Why is my two weeks old baby still bleeding from the umbilical cord after it has fallen off within the first week?

Not unusual: It is not unusual for there to be some minor spotting/oozing from the cord area even after the stump has come off. Thee were 3 huge blood vessels there and sometimes there is a bit of spotting. The second possibility is something called an umbilical granuloma, where a fragment of cord is still present and actively bleeds down within the umbilicus. Have pediatrician check this at next visit.