The Law of God demands a sinless life of all the human family. This Christ has provided as the new Head of the family of Adam. The terms of the Everlasting Covenant have been fulfilled by Christ the new Head of the race. All who believe in Him as their Savior and Lord are accounted to have perfectly fulfilled all the righteous requirement of the Law. Believing repentant sinners are saved by the unmerited grace of God through faith in the sinless life and atoning death of our Lord Jesus Christ on the cross.
Faith has NO saving merit.
These fundamental issues of the Protestant Reformation were dealt with at the Counsel of Ratisbon. Had the Reformers adopted the position of salvation by faith as a saving quality IN the believer, the Reformation would have faltered and Rome would have overthrown the Protestant Reformation. Thus the true children of the Protestant Reformation continue to proclaim salvation by grace alone through faith alone IN the sinless life and atoning death of our Lord Jesus Christ alone. He was faithful to the terms of the Covenant in that He perfectly fulfilled the Law and did the will of the Father as the New Adam. Faith in the saving sense always refers to the imputed righteousness of Christ as its object.