Sounds like you've only lost water weight, but give it time and you will lose the fat. I wish I had some way to test my BMI, but unfortunately I dont. By overhauling my diet from crap to excellent, as well as starting Muay Thai training along with some fitness training, Ive come down from 205lbs+ to about 176lbs, and I'm still losing weight. I've gone from being quite out of shape to being in pretty damn good shape, now I'm just shooting for the Buakaw body
But as for training, 5 or 6 times a week is easily enough. 6 times could be, dare I say it, more than enough? That only leaves one rest days, and if you don't rest properly, your progress will plateau.