Sort and wash beans; place in a Dutch oven. Cover with water to depth of 2 inches above beans; let soak 8 hours. Drain and rinse beans.
Combine beans, sausage, and 6 cups water in Dutch oven. Bring to a boil; cover, reduce heat, and simmer 1 hour, stirring occasionally.
Coat a large nonstick skillet with cooking spray; place over medium-high heat until hot. Add onion and next 5 ingredients; saute 5 minutes or until tender. Add vegetable mixture, hot sauce, and next 7 ingredients to beans, stirring well. Bring to a boil; reduce heat, and simmer, uncovered, 1 1/2 hours or until beans are tender. Remove and discard bay leaves. Serve over 1/2-cup portions of rice. Garnish with oregano sprigs, if desired.