Quote Originally Posted by Ashkendor View Post
You can actually look straight down on top of you while you're flying. Turn on autowalk, then pan the camera around to where you want it using the left mouse button instead of the right one. I'm not sure how you'd go about doing it on a console, unfortunately.
On consoles, if you turn on autorun (L1+Left Stick), and then try to pan camera, your mount will turn to that direction (On legacy controls at least).

Although if you have enough coordination, you can just fly manually while panning camera, by having mount fly in opposite direction your panning the camera, result will be that you'll fly straight while panning. This is harder than it sounds though, kinda like rubbing your belly and patting your head at the same time, took me about an hour or so of messing around with it though to get use to it.