Justification by Faith? (White vs Sungenis)

Is the Roman Catholic Church correct when she says that we can merit justification? Was the Council of Trent right after all? Can we lose our justification? Or is the Protestant Reformation correct in saying that a man is justified by faith alone, apart from works? Is Christ's imputed righteousness enough to allow us to stand before a Holy God, or must we go through satispassio in Purgatory?