For one, Saudi Arabia and other Gulf monarchies were "greatly troubled" after President Barack Obama said it was time for Egyptian President Hosni Mubarak to step down, leaving them wondering if they were next, he explained.
Read More Saudi Arabia says king won't attend meetings in US
Jordan believes the nations were also unsettled by the U.S. failure to enforce any reprisals against Syria for using chemical weapons in its civil war.
However, the greater concern right now is the nuclear negotiations with Iran, he said.
"The Saudis and the Gulf monarchies feel that they really may be in the midst in a major shift in the balance in the Middle East in Iran's favor," Jordan noted. "If sanctions are lifted, Iran has billions of dollars to use against these monarchs in subtle ways."
On top of that, if Iran achieves nuclear status it can become a major threat in the region, he added.
Read MoreSaudi King Salman's royal reshuffle: what it means for oil
While Obama may be trying to reassure the Gulf states during the talks about the deal with Iran, Jordan believes it will be difficult to assure them the U.S. still has their backs when it comes to security.
"We have not delivered very much on other assurances we've provided in the past and so I think our credibility is really at stake here," he said.
Jordan is skeptical the summit will be successful, believing it will take more than one meeting to reconstitute U.S. credibility.
As for the U.S. relationship with Saudi Arabia, it's not beyond repair, he said.
"I don't think we're quite ready for a divorce but I do think some marriage counseling is in order," said Jordan.