Trees, Shrubs and Conifers: Help ID these spots?, 3 by TexasDollie

TexasDollie wrote:
Monterrey Oak, badly planted a couple years ago, (backfilled with loose compost, suffered serious neglect during first year of of establishment) but we brought it back around with some TLC our first year in this house (May 2013 to now).

Tons of new growth, but the leaves had these spots, and there's a whitish fungus looking stuff in one of the cracks of the trunk near the ground.

Ideas for what this is, (or is it two separate issues) and what, if anything, we should do about it?
Thanks in advance.