Shaggy Scalycap (Pholiota squarrosa)
Fruiting bodies: September – November
Area of infection: roots and trunk base
Wood decomposition: white rot
Comment: This is often confused with honey fungus.
Effect: Weak parasite - Vessels become interrupted – thinning of the crest and flaking of the bark – dying of the tree.
Recommendation: Tree should be evaluated. More photos.
  
  
Photos Shaggy Scalycap