Who was the last champ with 5 or more losses on their record...

[Jukai]

Forrest

... had only four losses before his title, to Keith Jardine, Tito Ortiz, Jeremy Horn and Dan motha fuckin' Severn.

I named all the champs who had more than four losses. Only three of them, unless you count Couture who won it multiple times (and I don't, cause he was 7-2 when he won his first UFC championship).