Is it engine coolant?
How's the stuffing box? There are two drain holes to divert the drippings from the stuffing box down to the bilge away from under the engine. If these holes get clogged than the water will fill up the catch basin and overflow ending up under the engine.
Maybe the raw water pump shaft seal is leaking, or the hose connections to it?
Also if you have a older type heat exchanger with the mount tabs welded to it, the welds eventually fail from vibration, causing it to crack and leak, but coolant.
Also check the hoses to the heat exchanger, the engine mounts will eventually settle, this causes one of the hoses to cut into the top of the port rear bolt that holds the engine the mount.
The settled engine also causes the shaft to become out of alignment wearing the cutlass bearing in the external strut, but that is another story.