I don’t buy it.
If loss of salvation is true, and it is true that we continue to sin just as Paul says in Romans 7; therefore, no saved person will be saved.
It makes more sense that Salvation is final.
The NT makes clear distinctions between individual sins (plural)--individual acts of wrong-doing vs. sin (singular)--a power, a power that can rule.
Example: Jesus has been going along talking about sins (plural). John 8:24 (twice). He mentions "sins" again in v. 34. But he does something interesting. He switches from "sins" to "sin" in the same sentence: "Jesus replied, 'I tell you the truth, everyone who sins is a slave to sin." (John 8:34)
Jesus is saying (to paraphrase), "When you screw up morally, it's rooted in the power (of original sin) that controls you." LDS acknowledge that Jesus has the power to free folks from original sin...the problem is they apply it across the board to everyone. Look around you. Does LDS theology of ridding the world of original sin look like it's operative in the world today? (Hardly) Does it look more like a world of "free agents" or a world of folks in bondage to sin (Eph. 2:1).
Look at Romans 6 and you'll see sin described in rulership language.
But it doesn't have to be that way. "So if the Son sets you free, you will be free indeed." [The "if" is there to let folks know it's not a "when" for everybody...John 8:36] 8:36)