Hi,
I have a Corolla LE 07, on which a couple of times there's some sort of goey- fudge like substance coming out from the hood. Not sure why this is happening; there are no leaks and absolutely no problems with the engine. It was even serviced for 5k miles and had no issues.
If someone cld help, it would be highly appreciated. Thanks

It is probably some left over grease & oil from the manufacture. Is it affecting the car performance? If not clean it off & forget it. Enjoy that cute little car. Dana

The gooey stuff is factory undercoating, or rustproofing. It's in between the metal layers of the hood where you can't see and where moisture can get in and be trapped. Toyota put several 1/4" holes along the front edge of the hood so that moisture could get out. But by doing that, it gives the gooey stuff a chance to come out. This happens from the heat of the radiator with the hood closed. It's a solid that becomes gooey.
It runs down onto the headlights and upper core support. This may happen for the first year or so, especially though the summer hot A/C season.
Use some goo-b-gone or try some mineral spirts to wipe off. This is really a good thing. Nothing to worry about.

You bought an excellent car!!