Preheat oven to 350° and spray two 9 x 5 baking pans or a 13 x 9 baking dish with non stick spray. Set aside.
In a medium sauce pan, cook raisins and shortening in 2 cups water for 10 minutes. Remove from heat and let cool. Do not drain the water.
Next add 1 cup of water and 2 more cups of flour. Stir.
Cook at 350° for 40-50 minutes or until tooth pick inserted in the center comes out clean. *might need more time, start checking at 40 minutes.
In a large bowl, beat butter and cream cheese together until smooth.
Add vanilla, mix, then slowly add powdered sugar and beat until creamy.
Frost cake once it has cooled completely.