<PAGE>
[FIRST UNION LOGO]


                                MID-STATE TRUST X
                                      2001
                         STATEMENT TO CERTIFICATEHOLDERS

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<CAPTION>
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                                             ORIGINAL      BEGINNING                      OPTIMAL                        ENDING
                              CERTIFICATE  CERTIFICATE    CERTIFICATE                    PRINCIPAL        TOTAL       CERTIFICATE
      CLASS            CUSIP     RATE        BALANCE        BALANCE        INTEREST        AMOUNT      DISTRIBUTION     BALANCE
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<S>                  <C>       <C>      <C>             <C>              <C>            <C>            <C>           <C>
       A-1           59549RAA2  6.130%  160,000,000.00  160,000,000.00     976,414.07   1,281,546.75   2,257,960.82  158,718,453.25
Factors per Thousand                                     1000.00000000     6.10258794     8.00966719    14.11225513    991.99033281
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       A-2           59549RAB0  5.940%  103,620,000.00  103,620,000.00     612,749.73     830,164.52   1,442,914.25  102,789,835.48
Factors per Thousand                                     1000.00000000     5.91343109     8.01162440    13.92505549    991.98837560
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       M-1           59549RAC8  6.280%   49,040,000.00   49,040,000.00     306,598.87     391,408.37     698,007.24   48,648,591.63
Factors per Thousand                                     1000.00000000     6.25201611     7.98141048    14.23342659    992.01858952
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       M-2           59549RAD6  6.770%   44,950,000.00   44,950,000.00     302,951.40     359,843.18     662,794.58   44,590,156.82
Factors per Thousand                                     1000.00000000     6.73974194     8.00541001    14.74515195    991.99458999
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        B            59549RAE4  7.540%   36,800,000.00   36,800,000.00     276,236.25     293,556.27     569,792.52   36,506,443.73
Factors per Thousand                                     1000.00000000     7.50641984     7.97707255    15.48349239    992.02292745
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     TOTALS                             394,410,000.00  394,410,000.00   2,474,950.32   3,156,519.09   5,631,469.41  391,253,480.91
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FIRST UNION NATIONAL BANK                                                                                           ROBERT ASHBAUGH
Structured Finance Trust Services                                                                                    VICE PRESIDENT
401 South Tryon Street, 12th Floor                                                                              PHONE: 704-383-9568
Charlotte, North Carolina  28288-1179                                                                             FAX: 704-383-6039
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<PAGE>
(FIRST UNION LOGO)

                                MID-STATE TRUST X
                                      2001
                         STATEMENT TO CERTIFICATEHOLDERS

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<CAPTION>
--------------------===============================================================================================================

SCHEDULE OF REMITTANCE                                               COLLATERAL INFORMATION
----------------------                                               ----------------------
<S>                                                  <C>             <C>                                             <C>
Collections as of the end of the Related Due Period  6,765,572.94    Aggregate Beginning Economic Balance of Loans   331,004,970.00
Investment Earnings                                      3,620.46    Aggregate Ending Economic Balance of Loans      370,428,492.35
Capitalized Interest Shortfall                         260,868.60
Pre-Funding Interest Earnings                           68,587.96
Interest Reserve Account Earnings                        2,451.05
                                                    -------------
           TOTAL AVAILABLE FUNDS:                    7,101,101.01
                                                    =============

FEES
Servicer Fee                                           341,599.00
Trustee Fee                                              6,912.04
Custody Fee                                              1,407.79
Standby Servicer Fee                                     9,833.82
                                                    -------------
                      TOTAL FEES:                       18,153.65
                                                    =============














===================================================================================================================================

FIRST UNION NATIONAL BANK                                                                                          ROBERT ASHBAUGH
Structured Finance Trust Services                                                                                   VICE PRESIDENT
401 South Tryon Street, 12th Floor                                                                             PHONE: 704-383-9568
Charlotte, North Carolina  28288-1179                                                                            FAX: 704-383-6039
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