ASUS z170I mainboard temp 120c

Anyone else with a ASUS z170 ITX board getting really high mainboard temps? How about full size rigs with z170 and 8 phase power, what are your mainboard temps?

Full rig in signature.

CPUID HWMonitor shows the following for my board:
Mainboard:
Temperature 0 116 degC (240 degF) [0x74] (Mainboard)
Temperature 1 44 degC (111 degF) [0x2C] (CPU)
Temperature 0 28 degC (82 degF) [0xBC2] (TZ00)
Temperature 1 30 degC (85 degF) [0xBD6] (TZ01)
M.2 (for some reason this didn't come up in the .txt so i typed manually)
Temperature 39 degC (102 degF) (Assembly)
GPU:
Temperature 0 28 degC (82 degF) [0x1C] (TMPIN0)
CPU:
Temperature 0 34 degC (93 degF) (Core #0)
Temperature 1 33 degC (91 degF) (Core #1)
Temperature 2 53 degC (127 degF) (Core #2)
Temperature 3 49 degC (120 degF) (Core #3)
Temperature 4 53 degC (127 degF) (Package)

My rig runs great, I have a nice OC on my CPU but it isn't crazy and is 100% stable. It is an EXTREMELY cramped ITX case. But with two intake fans and a single exhaust I do OK. My idle temps are tiny bit high because my idle fans are extremely low.

That mainboard temp seems high though. Heaven benchmark does not cause the temp to rise, nor does passmark BurnInTest. Passmark BurnInTest seems to be very easy for the 6700k though, and appears to only cause maybe a 30-50% load on each of the 8 threads.

TLDR: Mainboard reads between 115degC and 120degC, never rising under load, or decreasing on idle. Is this normal / common?

EDIT: if i go into my bios it shows MOTHERBOARD TEMP : +30degC
which is about what i would expect.
After seeing that I thought it might be HWmonitor and got Speccy up.
Intel Core i7 6700K @ 4.00GHz 24 °C
16.0GB Dual-Channel Unknown @ 1580MHz (14-14-14-31)
ASUSTeK COMPUTER INC. Z170I PRO GAMING (LGA1151) 28 °C
NVIDIA GeForce GTX 1080 (EVGA) 31 °C
465GB Crucial_CT500MX200SSD4 (SSD) 40 °C
3GB Lexar USB Flash Drive USB Device (USB)

Again, this is what i would expect. Speccy doesn't report my CPU correctly, but it seems to have better temps. (it should be 102x44)

I still find it odd that HWMonitor would report over 100C... it is usually so accurate.