According to Marca (we all know that is a big if) Real Madrid is interested in bringing a new right back from Brazilian team Gremio. This 21-year-old player is very defensive-minded. He is 1,89 meters tall and, so he could even play the center back position, if necessary.
Gremio is asking for 25M € but Real Madrid only offerered 15M, so an agreement is not close as of now.
Although both Lass and Altintop can play the right back position, Mourinho believes these two players would not be enough against top teams like Barcelona. In that game, Madrid's coach decided to play Coentrao as right back and he completed a very good first half, but in the second one, the Portuguese defender showed that he is not used to defending on the other side of the pitch.
If Fernandes finally joins the team, his role would be unknown. Will Mourinho bench Arbeloa and play Mário Fernandes in the important games? Arbeloa's performance has been awesome so far this season, so benching him might be very hard for any coach. But signing Mário for 15M or more is very risky if you only plan to start him when Arbeloa is hurt or sanctioned. He is young and needs playing time to improve.
Some reports also say that Mário Fernandes is a hard personality inside a locker room. Juni Calafat, a Brazilian reporter that analyzes Brasileirao League in Canal+ Spain, has said that he refused to go with the Brazilian National Team. Brazilian players are usually difficult to deal with, and even more so if they are stars in the making. Ronaldinho and Robinho are clear cases of that.
Furthermore, Brazilian's league defensive skills are not very high. Everybody knows the problems that the National Team has faced in last World Cups. Only Juan and Lúcio have shined in Brazil's defense, because Maicon, Alves and Marcelo have a more attacking role. Trusting Brazil's league best defender to play at the defensive level that is required in both Spain and Europe might be dangerous.
You can check some Fernandes plays in this video.
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