Water in wood can become an issue within  a home or structure. No fungus among us, why yes there is. That little bit of moisture can cause a few problems if not caught in time. Notice the wood splitting and since there is enough moisture the fungus can grow. What if the house has a pipe leaking or rain enters the house, it will take the path of least resistance, so always conduct a thorough investigation if you notice something like wood damage or wood splitting. As it meets the ground it might also continue to wash away any termiticide that was there. So termites might be on the way next.