Step 1: In a large pot or Dutch oven, brown the ground beef over medium-high heat. Drain any excess fat. Add the diced yellow onion and cook until softened, about 5 minutes.
Step 2: Stir in the diced jalapenos (or bell peppers) and minced garlic. Add the butter and cook for another 2-3 minutes until fragrant.
Step 3: Sprinkle in the taco seasoning, hot sauce, dried oregano, mustard powder, and cayenne pepper. Stir well to coat the beef and vegetables, cooking for 1 minute.
Step 4: Pour in the red enchilada sauce, undrained diced tomatoes with green chilies, drained and rinsed black beans, beef broth, and chicken broth. Bring the soup to a simmer, then reduce heat to low, cover, and let it cook for at least 15-20 minutes for flavors to meld.
Step 5: Remove the pot from the heat. Stir in the room temperature sour cream and softened cream cheese until both are fully melted and the soup is smooth and creamy. Ensure no lumps remain.
Step 6: Taste and adjust seasonings as needed. Serve hot, garnished with shredded cheddar and Monterey Jack cheeses.