Solution: (1) the intersection point f is FG//BC and intersects the AE extension line at G point.

Then FG/BD=AF/AB, FG/DC=EF/EC.

Because d is the midpoint of BC, BD=DC,

So AF/AB=EF/EC,

Because EC= 1/4CF,

So EF=3/4CF,

So EF/EC=3/ 1,

So AF/AB=3/ 1.

So the position of F is on the extension line of AB, AE=3AB.

(2) The value of AF/AB is 3/ 1.