Here's how I see it. There is an Albizia that looks like it was doing what they do--- grow wider than they are tall. The branch coming off at an odd angle was "sticking out", so it was cut. (Another human who thinks it can make this tree grow tall and skinny. Been there.) This wound invited a canker, it seems, but like many cankers with this tree, it heals about as fast as the canker grows.
Another wound was created when a small branch grew just above where the big branch was cut. It lived for a year or 2, and then it looks like it died and then was pruned. There is no evidence that any healing was attempted, so the branch must have been dead when cut.
Places where the bark is depressed and black are dead. Try to lift the bark and check if you see green. Your fingernail should be able to cut to the green living wood. There may be more damage than you think. I don't know where the plant is, but here in the NE US, they can be a short lived tree. I don't think there is much to do for it. BTW, there seems to be an exit wound for a borer near the top, complete with a small arm-shaped gallery.
Now for the unsolicited advice. Get another tree. No matter where you live, there is most likely a better tree to plant in that location. Albizias, ain't they pretty! Pretty invasive. Almost everywhere it grows east of the Mississippi is where it is labeled invasive. Also in some counties in NorCal and riparian sites in AZ and NM.
For an enclosed area like that, there are small Prunus species that would work. Showy flowers and a lot have no fruit. Google columnar flowering cherry or columnar flowering peach. Granted, these are also short lived trees. 20-25 years is to be expected.
A good area nursery should be able to tell you what would be best. Make sure they tell you the pros and the cons. Like this: Albizia. Pros, they can smell sweet, bloom nice, attract hummingbirds. The cons, they are short lived, have a host of disease problems, have an odd silhouette and are invasive many places. If they recommend a flowering pear, run out of there.