Their initial end removes fate's hold, making them fateless. There seems to be no end in sight for the war, until one mortal's death is reversed. The Fateless One is reborn in the Well of Souls, in an experiment by Formorous Hugues.
The Fae and Tirnoch began a war with mortals a decade ago, which is still ongoing. Instead, it allows them to reincarnate so their numbers will never drop.
The immortality the Fae wield does not stop them from dying. The Faelands specifically are housed by the Fae, a group of immortals sworn to do the bidding of their god, Tirnoch. There are multiple lands in Kingdoms of Amalur: Re-Reckoning, and each one is led by a different group.