May not be the fault of the pump, T dub.
I had a similar problem ... motor would trim up, but would not trim down. The down trim relay was shot. Replaced both (as per recommendation) and it works fine, now.
You may want to check the relays first ... loosen the release screw and push the motor up about half way, then tighten the release screw back -- then try and trim it back down with the trim buttons (on side of motor or throttle handle). If it trims down like it should, your up relay may be dead. If either/both trim button doesn't work, you may have a problem with them. If you raise it up and tighten the release screw, and the motor doesn't stay tilted up ... you may have a busted seal in the pump. (you may also want to check and make sure the pump fluid is up to correct level).
Now ... I'm no mechanic, and I'm just "supposing" possible problems .... based on what I read/saw online when researching my T/T problems. My motor is a 1999 Merc 90hp 2strk.