I own a <10yr old house that is sided and trimmed (basically, all exterior surfaces except the roof) with this fiber product that I don't know what is. It's like MDF, but it has some fake embossed grain, and if you cut it, it is kind of held together in "layers". It's like they pressed sheets of cardboard together under high pressure.
The stuff is <10yrs old, but in some places, the paint on the "end grain" (chuckle) appears to be failing, allowing water to soak in, which causes the product to expand at that location. See the attached picture. If I press on that area, it's spongy and water droplets appear.
Anyone know what this product is called, or what I should do? My house is in a large (200+ house) community, and I see this problem on many other houses, as well, but no one has yet repainted their houses or otherwise done anything (that I'm aware of).