PUDDING:
HEAT OVEN TO 350°F.
COMBINE BREAD AND RAISINS IN LARGE BOWL.
COMBINE MILK AND 1/4 CUP BUTTER IN 1-QUART SAUCEPAN. COOK OVER MEDIUM HEAT UNTIL BUTTER IS MELTED (4 TO 7 MINUTES). POUR MILK MIXTURE OVER BREAD; LET STAND 10 MINUTES.
STIR IN ALL REMAINING PUDDING INGREDIENTS.
POUR INTO GREASED 1 1/2-QUART CASSEROLE.
BAKE FOR 40 TO 50 MINUTES OR UNTIL SET IN CENTER.
SAUCE
COMBINE ALL SAUCE INGREDIENTS EXCEPT VANILLA IN 1-QUART SAUCEPAN. COOK OVER MEDIUM HEAT, STIRRING OCCASIONALLY, UNTIL MIXTURE THICKENS AND COMES TO A FULL BOIL (5 TO 8 MINUTES).
TAKE OFF THE HEAT AND STIR IN VANILLA.
TO SERVE, SPOON WARM PUDDING INTO INDIVIDUAL DESSERT DISHES; SERVE WITH SAUCE. STORE REFRIGERATED
1/2 CUP FIRMLY PACKED BROWN SUGAR