Preheat oven to 350°F. Mix flour, cinnamon, baking powder and salt in large bowl. Set aside.
Beat egg in medium bowl. Stir in applesauce, brown sugar, milk and oil. Add to flour mixture; stir just until moistened. (Batter will be lumpy.) Stir in 1/2 cup of the walnuts and raisins. Pour batter into 9x5-inch loaf pan sprayed with no stick cooking spray. Sprinkle top evenly with remaining 1/2 cup walnuts.
Bake 55 to 60 minutes or until toothpick inserted in center comes out clean. Cool in pan 10 minutes. Remove from pan; cool completely on wire rack.