Thanks for both of your quick replies.
After reading your responses I checked the SCCLient log (under C:\windows\ccm\logs) and noticed there was a message regarding an HTTP request to the MP exceeding "the allocated timeout of 00:01:00". I double checked the MP server and found that our antivirus program decided to block some traffic between the site server and the MP related to a file called "ccm security token service pool.config" in a path under c:\inetpub. I had our security team whitelist that and everything is working fine now.