David Vestal discusses this technique, which he picked up from Lloyd Varden, in one of his books. I have tried it. It works well on FB paper, which can absorb the developer.
Say you have a neg that needs all kinds of print controls, but the needed dogding and burning are going to be a bear, and you are not in the mood to make an (unsharp) contrast reduction mask. Or there is not enough contrast in the original neg to handle the effect of a contrast reduction mask. Focus on the baseboard, or better yet, on a piece of scrap paper on a piece of glass [placed on the baseboard, so the baseboard will stay dry. Tape the galss in place, and use masking tape to guide where the wet paper will need to be positioned.
Soak the unexposed print in developer. Squeegee from the back (I use a ferrotype plate for a smooth surface to squeegee against). Then lay the damp print on the glass, per the masking tape marks. Make your exposure. I use a smallish aperure, and enough exposure (known from earlier test strips) to get detail in the densest part of the neg that you want detail to show up in the print. Use whatever VC filter you think will work best with the overall tone of the photograph, if you are working with VC FB paper.
The picture kind of fades out before your eyes, as it is exposed, because the developing agent causes the thin areas of the neg to blacken first, and the denser ares of the neg are darker on the print to start with. The developer exhausts in the thinest areas, so the effect is like 'self masking'. I go straight to the stop bath after exposure.