We analyze the full nonlinear dynamics of the four-wave mixing between an incident beam of fermions and a fermionic density grating. We find that when the number of atoms in the beam is comparable to the number of atoms forming the grating, the dephasing of that grating, which normally leads to a decay of its amplitude, is suppressed. Instead, the density grating and the beam density exhibit large nonlinear coupled amplitude oscillations. In this case four-wave mixing can persist for much longer times compared to the case of negligible back-action. We also evaluate the efficiency of the four-wave mixing and show that it can be enhanced by producing an initial density grating with an amplitude that is less than the maximum value. These results indicate that efficient four-wave mixing in fermionic alkali gases should be experimentally observable.