Dec-03

7.57600%

1-Jan-11

FUNB01CG

Lodging

3.50

23,096,437

180,282

31-Dec-03

6.60000%

1-May-11

FUNB01CH

Office

1.63

20,165,352

134,118

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.74

15,240,559

119,074

31-Dec-03

7.27300%

1-May-11

FUNB01CH

Retail

1.41

14,013,207

104,270

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Mixed use

1.48

14,370,945

104,043

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Self storage

1.83

14,080,941

110,014

31-Dec-03

7.60100%

1-Jun-11

FUNB01CH

Industrial

1.23

14,339,995

104,509

31-Dec-02

7.52000%

1-Aug-11

FUNB01CH

Multifamily

1.49

14,307,204

103,336

31-Dec-03

7.18000%

1-Apr-11

FUNB01CH

Retail

1.53

14,199,337

99,786

25-Aug-03

7.44000%

1-May-11

FUNB01CH

Multifamily

0.95

12,721,378

89,641

31-Dec-03

7.51000%

1-Jan-11

FUNB01CH

Mixed use

0.51

12,405,419

90,105

31-Dec-03

7.75000%

1-Jun-11

FUNB01CH

Office

1.43

12,415,871

91,701

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.97

12,308,514

85,108

31-Dec-03

8.32700%

1-Oct-10

FUNB01CH

Multifamily

0.85

12,325,075

99,746

31-Dec-03

7.41000%

1-Jun-11

FUNB01CH

Multifamily

1.28

12,093,923

86,633

31-Dec-03

7.65000%

1-Apr-11

FUNB01CH

Office

0.81

11,379,524

83,439

31-Dec-03

7.61000%

1-Jul-11

FUNB01CH

Industrial

1.38

11,154,248

81,278

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.07

10,269,234

71,007

31-Dec-03

7.50800%

1-May-11

FUNB01CH

Retail

1.48

10,004,363

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

9,450,894

67,346

31-Dec-03

7.35000%

1-Apr-11

FUNB01CH

Retail

1.57

8,881,023

63,385

31-Dec-03

7.80000%

1-Jun-11

FUNB01CH

Retail

1.57

8,830,136

65,508

31-Dec-03

7.15000%

1-Jun-11

FUNB01CH

Office

1.37

8,689,892

60,787

31-Dec-03

7.42000%

1-Nov-10

FUNB01CH

Multifamily

1.11

8,298,243

64,941

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

1.12

8,254,230

57,075

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Industrial

1.22

7,792,154

55,010

31-Dec-03

7.92400%

1-Jul-11

FUNB01CH

Office

1.55

7,757,490

58,132

31-Dec-03

7.61800%

1-Jul-11

FUNB01CH

Mobile home park

1.18

7,687,181

56,055

31-Dec-03

6.99000%

1-Apr-11

FUNB01CH

Multifamily

0.98

7,525,916

52,039

31-Dec-03

7.27000%

1-May-11

FUNB01CH

Office

1.49

7,516,457

52,632

31-Dec-03

7.86000%

1-Jun-11

FUNB01CH

Industrial

1.51

7,474,907

55,750

31-Dec-03

7.37000%

1-Apr-11

FUNB01CH

Retail

1.48

7,385,968

52,811

31-Dec-03

7.50000%

1-Jun-11

FUNB01CH

Office

1.29

7,261,351

52,441

31-Dec-03

7.37000%

1-Mar-11

FUNB01CH

Mixed use

2.16

7,187,382

51,430

31-Dec-02

7.19000%

1-May-11

FUNB01CH

Industrial

1.36

7,045,125

49,502

31-Dec-03

8.44000%

1-Jun-18

FUNB01CH

Retail

1.01

6,605,068

61,791

31-Dec-03

7.40700%

1-Jul-11

FUNB01CH

Industrial

1.52

6,779,321

48,500

31-Dec-03

7.54000%

1-Jun-11

FUNB01CH

Multifamily

1.57

6,689,106

48,435

31-Dec-03

6.68700%

1-Apr-11

FUNB01CH

Office

1.37

6,239,174

41,887

31-Dec-03

7.39000%

1-May-11

FUNB01CH

Retail

1.75

5,799,847

41,502

31-Dec-03

7.37500%

1-May-11

FUNB01CH

Retail

1.66

5,799,155

41,441

31-Dec-03

7.15000%

1-Apr-11

FUNB01CH

Retail

1.83

5,782,391

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

5,705,890

41,052

31-Dec-03

8.50000%

1-Mar-06

FUNB01CH

Multifamily

0.41

5,683,624

44,905

31-Dec-02

7.74000%

1-May-11

FUNB01CH

Retail

1.41

5,573,285

41,154

25-Dec-03

7.30000%

1-May-06

FUNB01CH

Mixed use

1.18

5,505,893

39,078

31-Dec-03

7.75100%

1-Jul-11

FUNB01CH

Office

1.48

5,437,184

40,123

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.60

5,401,398

38,202

31-Dec-03

7.00000%

1-Apr-06

FUNB01CH

Multifamily

1.24

5,293,787

36,592

31-Dec-03

7.83000%

1-Jul-11

FUNB01CH

Mixed use

1.18

5,323,672

39,563

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.37

5,295,092

38,999

31-Dec-03

7.00000%

1-Apr-08

FUNB01CH

Mobile home park

1.49

5,101,286

35,261

31-Dec-03

7.58000%

1-Jul-11

FUNB01CH

Multifamily

1.32

5,091,037

36,997

31-Dec-03

7.45000%

1-Apr-11

FUNB01CH

Industrial

1.20

4,726,992

36,787

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

0.72

4,637,187

32,647

1-Jun-11

FUNB01CH

Office

1-Mar-04

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Industrial

1.30

4,336,083

32,080

31-Dec-03

7.67000%

1-Mar-11

FUNB01CH

Multifamily

1.24

4,303,699

31,635

31-Dec-03

8.15000%

1-Apr-11

FUNB01CH

Multifamily

1.50

4,176,637

32,003

31-Dec-03

7.70000%

1-Apr-11

FUNB01CH

Industrial

1.33

4,152,823

30,586

31-Dec-03

7.23000%

1-Apr-11

FUNB01CH

Retail

1.79

4,098,596

28,935

31-Dec-03

8.72000%

1-Aug-15

FUNB01CH

Multifamily

0.53

4,120,939

33,344

31-Dec-03

7.72400%

1-Jul-11

FUNB01CH

Office

0.74

4,047,975

29,800

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Office

1.84

3,978,709

28,140

30-Dec-03

7.92900%

1-Jun-11

FUNB01CH

Mixed use

1.32

3,836,434

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

3,585,079

27,773

31-Dec-03

7.76000%

1-Mar-11

FUNB01CH

Retail

1.01

3,629,316

26,891

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.66

3,572,559

25,241

20-Dec-03

7.12500%

1-May-11

FUNB01CH

Multifamily

1.38

3,568,913

24,928

31-Dec-03

7.25000%

1-Apr-11

FUNB01CH

Retail

1.73

3,375,874

23,876

31-Dec-03

7.41000%

1-May-11

FUNB01CH

Retail

1.30

3,372,179

24,174

31-Dec-03

7.40000%

1-Mar-11

FUNB01CH

Multifamily

1.29

3,257,809

23,375

31-Dec-03

7.51000%

1-May-11

FUNB01CH

Retail

1.25

3,241,310

23,447

31-Dec-03

7.00000%

1-Apr-11

FUNB01CH

Mobile home park

0.93

3,214,773

22,221

31-Dec-03

7.78000%

1-Jul-11

FUNB01CH

Retail

1.36

3,175,586

23,495

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Retail

1.62

3,028,176

21,434

31-Dec-03

7.25000%

1-Mar-11

FUNB01CH

Industrial

2.27

2,891,320

20,465

31-Dec-03

7.68000%

1-Jul-11

FUNB01CH

Retail

1.26

2,872,470

21,063

31-Dec-03

7.75000%

15-Jan-23

FUNB01CH

Retail

1.00

2,806,341

22,373

31-Dec-03

7.25000%

1-May-11

FUNB01CH

Retail

1.29

2,811,701

19,865

31-Dec-03

7.39500%

1-May-11

FUNB01CH

Retail

1.35

2,716,369

19,446

31-Dec-03

7.60000%

1-May-11

FUNB01CH

Office

2.03

2,711,047

19,770

31-Dec-03

7.46000%

1-May-11

FUNB01CH

Multifamily

0.97

2,669,406

19,223

31-Dec-03

7.09300%

1-May-08

FUNB01CH

Multifamily

1.20

2,651,870

18,468

31-Dec-03

7.90000%

1-Jan-23

FUNB01CH

Retail

1.04

2,435,808

21,324

31-Dec-03

7.93000%

1-Aug-11

FUNB01CH

Mixed use

1.51

2,334,631

17,493

31-Dec-03

7.00000%

1-Jul-06

FUNB01CH

Multifamily

1.21

2,317,023

15,967

31-Dec-03

7.32000%

1-Jul-11

FUNB01CH

Multifamily

1.55

2,284,095

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

2,123,938

14,637

31-Dec-03

7.87500%

1-Jun-11

FUNB01CH

Office

1.05

2,135,919

15,952

31-Dec-03

7.22000%

1-Jun-11

FUNB01CH

Multifamily

1.42

2,009,448

14,147

31-Dec-03

7.87000%

1-May-11

FUNB01CH

Retail

1.52

1,843,402

13,770

31-Dec-03

6.94200%

1-Nov-13

FUNB01CA

Retail

0.97

1,448,630

18,320

31-Dec-03

7.50000%

1-Apr-11

FUNB01CH

Retail

1.68

1,696,206

12,271

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Mixed use

1.29

1,685,983

12,473

30-Dec-03

8.00000%

15-Jan-19

FUNB01CH

Retail

1.13

1,594,865

15,111

100

31-Dec-03

7.85000%

15-Oct-10

FUNB01CH

Other

1.10

1,298,633

20,226

101

31-Dec-03

7.25000%

1-Jun-11

FUNB01CH

Retail

1.42

1,565,421

11,051

102

31-Dec-03

6.94200%

1-Nov-13

FUNB01CC

Retail

0.96

1,279,087

16,176

103

31-Dec-03

7.50000%

1-Mar-11

FUNB01CH

Multifamily

1.30

1,545,263

11,187

104

31-Dec-03

7.37500%

1-Mar-11

FUNB01CH

Multifamily

1.17

1,519,544

10,878

105

30-Dec-03

8.12500%

1-Jan-20

FUNB01CH

Retail

1.15

1,422,594

13,249

106

31-Dec-03

7.55000%

1-May-11

FUNB01CH

Retail

1.47

1,451,785

10,540

107

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Industrial

1.50

1,422,155

11,330

108

31-Dec-03

7.87500%

1-Mar-11

FUNB01CH

Mixed use

2.02

1,320,583

13,371

109

1-Jul-11

FUNB01CH

Mobile home park

1-Aug-04

110

7.62500%

1-Apr-11

FUNB01CH

Multifamily

0.00

1,296,392

9,484

111

31-Dec-03

7.50000%

30-Apr-11

FUNB01CH

Multifamily

2.24

1,237,118

8,950

112

31-Dec-03

6.82000%

1-Nov-13

FUNB01CE

Retail

0.98

1,014,284

12,765

113

31-Dec-03

7.86000%

1-May-11

FUNB01CH

Retail

1.58

1,164,168

8,688

114

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Office

1.37

1,162,079

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

1,160,537

8,456

116

31-Dec-03

7.87500%

1-Feb-11

FUNB01CH

Multifamily

1.06

1,083,224

8,121

117

8.62500%

1-Mar-11

FUNB01CH

Office

0.00

1,048,100

8,934

118

31-Dec-03

7.87000%

1-Mar-11

FUNB01CH

Retail

1.50

958,732

8,698

119

31-Dec-03

7.75000%

1-Jul-11

FUNB01CH

Multifamily

0.99

970,919

7,164

120

31-Dec-03

7.75000%

1-Apr-11

FUNB01CH

Retail

0.94

911,264

6,741

121

31-Dec-03

7.62500%

1-Apr-11

FUNB01CH

Multifamily

1.22

870,711

6,370

122

31-Dec-03

8.20000%

1-May-11

FUNB01CH

Office

1.53

671,051

5,160

123

31-Dec-03

8.37500%

1-Apr-11

FUNB01CH

Multifamily

1.32

659,614

5,153

124

31-Dec-03

8.00000%

1-Mar-11

FUNB01CH

Retail

2.20

640,691

5,210

125

6.94200%

1-Aug-11

FUNB01CB

Retail

0.00

953,938

126

6.94200%

1-Apr-06

FUNB01CD

Retail

0.00

842,291

127

6.82000%

1-Jun-11

FUNB01CF

Retail

0.00

642,702

128

786,628,819

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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-Dec-04

241,499.91

0.00

23-Apr-04

1-Oct-04

89,111.07

267,331.99

0.00

8-Oct-04

4-Jan-05

1-Dec-04

48,156.01

0.00

1-Dec-04

41,029.41

0.00

1-Dec-04

37,976.63

0.00

1-Dec-04

9,430.38

0.00

27-Oct-04

111

467,203.40

645,424.32

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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)

27-Oct-04

1,296,392

316

7.63%

1-Apr-11

Multifamily

1,297,358

Not Avail.

Not Avail. Not Avail.

111

15-Dec-03

1,048,100

255

8.63%

1-Mar-11

Office

1,048,100

Not Avail.

Not Avail. Not Avail.

118

8-Oct-04

12,721,378

320

7.44%

1-May-11

Multifamily

12,748,087

1,027,276

0.95 25-Aug-03

8-Oct-04

12,405,419

313

7.51%

1-Jan-11

Mixed use

12,405,419

552,681

0.51 31-Dec-03

23-Apr-04

33,330,550

318

7.60%

1-Jun-11

Multifamily

33,355,148

2,955,649

1.01 31-Dec-03

20-Oct-03

5,573,285

317

7.74%

1-May-11

Retail

5,573,285

696,174

1.41 31-Dec-02

66,375,123

66,427,397

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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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

The loan was transferred to Lennar for monitoring after the Borrower requested debt relief because the Property is having cash flow problems
due to structural damage from hurricanes Frances and Jeanne. The loan is current and the Borrower is paying on time.

111

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

Borrower will be coming to meet with Lender representatives in Miami to discuss property and loan. Borrower wants to pay loan off with a
waiver of the prepayment premium, indicating they can no longer justify funding the shortfall in cash flow to cover debt service and invest
new funds for capital improvement needs.

Other/TBD

Received notification October 27, 2004 that the TIC the borrowers put into place has been merged into and with our original borrower. A
recommendation for a consent to the change in ownership has been approved and a consent document is being prepared. The ownership of
the partnership is now Gersten 50%, Swolsky 25% and Swolsky's ex-wife's Trust 25%.

17-Jan-2005 - 08:14 (G292-G295, G624-G642) (c) 2005 LaSalle Bank
N.A.

Page 22 of 24

First Union Commercial Mortgage Securities, Inc.

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

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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:

18-Jan-05
18-Jan-05

15-Dec-04

15-Feb-05

31-Dec-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