a player scrambles for loose ball and is own the floor trying to get control opposing player goes for ball as if
they were on the football field plenty of body contact

should there be a foul called or not?
why?

If the second player came from the side, or back and either put the first player at a disadvantage or gined himself an advatage by the contact, there should be a foul.

If both players came at the ball from the same angle, and made contact going for the ball, without pushing, holding, pulling back the other, no call.

this is a call that i hardly ever see in college games or high school games and i may have seen a foul called once
what if any would the reason be for a no call

Loose ball provision of article 2 under incidental contact rule. Remember, even serious contact can be incidental. Players diving after a loose ball is one of the clear examples where this is true. You will see much contact and no call unless someone pushes or grabs, or you get a held ball.

Ususally you'll see a foul called if one player dives or falls on the other or if the arms are wrapped around him.

If a player clearly comes in late a foul should be called.

Weren't loose ball fouls a POE last year or the one before?

I don't know about "usually," but I hope you're right. What I do know is that I will always (?) call a foul if an opponent lands on top of a player while going for the ball. And I OFTEN get questioned by a coach (or worse) for making that call ("He was just going for a loose ball!").