Preheat oven to 350F.
Brown meat and drain excess fat, add taco seasoning and water and simmer per packet directions.
In a large bowl, combine cooked beef, beans, oregano, cumin and garlic powder.
In another bowl, combine Monterey Jack and cheddar cheese and gently blend well.
Place 4 uncooked noodles in bottom of a 9� x 13� inch pan. Spread half of beef mixture and one-third cheese over noodles. Top with 4 noodles. Spread with remaining mixture beef and one-third cheese, add remaining noodles and top with remaining cheese. In a medium bowl, mix water and picante sauce. Pour evenly over layers. Cover tightly with foil.
Bake 1 1/2 hours in the preheated oven, or until noodles are tender.
Blend sour cream and olives in a medium bowl. Spoon over lasagna, and top with Jack and Cheddar cheese. Bake uncovered until cheese melts, about 5 to 10 minutes.