Heat oven to 350°F.
Combine bread and raisins in large bowl.
Combine milk and ¼ 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 ½-quart casserole dish.
Bake for 40 to 50 minutes or until set in center.
Instructions for 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).
Stir in vanilla.
To serve, spoon warm pudding into individual dessert dishes; serve with sauce.
Store refrigerated.
