A spin transfer (torque) oscillator (STO) with a non-magnetic spacer formed between a spin injection layer (SIL) and a field generation layer (FGL), and with an interfacial layer comprised of Fe(100-V)CoV where v is from 5 to 100 atomic % formed between the SIL and non-magnetic spacer is disclosed. A composite seed layer made of Ta and a metal layer having a fcc(111) or hcp(001) texture is used to enhance perpendicular magnetic anisotropy (PMA) in the STO device. The interfacial layer quenches SIL oscillations and thereby stabilizes the SIL against FGL oscillations. The interfacial layer preferably has a thickness from 5 to 50 Angstroms and enhances amplitude (dR/R) in the STO device. The STO device may have a top SIL or bottom SIL configuration. The SIL is typically a laminated structure such as (Co/Ni)X where x is between 5 and 50.