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Cut dried ancho or dried New Mexico red peppers and, if using, dried chipotle peppers. Open peppers; discard stems and seeds. Cut peppers into small pieces. Bring water to boiling; remove from heat. Add peppers and let stand for 45 to 60 minutes to soften. Do not drain.
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Meanwhile, in a large skillet cook stew meat, onion, oregano, and garlic in hot oil for 3 minutes. Remove from heat; set aside.
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Place half of the undrained dried peppers (and canned chipotle peppers, if using) and half of the chopped tomatoes in a food processor bowl or blender container. Cover and process or blend until nearly smooth. Strain through a fine sieve to remove pepper skins and tomato skins and seeds; discard skins and seeds. Repeat blending and straining with remaining peppers and tomatoes. Add strained mixture to onion mixture in skillet along with salt and cumin.
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Bring to boiling. Reduce heat and simmer, uncovered, for 2 to 2.5 hours or to desired consistency.
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Serve with rice, beans, sour cream, and pico de gallo.