Large tree with some trunk rot?

[Knownfactor]

We have a fairly large tree in our back yard that seems to be rotting from the outside in. Almost looks like it's bleeding water. It's constantly wet. Any help fixing this is much appreciated. Unsure what type of tree it is. See pix below

 

[Knownfactor]

 

[ATH]

box elder with slime flux (also called bacterial wet wood)