Assuming your H/S fan is running properly check the seating on the CPU itself, good thermal compound and a test seating will show you how well the contact with the surface area is.
With thermal compound less is always the rule of thumb, too much thermal compound will act as an insulator more than a transfer medium, you want just a thin layer of compound as thin a solid layer as you can spread, it does make a difference.
For those temps if they're accurate it sounds like the heatsink is not seated on the CPU properly, it may require you removing the M/B and inspecting the hold down mechanism to make sure its not warped or not holding to the CPU tight, the retaining mechanisms are mass produced and you could have a flawed retention mechanism.
Those temps if the M/B is reporting them accurately are dangerously high, stay concerned until you get this resolved, you may need to consider an after market cooling solution to replace your stock setup, your heatsink fan could be going bad and not putting out the RPMs it did in the beginning.