A method for forming a memory device that includes providing a free layer of an alloy of cobalt (Co), iron (Fe) and boron (B) overlying a reference layer; and forming metal layer comprising a boron (B) sink composition atop the free layer. Boron (B) may be diffused from the free layer to the metal layer comprising the boron sink composition. At least a portion of the metal layer including the boron (B) sink composition is removed. A metal oxide is formed atop the free layer. The free layer may be a crystalline cobalt and iron alloy. An interface between the metal oxide and free layer can provide perpendicular magnetic anisotropy character.