Put raisins and spices in a small pot, cover with water and cook for 15-20 min. Drain and reserve 1/2 c liquid. Cool slightly. Combine dry ingredients, then add applesauce, oil, reserved liquid and eggs, beat with whisk until combined. Stir in raisin mixture and nuts. Bake in 2 small greased and floured loaf pans at 350F for about 40-45 minutes or until toothpick inserted in the center comes out clean.

Combine softened butter, softened cream cheese and a pinch of salt, beat on medium speed until fluffy. Add powdered sugar and vanilla and beat until of spreading consistency. Frost tops of loaf cakes. You can add some extra chopped or ground toasted walnuts on top of the icing to make it look prettier at this point. Store in fridge, or you can store unfrosted cakes on counter for a few days.