Heat the oil in a saucepan, over medium heat. Once warm (just a few seconds later), add the spices and stir just for a second. Don't burn the spices--just warm them so they're fragrant. Then, whisk in the honey, tomato paste, broth, and green chilis.
Bring the sauce to a slight boil (doesn't need to be a rapid or continuous boil). While you're waiting, in a small bowl, whisk together the cornstarch and water.
Once the sauce begins to bubble on the sides, whisk in the cornstarch and water mixture. Cook the sauce, over medium heat, for another 2 minutes--just to allow the cornstarch to thicken a bit.
Using an immersion blender, blend the sauce. Alternatively, you could use a blender--just be careful when blending warm liquids in a blender. If you're not using green chilis (see recipe notes), you may skip the step.
Use the sauce to make enchiladas (this recipe makes enough for two enchilada meals--based on the recipe I'll share later in the week). Or, once the sauce is cool, pour the sauce in a storage jar and keep it in the fridge for a few days (about 3-4 days). I like to use half the sauce to make enchiladas, and freeze the other half for later.
Video
Notes
*I've used both hot and mild diced green chilis in this recipe. The hot green chilis definitely add a lot of heat to the sauce. I personally prefer the mild green chilis. If you don't want any heat, you can skip the green chilis (although, I think they bring a nice balance to the sauce). If you do this, then you may also skip the immersion blender step. I use Hatch brand green chilis. Arrowroot flour/starch may be subbed for the cornstarch. I just recently used 4 teaspoons of arrowroot mixed with a bit of water, and then added the mixture to the sauce. It worked perfectly.