The fast hitch control is VERY different from your typical hydraulic remotes.
There is a feedback linkage that runs from the hitch, up along the left side of the platform, to a series of linkages on the left side of the steering pedestal.
When you move the lever to a position, the hitch starts moving. As the hitch moves, it pushes on the feedback linkage until it reaches the position indicated by the lever.
In a nutshell, the lever opens the valve and the feedback linkage closes it to make the hitch stop moving.
Check that linkage. It may be broken. It was broken on the 460 I looked at a couple weeks ago, and the hitch would not stop moving up or down unless you moved the lever to "meet" the hitch at the proper position.
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