Preheat the oven to 375 degrees F. Grease a 9-by-13-inch glass or light-colored metal baking pan. Set aside.
Bring the water to a boil. Place the chocolate chips in a small bowl and toss them with the 2 tablespoons of flour. This will keep them from settling at the bottom during baking. Set aside.
Place the oats and butter cubes in a large bowl. Pour the boiling water over the oat mixture, wait 30 seconds, and stir to moisten all the oats and melt the butter. Let the oat mixtures set for 25 to 30 minutes.
In a separate large bowl, whisk together the eggs, vanilla extract, both sugars, salt, baking soda, baking powder, and cinnamon until combined. Fold in the cooled oatmeal and stir until well combined. Gently fold in the remaining flour and then the chocolate chips. Pour the batter into the prepared pan.
Bake the cake for 35-40 minutes, or until a toothpick inserted in the center comes out clean. Let the cake cool on a wire rack until completely cooled.
While the cake is cooling make the cream cheese frosting. In the bowl of a standing mixer fitted with the paddle attachment, beat the butter until it is completely smooth. Add the cream cheese and beat until combined.
Add the confectioners’ sugar and vanilla and beat until smooth, about 1 minute.
Frost the cooled the cake with cream cheese frosting. Cut into pieces and serve.
Note-The frosted cake can be kept refrigerated and tightly covered, for up to 3 days. I like the cake chilled or at room temperature. You can add 3/4 cup of raisins if you wish. My dad likes this cake with raisins:)