Probably not very reliably, but I can imagine it working for prototypes. Whenever I reflow BGA chips, I apply tacky flux, then push down on the BGA and sort of slide it around until it 'locks' into position. The locking mechanism comes from the fact that there is a ~25 micron thin film of soldermask 'cupping' the solder ball contacts (the solder contacts probably need to be gold for planarity reasons). Multiply this tiny force by 400 odd balls, and it becomes quite significant with applied downforce and doesn't allow it to slide around.
I don't really understand the purpose having a socketable BGA though, unless the pinouts between chips are compatible. If you're looking to do it so you can easier time soldering (eg, by breaking it out to header pins), you're defeating the purpose of the BGA package, which is to reduce inductance, especially to decoupling capacitors.