When you archive a loan it removes it from your pipeline. You can access the loan again by searching for it by name or loan number in the top Search bar.
When you open an archived loan, you have the ability to move it back to your active pipeline by clicking the ‘Unarchive Loan’ at the top right.
Archiving a loan will also stop the borrower from receiving notifications, and let them know the loan is no longer active when they go into the file through Blend.
To view this help topic in the Blend Help Center:
https://help.blend.com/hc/en-us/articles/217415526-Archiving-and-Un-archiving-a-Loan