Heat oven to 350°F.

Grease bottom only of 2 (8×4- or 9×5-inch) loaf pans with shortening or cooking spray. (Do not use dark pans. )

In large bowl, beat granulated sugar, oil, vanilla, eggs and 4 oz cream cheese with electric mixer on medium speed until smooth.

Stir in apples and applesauce.

Stir in flour, apple pie spice, baking soda, baking powder and salt.

Stir in nuts and raisins.

Divide batter evenly between pans.

Bake 45 to 50 minutes or until toothpick inserted in center comes out clean.

Cool 10 minutes; remove from pans to cooling racks.

Cool completely, about 2 hours.

In microwavable bowl, microwave 2 oz cream cheese and 1 tablespoon of the milk on High about 10 seconds or just until warm.

Stir in powdered sugar and cinnamon with whisk until smooth.

Stir in remaining milk, 1 teaspoon at a time, as needed until desired consistency.

Spread icing on bread.