Carmel Apple Bread

I found this recipe in the September 2005 Southern Living Magazine.

Carmel Apple Bread
Makes 2 loaves
Prep: 20 minutes
Bake: 1 hour
Cool: 2 hours

10 small apples
2 cups sugar
1 cup vegetable oil
3 large eggs, lightly beaten
2 teaspoons vanilla extract
3 cups all-purpose flour
2 teaspoons ground cinnamon
1 teaspoon baking soda
1/2 teaspoon salt
2 1/2 cups chopped pecans, toasted and divided
Quick Carmel Frosting (recipe below)

Peel and finely chop apples (to equal 3 cups). Set aside.
Stir together sugar and next three ingredients in a bowl.
Stir together flour and next three ingredients; add to sugar mixture, stirring until just blended (batter will be stiff). Fold in chopped apples and 1 cup pecans.
Divide batter evenly between two greased and floured 9x5-inch loaf pans. Bake at 350 for one hour or until wooden pick inserted in center comes out clean. Remove from pans, and cool on wire racks.
Spoon warm Quick carmel frosting over loaves adn sprinkle with remaining pecans.

You can also do this is 8-inch round cake pans for an apple coffee cake. Bake for 45-50 minutes.

Quick Carmel Frosting
2 cans sweetened condensed milk
1/2 cup firmly packed light brown sugar
1/2 cup butter
1 teaspoon vanilla extract

Place all ingredients in a heavy 3-quart saucepan; bring to a boil, stirring constantly over medium-low heat. Cook 3 to 5 minutes or until mixture reaches a pudding-like thickness. Remove from heat. Optional add-ins: pecans (1 1/2 cups per recipe above), coconut (1 1/2 cups)