Grandma's Old-Fashioned Bread Pudding with Vanilla Sauce

4 cups (8 slices) cubed white bread
1/2 cup raisins
2 cups milk
1/4 cup butter
1/2 cup sugar
2 eggs, slightly beaten
1 tablespoon vanilla
1/2 teaspoon ground nutmeg

Sauce Ingredients:

1/2 cup butter
1/2 cup sugar
1/2 cup heavy whipping cream
1 tablespoon vanilla

How to make it :

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